ALMONTE, Ontario, Sept. 14, 2020 (GLOBE NEWSWIRE) -- 3 Sixty Risk Solutions Ltd. (“3 Sixty” or the “Company”) (CSE: SAFE) (OTCQB: SAYFF) (FSE: 62P2) announced today that the Company continues to work expeditiously to release the required filings as soon as possible. Significant advancement has been made on the issues previously announced as it relates to assessing the accounting for the Company’s acquisition of Total Cannabis Security Solutions (TCSS) in January 2019, and includes assessing the potential impact on the recoverability of intangible assets and goodwill in the interim financial statements, as well as assessing the accounting for transactions, post-acquisition in the TCSS business, prior to finalizing and filing the financial results for the fourth quarter and fiscal year ended December 31, 2019.
Any changes that result from this ongoing assessment of the TCSS transaction will be amended and restated in the interim financial statements and related Management Discussion and Analysis as applicable, prior to finalizing filing financial results for the fourth quarter and fiscal year ended 2019.
Based on the above and impending Annual General Meeting (AGM) scheduled for September 21, 2020, the Company has decided to postpone the AGM until the respective reporting requirements have been met. Further information will be provided regarding the date of the AGM in the near future.
“I completely understand and appreciate our valued shareholders concerns as it relates to their inability to trade,” said Thomas Gerstenecker, Founder, Chairman, a.i., and CEO. “The obstacles presented by the TCSS transaction have to date prohibited the finalization of the audit. I can assure you, we are working non-stop on getting this audit completed, filed and back to trading. Our shareholders deserve it,” said Gerstenecker.
About 3 Sixty Risk Solutions Ltd.
3 Sixty Secure Corp, a wholly-owned subsidiary, is a multi-national security services company. 3|Sixty proudly offers customized security solutions to public and private sector clients across the globe. Services include: cash in transit; high value storage; protective services; secured transport; high risk training, personal protection, and security risk management consulting.
3 Sixty has a staff of over 600 employees and operates a fleet of over 120 vehicles, with seven secure facilities nationwide and a combined security footprint of approximately 35 million square feet of patrolled area across Canada.
Further Information
For further information regarding the Company, please contact:
Kelly Anne King
Corporate Services
1 (866) 360-3360
IR@3sixtysecure.com
Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the business and operations of 3 Sixty. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, 3 Sixty assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.