/NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES./
VANCOUVER, BC, July 6, 2021 /CNW/ - H-SOURCE HOLDINGS
LTD. (the "Company") (TSXV: HSI) (OTCQB: HSCHF) On
May 4, 2021, the Company announced
that, for reasons set out in its news release of May 4, 2021, the filing of its annual audited
financial statements for the year ended December 31, 2020, the accompanying management's
discussion and analysis and the related CEO and CFO certifications
(collectively, the "Annual Filings") would not be filed by
the prescribed deadline of April 30,
2021. As a result of the delay in filing the Annual Filings,
the Company's March 31, 2021 Q1
interim financial statements, the accompanying management
discussion and analysis and related CEO and CFO certificates (the
"Q1 Filings") were not filed by the prescribed deadline of
May 31, 2021.
The British Columbia Securities Commission, as principal
regulator, has notified the Company that a cease trade order will
be issued on July 7, 2021 against the
Company for failure to file the Annual Filings and Q1 Filings.
As previously announced, the Company requires additional time
to file the Annual Filings due to unforeseen impacts arising from
the COVID-19 pandemic which have continued to delay the audit of
the Company's annual financial statements. We will release
additional information later this week.
Reader Advisory
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
Forward-looking Statement Advisory: This release may contain
forward-looking statements. Forward-looking statements involve
known and unknown risks, uncertainties, and other factors which may
cause the actual results, performance, or achievements of the
Company to be materially different from any future results,
performance, or achievements expressed or implied by the
forward-looking statements. Forward looking statements or
information relates to, among other things, the timing for
preparation and filing of the Annual Filings, and the timing and
duration of the cease trade order. These forward-looking statements
are based on management's current expectations and beliefs but
given the uncertainties, assumptions and risks, readers are
cautioned not to place undue reliance on such forward- looking
statements or information. The Company disclaims any obligation to
update, or to publicly announce, any such statements, events or
developments except as required by law.
SOURCE H-Source Holdings Ltd.
