Canadian Oilfield Solutions Corp. Announces Change to 2012 Interim Financial Statements
(firmenpresse) - CALGARY, ALBERTA -- (Marketwired) -- 04/11/13 -- Canadian Oilfield Solutions Corp. (TSX VENTURE: OTS) (the "Company") announces that its interim financial reports as at and for the interim periods ended March 31, 2012, June 30, 2012 and September 30, 2012 (the "2012 Interim Reports") have not been reviewed by an auditor. While the 2012 Interim Reports did not state that they had been reviewed by an auditor, such reports did not contain a notice indicating that they had not been reviewed by an auditor, as required under National Instrument 51-102 Continuous Disclosure Obligations ("NI 51-102"). As a result, the Alberta Securities Commission has noted the Company in default under category 2(a) of CSA Notice 51-322 Reporting Issuer Defaults (the "Deficiency").
In order to correct the Deficiency, the Company is required to re-file the 2012 Interim Reports and concurrently with such filing, the Company's Chief Executive Officer and Chief Financial Officer (or persons acting in such capacity) are required by securities legislation to personally certify that the 2012 Interim Reports and corresponding management's discussion and analyses ("2012 Interim MD&A"), in effect, do not contain a misrepresentation and fairly present in all material respects the financial condition, results of operations and cash flows of the Company. Since the Company's current management was not involved in the capacity of Chief Executive Officer or Chief Financial Officer with the Company during the periods in question, the certifying officers need to complete due diligence on the 2012 Interim Reports and 2012 Interim MD&A prior to the re-filing of the 2012 Interim Reports. Further, as disclosed in the Company's April 10, 2013 press release, the Company currently does not have a Chief Financial Officer.
Accordingly, to remedy the Deficiency: (a) the Company will need to appoint a Chief Financial Officer; (b) the Company's Chief Executive Officer and Chief Financial Officer must complete sufficient due diligence on the 2012 Interim Reports and 2012 MD&A so that they can make the certifications; and (c) the Company must re-file the 2012 Interim Reports along with certifications of the Chief Executive Officer and Chief Financial Officer pursuant to National Instrument 52-109 Certification of Disclosure.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Canadian Oilfield Solutions Corp.
Ken Berg
President and Chief Executive Officer
(403) 543-0060
(403) 543-0069 (FAX)
For investor relations please contact
Working Capital Corporation
Tony Nunziata
(403) 560-7040
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Datum: 11.04.2013 - 06:00 Uhr
Sprache: Deutsch
News-ID 1215502
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CALGARY, ALBERTA
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Kategorie:
Equipment
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