RE:RE:RE:Gut feelingAll material news which may reasonably affect the share price must be released "in a timely manner". I don't think a public company can sit on such news and pick and choose what day to release it although I think we all know that it is common practise to release bad news on Fridays after the bell. Here is what corelawyers.ca have to say about such things:
A publicly listed company or reporting issuer should “press release” any information considered to be “material” information. The TSX Venture Exchange defines material information as:
“any information relating to the business and affairs of an Issuer that results in or would reasonably be expected to result in a significant change in the market price or value of any of the Issuer’s Listed Shares, and includes Material Facts and Material Changes”.