Mr. Peter M. Clausi reports
CBLT INC. PROVIDES NOTICE OF DEFAULT
Further to CBLT Inc.'s press release of Oct. 1, 2019, as a result of its being late in filing its audited annual financial statements and management discussion and analysis for the year ended May 31, 2019, by the prescribed deadline of Sept. 30, 2019, the Ontario Securities Commission has ordered that trading and acquiring, whether direct or indirect, cease in respect of each security of CBLT. The TSX Venture Exchange subsequently suspended trading in the company's securities.
CBLT requires more time to complete its audit due to delays to the commencement of the work by the auditors necessary to complete the audit. As a result of this delay, CBLT requires additional time to obtain the necessary information, documentation, comfort and board approvals to complete and file the financial statements and management's discussion and analysis. CBLT anticipates that it will be in a position to file the financial statements and management's discussion and analysis on or before Nov. 29, 2019.
We seek Safe Harbor.
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