VANCOUVER, B.C. / ACCESSWIRE / April 29, 2020 / YDX Innovation Corp. (TSXV:YDX) (OTC PINK:YDRMF) (FSE:A2PB03) ("YDX" or the "Company") announces that due to the COVID-19 pandemic, the Company intends to postpone the filing of its first-quarter consolidated interim financial statements, accompanying management's discussion and analysis, and the related CEO and CFO certifications for the three months ended March 31, 2020, which are required to be filed by June 1, 2020, under Sections 4.3 and 4.4 of National Instrument 51-102 - Continuous Disclosure Obligations (collectively, the "Quarterly Filings").
On March 18, 2020, the Canadian Securities Administrators (CSA) announced that they would 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 the COVID- 19 pandemic.
The Company will rely on this exemption with respect to the Quarterly Filings in accordance with BC Instrument 51-515 - Temporary Exemption from Certain Corporate Finance Requirements. The Company is continuing to work diligently and expeditiously to file the Quarterly Filings and currently expects them to be filed on or prior to the extended filing deadline of July 16, 2020.
Until such time as the Quarterly Filings are filed, YDX management and other insiders of YDX are subject to a trading black-out that reflects the principles in section 9 of National Policy 11-207.
The Company confirms there have been no undisclosed material business developments since November 29, 2019, the date of filing the Company's third-quarter interim financial statements for the period ended September 30, 2019.
About YDX Innovation
YDX Innovation Corp. (TSXV-YDX):: www.ydxinnovation.com) is a technology company that develops products and services and is an expert in immersive technologies like Augmented and Virtual Reality, eSports events and Interactive Exhibitions under the following three divisions:
Arkave VR Arena - https://sales.arkavevr.com/ - a gaming platform that brings the most immersive Virtual Reality experience to Location-Based venues with a highly scalable business model. Developed as an all-in-one gamers haven featuring state-of-the-art free room tech right down to the most nostalgic gaming systems.
YDreams Global - www.ydreamsglobal.com - have developed over 1,300 interactive experiences for clients all over the world such as Disney, NBA, Adidas, Cisco, Nokia, Nike, Mercedes-Benz, Coca-Cola, Santander, AmBev, Qualcomm, Unilever, City of Rio and Fiat.
Game On Festival - www.gameonfestival.com - is an interactive entertainment event that celebrates the video game universe. Designed for gamers, families and fans of all ages, this Festival is a fusion of culture, entertainment and fun through Interactive Exhibits, Game Arenas, eSports Tournaments, high impact collective experiences, among other fun activities, all brought together in one large exhibition-style event.
More Information:
Daniel Japiassu
Director and CEO
[email protected]
(604) 704-6466
[email protected] | www.ydxinnovation.com | www.youtube.com/ydreamsglobal
This news release may contain "forward-looking statements" within the meaning of applicable Canadian securities laws, including, without limitation: the anticipated timing of the filing of the Company's Quarterly Filings for the three months ended March 31, 2020 and other matters relating to the Company's business plans. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. The Company's statements expressed or implied by these forward-looking statements are subject to a number of risks, uncertainties, and conditions, many of which are outside of the Company's control, and undue reliance should not be placed on such statements. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding the filing of the Quarterly Filings, including: material adverse consequences of the COVID-19 pandemic; unanticipated changes in laws, regulations or other industry standards affecting the business of the Company; the effects of general economic and other factors beyond the control of the Company, and other matters that may occur in the future. Except as required by securities law, the Company does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.
Neither the 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: YDX Innovation Corp.