(TSX - V: UZZ)
EDMONTON, April 25, 2013 /CNW/ - United Protection Security Group Inc.
(the "Company") is making an announcement under the provisions of
National Policy 12-203. The Company anticipates that it will be
delayed in the requirement to file its audited financial statements,
and corresponding Management Discussion & Analysis, for the period
ended December 31, 2012.
The delay by the Company is as a result of the Company's auditors'
conducting additional audit procedures in respect of three acquisitions
completed during the last financial year. The Company is assisting the
auditors in completing their audit work and anticipates being able to
file these financial statements on or before May 10, 2013. The Company
intends to satisfy the provisions of the alternative information
guidelines of National Policy 12-203 so long as it remains in default
of filing its year-end financial statements described above.
There is no other material information concerning the affairs of the
Company that has not been generally disclosed.
The additional audit procedures are not expected to affect the financial
results of the Company for the year ended December 31, 2012. The
projected gross revenue of the Company for the year is expected to be
$41,800,000, the expected pre-tax profit is estimated at $1,000,000 and
the expected EBITDA(1) is estimated at $2,800,000.
(1) EBITDA - Earnings before interest, taxes, depreciation and
amortization.
Stock Awareness Activities
To find out more about United Protection Security Group Inc. (TSX-V:
UZZ), visit our website at www.unitedprotection.com. To join the 'request for information', go to the web page www.unitedprotection.com and click the tab 'request information' and follow the prompts.
Statements in this press release other than purely historical
information, including statements relating to the Company's future
plans and objectives or expected results, are forward-looking
statements. Forward-looking statements are based on numerous
assumptions and are subject to all of the risks and uncertainties
inherent in the Company's business, including risks related to business
development and retention, and risks related to the current economic
and credit conditions. As a result, actual results may vary materially
from those described in the forward-looking statements.
Neither the 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: United Protection Security Group Inc.
