KEW MEDIA GROUP INC. (“KEW” or the “Company”) (TSX:KEW and KEW.WT) today announced that the Toronto Stock Exchange (“TSX”) has notified the Company that it is reviewing the eligibility for continued listing of the Company’s securities on the TSX pursuant to Part VII of the TSX Company Manual (the “Manual”).
The TSX has advised that it will be reviewing the Company with respect to continued listing criteria related to disclosure issues. These disclosure issues relate to the withdrawal by the Company’s auditor of its audit reports for the years ended December 31, 2017 and 2018 and its interim review reports to the Audit Committee of the Company for each interim period within the 2017, 2018 and 2019 fiscal years of KEW as a result of the actions of KEW’s former Chief Financial Officer. The Company has been granted 120 days to comply with all requirements for continued listing. If the Company cannot demonstrate that it meets all TSX requirements set out in Part VII of the Manual on or before May 19, 2020, the Company’s securities will be delisted from the TSX 30 days from such date. There is no assurance that the Company will successfully regain compliance within this time period.
Should the TSX decide to delist the securities of the Company, the Company will have the option to apply for listing on the TSX Venture Exchange or NEX. The TSX notification and review does not affect the Company’s business operations or applicable Canadian reporting requirements.
About KEW MEDIA GROUP INC.
With primary offices in London, Los Angeles, and Toronto, KEW MEDIA GROUP is a publicly listed content company that produces and distributes multi-genre content for almost every available viewing platform worldwide. KEW promotes transparency, equality, respect, and inclusiveness and plans to grow with the benefit of people from a wide range of perspectives and backgrounds.
Forward-Looking Statements
This news release may include forward-looking statements. Forward-looking statements are statements that are predictive in nature, depend upon or refer to future events or conditions and are identified by words such as “will”, “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates” or similar expressions concerning matters that are not historical facts. All such statements constitute forward-looking information within the meaning of securities law and are made pursuant to the “safe harbor” provisions of applicable securities laws. Such statements are based on current expectations of the Company’s management and inherently involve numerous risks and uncertainties, known and unknown and there can be no assurance as to the outcome of the Company’s delisting review. Except as may be expressly required by applicable law, KEW does not undertake any obligation to update publicly or revise any such forward-looking statements as a result of new information, future events or otherwise.
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