GGG:CC - G6 Materials Announces Late Filing of Annual Financial Statements
(TheNewswire)
Ronkonkoma, New York, USA - TheNewswire – September 29, 2022- G6 Materials Corp. (“G6”or the “Company”) (TSXV:GGG ) , ( OTC:GPHBF), announces that as a result ofdelays in the completion of its audit, the Company will be unable tofile its financial statements and accompanying management’sdiscussion and analysis for the financial year ended May 31, 2021(collectively, the “ AnnualFilings ”) by September 28, 2022, being thedate that such filings are due under applicable Canadian securitieslaw requirements.
In response to the Annual Filings delay, the Companyhas applied for and been granted a management cease trade order(“ MCTO ”) under National Policy 12-203 – Management Cease TradeOrders (" NP12-203 ").
The Annual Filings are delayed as a result ofa requirement to change auditors in late July.The successor auditor was engaged as soon as practicable, however theamount of time was not sufficient to complete the audit process withinthe compressed timeframe. Additional audit procedures were alsorequired as a result of the transition to a new auditor.
The Company expects to file the Annual Filings as soonas they are available, but in any event no later than October 27, 2022and will issue a news release once the Annual Filings have been filed.
Until the Company files the Annual Filings, it willcomply with the alternative information guidelines set out in NP12-203. The guidelines, among other things, require the Company toissue bi-weekly default status reports, in the form of news releases,for so long as the Annual Filings have not been filed.
During the MCTO, the general investing public willcontinue to be able to trade in the Company's common shares listed onthe TSX Venture Exchange. However, the Company's Chief ExecutiveOfficer and Chief Financial Officer will not be able to trade in theCompany's shares, nor will the Company be able to, directly orindirectly, issue securities to or acquire securities from an insideror employee of the Company except in accordance with legally bindingobligations to do so existing as of September 29, 2022. The Company isnot currently subject to any insolvency proceedings. If the Companyprovides any information to any of its creditors during the period inwhich it is in default of filing the Annual Filings, the Companyconfirms that it will also file material change reports on SEDARcontaining such information.
About G6 Materials Corp.
G6 Materials Corp. is a high-tech company withexpertise in advanced materials that creates value developinginnovative composites for a wide range of industrial uses. GrapheneLaboratories Inc., a wholly owned subsidiary of G6, sells a range ofgraphene-based products and other materials, including but not limitedto conductive epoxies, high-performance composites, and R&Dmaterials, with numerous customers from among the Fortune 500 list ofcompanies, as well as NASA and leading universities. GrapheneLaboratories Inc. has entered the global air filtration market withBreathe +® , a line of medical grade HEPA air filtration productsenhanced with advanced performance graphene material.
G6 has identified new graphene-based applications toaccelerate growth into the future. Accordingly, the Company has avaluable IP portfolio currently comprising five granted patents. TheCompany’s management team and employees have a deep understanding ofgraphene technology based on decades of aggregate academic andcommercial experience. Graphene Laboratories Inc., a wholly ownedsubsidiary of G6 located in Ronkonkoma, New York, has established itspremium research laboratory and scalable production facility isequipped with advanced analytical and material processingequipment.
The Company’s e-commerce websites are listedbelow:
* Breathe +® : Medicalgrade HEPA air filtration enhanced with advanced performance graphenematerial, for more information, visit www.breatheplus.tech
* Conductive Epoxies: Adhesivematerials distributed under the G6-Epoxy ® trade name andcan be purchased at www.g6-epoxy.com
* R&D Materials: GrapheneLaboratories Inc. currently offers over 100 graphene and relatedproducts available at www.graphene-supermarket.com
Contact Details:
Commercial Inquiries:
Telephone: (631) 405-5113
Email: info@g6-materials.com
Investor Inquiries:
Telephone: 1-(866)-324-4244
Email: investors@g6-materials.com
ON BEHALF OF THE BOARD: Daniel Stolyarov, President& Co-CEO
For more information on G6 Materials Corp., pleasevisit www.G6-Materials.com or its profile page on SEDAR at www.sedar.com .
Forward-Looking Information
Except for the statements of historical fact, this newsrelease contains forward-looking statements and forward-lookinginformation (collectively, “forward looking information”) withinthe meaning of the applicable Canadian and U.S. securities legislationthat is based on expectations, estimates and projections as at thedate of this news release. Forward-looking information in this newsrelease includes, but is not limited to, statements regarding thetiming, review, completion and filing of the Annual Filings;application and grant of an MCTO; business goals and objectives of theCompany, and other forward-looking information concerning theintentions, plans and future actions of the parties to thetransactions described herein and the terms thereon.
Factors that could cause actual results to differmaterially from those described in such forward-looking informationinclude, but are not limited to, the Company may not complete itsaudit and file the Annual Filings as currently anticipated, or at all;and other related risks as more fully set out in the registrationstatement of the Company and other documents disclosed under theCompany's filings at www.sedar.com.
The forward-looking information in this news releasereflects the current expectations, assumptions and/or beliefs of theCompany based on information currently available to the Company. Inconnection with the forward-looking information contained in this newsrelease, the Company has made assumptions about the Company’sability to complete and file the Annual Filings. The Company has alsoassumed that no significant events occur outside of the Company'snormal course of business. Although the Company believes that theassumptions inherent in the forward-looking information arereasonable, forward-looking information is not a guarantee of futureperformance and accordingly undue reliance should not be put on suchinformation due to the inherent uncertainty therein. Forward-lookinginformation in the news release will not be updated by the Companyexcept as required by law.
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
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