VANCOUVER: Avcorp Industries Inc. (TSX: AVP) (the “Company”, “Avcorp” or the “Avcorp Group”) is providing this fifth bi-weekly default status report in accordance with National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203"). In its initial default announcement of March 30, 2017 (the "Default Notice"), the Company announced that it will not be filing its annual audited financial statements for the year ended December 31, 2016, management’s discussion and analysis, Annual Information Form and related certifications (collectively the “Required Documents”) before the prescribed deadline of March 31, 2017. The Company provided bi-weekly default status reports on April 18, May 1, May 15 and May 29, 2017. Further to the foregoing, the Company will not be filing its interim financial statements for the period ended March 31, 2017, due to be filed May 15, 2017.
As previously announced, 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 December 31, 2016, management’s discussion and analysis, Annual Information Form and related certifications (collectively the “Required Documents”) and the Executive Director of the BCSC 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 March 30, April 18, May 1, May 15 and May 29, 2017, there is no other material information respecting the Company’s affairs that has 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 bi weekly 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.