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TORONTO, June 3, 2020 /CNW/ - Newtopia Inc. ("Newtopia" or the "Company") (TSX-V: NEWU), a telehealth enabled habit change platform focused on disease prevention, is providing an update on the status of the filing of its financial statements, 52-109 certifications, and its annual management and discussion analysis for the quarter ended March 31, 2020 (collectively, the "First Quarter Filings").
On March 18, 2020, the Canadian Securities Administrators (CSA) announced that they will provide issuers with a 45-day filing extension for filings required on or before June 1, 2020 to allow issuers the time needed to focus on the many other business and financial reporting implications of COVID-19. Newtopia will rely on this exemption with respect to the First Quarter Filings in accordance with Ontario Instrument 51-502 – Temporary Exemption from Certain Corporate Finance Requirements.
The Company is continuing to work with its auditors to file the First Quarter Filings on or around July 10, 2020 and by no later than July 12, 2020. In the interim, management and other insiders of the Company are subject to a trading black-out policy that reflects the principles in section 9 of National Policy 11-207 – Failure to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.
The Company confirms that since the filing of its final long-form prospectus dated March 30, 2020 which incorporated the Company's interim financial statements for the nine months ended September 30, 2019, there have been no material business developments other than those disclosed through news releases.
About Newtopia
Newtopia is a telehealth enabled habit change platform focused on disease prevention that delivers a 1:1 individualized approach for at-risk individuals by looking at social, psychological, and genetic insights. Newtopia's approach is proven to deliver value on investment for risk bearing employers and insurers. Clients experience reduced clinical risk factors, medical claims savings and increased quality of life, productivity and morale for their at-risk individuals. Newtopia's mission is to inspire people to live healthier. To learn more, visit newtopia.com.
Forward Looking Information
This news release contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, and forward looking statements, within the meaning of applicable United States securities legislation (collectively, "forward-looking statements"), which reflects management's expectations regarding Newtopia's future growth, results from operations (including, without limitation, future production and capital expenditures), performance (both operational and financial) and business prospects and opportunities. Wherever possible, words such as "predicts", "projects", "targets", "plans", "expects", "does not expect", "budget", "scheduled", "estimates", "forecasts", "anticipate" or "does not anticipate", "believe", "intend" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: the expected filing date of the Annual Filings and Newtopia's business plans and outlook. Forward-looking statements are not a guarantee and are based on a number of estimates and assumptions management believes to be relevant and reasonable. For more information on these risks please see the "Risk Factors" in Newtopia's final long-form prospectus dated March 30, 2020
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.
SOURCE Newtopia Inc.
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Jeff Ruby, Chief Executive Officer, jruby@newtopia.com; Media Contact: Rikki Bennie, VP Marketing Newtopia, rbennie@newtopia.comCopyright CNW Group 2020