BGP ACQUISITION CORP. PROVIDES UPDATE ON ANNUAL FINANCIAL STATEMENTS
VANCOUVER, BC, April 1, 2022 /CNW/ - BGP Acquisition Corp. (NEO: BGP.U) (NEO: BGP.WT.U) (OTCQX: BGPPF) (OTCQX: BGPAF) (the "Corporation") announces today that the Company's audited annual financial statements for the year ended December 31, 2021 and related management's discussion and analysis (collectively, the "2021 Annual Financial Statements"), the Company's annual information form for the year-ended December 31, 2021 (the "AIF"), and the CEO and CFO certifications to be delivered in respect of the 2021 Annual Financial Statements and the AIF (the "Certifications") were not finalized by March 31, 2022, being the date that such filings were due under applicable Canadian securities law requirements.
The Company is not aware of any material issue with the pending audit causing the delay and the Company has provided all requested information to the Company's auditor (the "Auditor"). The Company will work with the Auditor and dedicate appropriate resources to promptly finalize the 2021 Annual Financial Statements, the AIF and the Certifications and expects to file the 2021 Annual Financial Statements, the AIF, and the Certifications on or before April 4, 2022.
The Company confirms that it intends to satisfy the alternative information guidelines set out in Part 10 of National Policy 12-203 – Management Cease Trade Orders for so long as it remains in default of the continuous disclosure obligations discussed herein.
BGP Acquisition Corp. is a special purpose acquisition corporation incorporated under the laws of the Province of British Columbia for the purpose of effecting, directly or indirectly, a qualifying transaction within a specified period of time. For more information regarding the Corporation's business purpose and qualifying transaction targets, see the Corporation's most recent annual information form, financial statements, management's discussion & analysis and other continuous disclosure documents periodically filed on SEDAR.
This press release may contain forward looking information within the meaning of applicable securities legislation, which reflects the Corporation's current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Corporation's control that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the anticipated timing for the Auditor to complete its audit procedures, the anticipated filing date of the 2021 Financial Statements, the AIF, and the Certifications, the Company's compliance with the alternative information guidelines set out in NP 12-203 – Management Cease Trade Orders, and the factors discussed under "Risk Factors" in the Corporation's final prospectus dated January 28, 2021. The Corporation does not undertake any obligation to update such forward looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
SOURCE BGP Acquisition Corp.
BGP Acquisition Corp., Don Jennings, Chief Financial Officer, President and Corporate Secretary, [email protected], 415-237-1747
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