SAINT-ÉPHREM-DE-BEAUCE, QC, Aug. 28, 2012 /CNW Telbec/ - Sigma Industries Inc. ("Sigma" or the "Company") (TSXV: SSG) is not in a position to file its audited financial statements for the fiscal year ended April 28, 2012, related management's discussion and analysis and CEO and CFO certificates by the August 27, 2012 deadline.
Actions resulting from the renewal of the Company's credit facilities have delayed the normal auditing process of the financial information and the preparation of the Company's financial statements. The Company and its management have taken appropriate measures to publish annual documents no later than October 26, 2012.
The Company has applied to the Autorité des marchés financiers (the "AMF"), Alberta Securities Commission (the "ASC") and the British-Columbia Securities Commission (the "BCSC") for a management cease trade order (a "MCTO") under Policy Statement 12-203 which, if granted, will prohibit trading in securities of the Company by certain insiders of the Company. An MCTO would not generally affect the ability of persons who are not directors or officers of the Company to trade securities of the Company. The granting of a MCTO is at the discretion of AMF, ASC and BCSC and there is no assurance that such an order will granted.
If the AMF, ASC and BCSC decide not to grant a MCTO, the Canadian Securities Administrators may decide to issue a general cease trade order which would prohibit any person from trading in securities of the Company in Canada.
If the MCTO is granted, the Company intends to satisfy the provisions of the Alternative Information Guidelines as set out in the Policy Statement 12-203 for as long as the Company remains in default, including the issuance of bi-weekly default status reports, each of which will be issued in the form of a press release.
ABOUT SIGMA INDUSTRIES
Sigma Industries Inc. (TSX-V: SSG), a leading composite and metal products manufacturer, has four operating subsidiaries and employs 475 people. The Company is active in the growing heavy-duty truck, coach, transit and bus, train and subway, machinery, agriculture, light forestry, and wind energy market segments. Sigma sells its products to original equipment manufacturers and distributors in the United States, Canada and Europe.
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.
SOURCE: SIGMA INDUSTRIES INC.
Sigma Industries Inc.
Denis Bertrand,
President and Chief Executive Officer
Phone: 418-484-5282
E-mail: [email protected]
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