Montréal, Québec (FSCwire) - NovX21 Inc. (“NovX21’’ or the “Corporation”) has determined that
it will not be able to file its audited annual consolidated financial statements for the year ended December 31, 2015, its
related Management's Discussion and Analysis and Chief Executive Officer and Chief Financial Officer certifications (the
“Required Filings”) by the prescribed filing deadline of April 29, 2016 (the “Filing
Deadline”).
Until recently, the Corporation did not have the necessary funds to mandate its auditors to proceed with the audit of its
financial statements and such audit will not be completed prior to the Filing Deadline. The Corporation's Required Filings will
be made as soon as the Board of Directors has approved the financial statements and its auditors have delivered their audit
report. The Corporation has engaged an external firm in order to collect the necessary document for the preparation of the
financial statements. This work should be completed during the week beginning on May 2, 2016 and handed over to Raymond Chabot
Grant Thornton, the auditors, in order for them to complete and file the Required Filings no later than May 30th,
2016.
The Corporation has made an application to the Autorité des marchés financiers for a management cease trade order
(“MCTO”), which would restrict all trading in securities of the Corporation, whether direct or indirect, by
Chief Executive Officer and Chief Financial Officer of the Corporation. There is no guarantee that an MCTO will be granted. The
issuance of an MCTO does not generally affect the ability of persons who are not directors, officers or other insiders of NovX21
to trade in securities of the Corporation.
The Corporation intends to comply with the provisions of the alternative information guidelines as set out in sections 4.3 and
4.4 of Policy Statement 12-203 respecting Cease Trade Orders for Continuous Disclosure Defaults for as long as it
remains in default, including the issuance of bi-weekly default status reports, each of which will be issued in the form of a
news release.
A Sedar filing has been made to postpone the Annual and Special Shareholder meeting date to June 22nd,
2016. More information will be mailed to shareholders in the circular of information.
About NovX21
NovX21 operates an industrial prototype plant for the recovery of Platinum Group Elements (Platinum, Palladium and Rhodium, or
PGMs). The plant is located near Quebec City in St-Augustin-de-Desmaures. Its patented process yields more than 97% recoveries of
PGMs, and is not only much less capital extensive but also operates much more rapidly than conventional plants, thus dramatically
lowering the amount of time that its customers’ capital is tied up as work-in-process inventory. NovX21’s mission is to
sustainably recover precious metals by recycling end-of-life PGM containing components while meeting global “green” standards for
the automobile industry.
Contacts
Nicole Blanchard
Director
NovX21
Nicole.blanchard@isuncomm.com
Tel: (450) 973-6600
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/novx21-05032016.pdf
Source: NovX21 Inc. (TSX Venture:NOV)
www.novx21.com
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