MONTREAL, July 17, 2019 (GLOBE NEWSWIRE) -- The Delma Group Inc. (CSE: DLMA) (the “Company” or “Delma”) announces that the Management Cease Trade Order ("MCTO") issued by the British Columbia Securities Commission (“BCSC”) on May 2, 2019 has been revoked. With the revocation of the MCTO, directors and officers of Delma are no longer precluded from trading the Company's common shares.
The MCTO was initially issued in connection with the delay by the Company in filing its annual financial statements, management’s discussion and analysis and related officer certifications for the financial year ended December 31, 2018 and its first FY2019 financial quarter (collectively, the “Filings”) beyond the required filing deadlines under Parts 4 and 5 of National Instrument 51- 102 Continuous Disclosure Obligations and pursuant to National Instrument 52-109 Certification of Disclosure in Issuer’s Annual and Interim Filings, being April 30, 2019 for annual filings and June 30, 2019 for the first financial quarter interim filings.
Delma filed its Annual Filings on June 28, 2019 and its Interim Filings on July 12, 2019 on SEDAR and has now satisfied all of the terms and conditions of the MCTO required by the BCSC and is fully compliant with all of its continuous disclosure obligations.
The Company has taken the necessary steps to organize and facilitate the collection of all the required documentation related to the properties held for sale by the Company located in jurisdictions outside of Canada and does not expect to experience further delays in future financial filings.
About The Delma Group Inc.:
Delma operates in Canada in the development, acquisition and management of multi-purpose real estate, including retail, multi-suite residential, industrial, and office buildings as well as land for future development. The Company’s investment platform is based on an integrated, agile and efficient develop-to-own strategy that enables the group to capture development profits and the value-add while securing stable long-term returns.
For more information, please visit www.delma.ca and www.sedar.ca. DLMA.CN
Source: The Delma Group Inc.
For more Information, please contact:
Joseph Cianci
CFO
T: 1.844.663.3565 (Ext. 102)
E: joseph.cianci@delma.ca