May 21, 2020, Vancouver, British Columbia: NatureBank Asset Management Inc. (the “Company”) (TSX-V: COO, Frankfurt: 9EA) wishes to provide an update as required under BC Instrument 51-515, whereby the BC Securities Commission (“BCSC”) has granted temporary exemption from financial filing deadlines due to delays resulting from the Covid-19 pandemic. Please see BC Instrument 51-515 for further details on the exemption order.
On April 21, 2020, NatureBank announced that it will delay filing both its annual financial statements and management’s discussion and analysis for the year ending December 31, 2019 (the “Annual Documents”) and its first quarter interim financial statements and management’s discussion and analysis for the first quarter interim period ending March 31, 2020 (the “Interim Documents”), relying on the exemptive relief granted under BC Instrument 51-515. Without granting the temporary exemption, filing of the Annual Documents (as required under National Instrument 51-102) would have be due on April 29, 2020, and the Interim Documents would be due on June 1, 2020.
Section 2 of BC Instrument 51-515 mandates that all companies relying on the exemptive relief provided by the order must issue an update news release to shareholders within 30 days of filing its initial news release if the company has not yet filed the documents for which it was relying on the exemption. Section 3 of Instrument 51-515 stipulates that the release must provide “(a) an update of any material business developments since the date of the last news release required by this section, or (b) confirmation that there have been no material business developments since that date.”
Accordingly, as the Company has not yet filed its Annual or Interim Documents, it is confirming that there have not been any material business developments since April 21, 2020, the date in which the Company issued its last news release.
Additionally, as disclosed in the April 21, 2020 news release, the Company expects to file its Annual Documents on or before June 15, 2020 and, in the case of the Interim Documents, on or before July 16, 2020. Until such time as the Annual Documents and the Interim Documents are filed, the Company’s management and other insiders are subject to a trading blackout that reflects the principles contained in Section 9 of National Policy 11-207 – Failure-To-File Cease Trade Orders and Revocations in Multiple Jurisdictions.
NatureBank Asset Management Inc.
NatureBank specializes in advisory, technology and project investment services applied to sustainable commodities and ecological assets, with a primary focus on carbon. We provide our customers with a multidisciplinary approach to managing risk, enhancing asset performance and securing commercial returns. While managing climate change risk, we improve livelihoods and sustainability in project regions. Through our advisory services team and our subsidiary company, Offsetters, we help organizations understand, reduce and offset their climate impact. With offices in Vancouver, British Columbia; and Portland, Oregon; our team has a global reach. We have worked with over 200 leading business organizations including Aimia, Vancity, lululemon athletica, Catalyst Paper, Harbour Air, HSE – Entega, and Shell Canada Limited. NatureBank is publicly listed company on the Toronto Venture Exchange (TSX-V:COO) and in Frankfurt:9EA. Please visit us at www.NatureBank.com.
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.
Forward Looking Statements
This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Such statements include statements regarding the anticipated terms of any proposed transaction or engagement. Information and statements which are not purely historical fact are forward-looking statements. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Furthermore, the Company is presently unable to fully quantify the impact that the Covid-19 pandemic will have on its operations and recognizes that certain eventualities may affect planned or assumed performance moving forward. Negative impacts, such as limitations on our employees’ ability to travel to international project sites or our customer’s inability to perform to expectation as a result of the pandemic may result in outcomes that are different than those currently expected. As such, any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.
For more information regrading the Company, please contact:
NatureBank Asset Management Inc.
Suite 300 – 948 Homer Street,
Vancouver BC, V6B 2W7