Toronto, Ontario – June 29, 2021 – Further to its news release dated June 14, 2021, King Global Ventures Inc. provided this fourth biweekly default status report in accordance with National Policy Management Cease Trade Orders.
As previously announced in the company’s news release dated May 3, 2021, the company’s principal regulator, the Ontario Securities Commission (OSC), granted a management cease trade order (the MCTO) on May 3, 2021, under NP 12-203.
Pursuant to the MCTO, the chief executive officer and the chief financial officer may not trade in securities of the company until such time as the company files its annual audited financial statements for the year ended Dec. 31, 2020, including the related management’s discussion and analysis, and related certifications on or before June 30, 2021, and the executive director of the OSC revokes the MCTO. The MCTO does not affect the ability of shareholders to trade their securities.
The company’s board of directors and management confirm that they are working expeditiously to file the required documents and confirm that since the company’s press release dated May 3, 2021:
- There have been no material changes to the information contained in the default announcement that would reasonably be expected to be material to an investor;
- There have been no failures by the company to fulfill its stated intentions with respect to satisfying the provisions of the alternative information reporting guidelines under NP 12-203;
- There has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the default announcement; and
- There have been no material changes in respect of the company’s affairs that have not been generally disclosed.
Until the required documents have been filed, the company intends to continue to satisfy the provisions of the alternative information guidelines specified in NP 12-203 by issuing biweekly default status reports in the form of further press releases for so long as the company remains in default of the financial statement filing requirement.
On behalf of King Global Ventures