Allied Hotel Properties Inc. Provides Annual and Interim Filings Update
VANCOUVER, British Columbia, May 19, 2020 (GLOBE NEWSWIRE) -- Allied Hotel Properties Inc. (“Allied” or the “Company”) (AHP.V) is providing an update on the status of the filing of its annual financial statements and accompanying management’s discussion and analysis for the financial year ended December 31, 2019 (collectively, the “Annual Filings”) and its interim financial report and accompanying management’s discussion and analysis for the three-month period ended March 31, 2020 (collectively, the “Interim Filings”) which were required to be filed by April 29, 2020 and May 30, 2020, respectively, under National Instrument 51-102 Continuous Disclosure Obligations.
As previously announced on April 9, 2020, the Company is relying on the 45-day filing extensions being offered by various securities regulators in Canada, in response to the COVID-19 pandemic, for certain periodic filings that are required to be made on or before June 1, 2020. Specifically, Allied is relying on the exemptions with respect to the Annual Filings and Interim Filings in accordance with BC Instrument 51-515 Temporary Exemption from Certain Corporate Finance Requirements (“BCI 51-515”) in British Columbia, and Blanket Order 51-517 Temporary Exemption from Certain Corporate Finance Requirements (“BO 51-517”) in Alberta.
The Company is continuing to work diligently and expeditiously with its auditors to file the Annual Filings on or before May 29, 2020. Management of the Company expects that the Interim Filings will be filed on or before July 13, 2020. In the interim, management and other insiders of the Company are subject to a trading black-out policy that reflects the principles in section 9 of National Policy 11-207 Failure to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.
The Company confirms that there have been no material business developments since April 9, 2020 (the date of the last news release filed by the Company in accordance with BCI 51-515 and BO 51-517).
On behalf of the Board of Directors:
(signed) Michael F. Chan
Michael F. Chan
President, Chief Financial Officer, Secretary and Director
For more information please contact:
Allied Hotel Properties Inc.
Tel: 604-669-5335
Fax: 604-682-8131
e-mail: mikechan@alliedhotels.com
Neither the 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 Information
Certain statements contained in this press release constitute forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. The use of any of the words “anticipate”, “estimate”, “will” and “expect” and similar expressions and statements are intended to identify forward-looking information and are based on Allied’s current beliefs or assumptions as to the outcome of such future events. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company.
Many factors, both known and unknown, could cause actual results to be materially different from the results that are or may be expressed or implied by such forward-looking information contained in this press release.
The forward-looking information contained in this press release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Due to the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
