CALGARY, Alberta, Oct. 01, 2020 (GLOBE NEWSWIRE) -- Zenith Capital Corp. (“Zenith” or the “Company”) today announces that, further to its September 17, 2020 press release, it continues to expect to file its annual financial statements for the year ended April 30, 2020 and related management's discussion and analysis (collectively, the "Annual Filings") on or before October 12, 2020.
Furthermore, the Company also continues to expect to file its interim financial statements and related management's discussion and analysis for the three months ended July 31, 2020 (collectively, the "Interim Filings") on or about October 30, 2020.
The Company confirms that the management cease trade order (“MCTO”), that the Company previously announced it was seeking, was granted by its principal regulator, the Alberta Securities Commission, in connection with the late filing of the Interim Filings. The MCTO prohibits the Chief Executive Officer and the Chief Financial Officer of the Company from trading in securities of the Company until the Interim Filings are filed and the MCTO is revoked but does not affect the ability of other investors to trade in the Company’s securities.
The Company confirms that it will satisfy the provisions of the alternative information guidelines under National Policy 12-203 – Management Cease Trade Orders by issuing bi-weekly default status reports in the form of news releases so long as it remains in default of filing the Interim Filings.
Zenith also confirms there have been no undisclosed material business developments, since its most recent news release on September 17, 2020 regarding the status of its continuous disclosure filings, that have not been otherwise disclosed by Zenith by way of news release.
Zenith Capital Corp. is a biotechnology investment company originally spun out of Resverlogix Corp. (TSX: RVX) in 2013. Zenith Epigenetics Ltd., a wholly-owned subsidiary of Zenith Capital Corp., is a clinical stage biotechnology company focused on the discovery and development of novel therapeutics for the treatment of cancer and other disorders with significant unmet medical need. Zenith Epigenetics is developing various novel combinations of BET inhibitors with other targeted agents. The lead compound, ZEN-3694, is in clinical development for metastatic Castration Resistant Prostate Cancer (“mCRPC”) and Triple Negative Breast Cancer.
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This news release may contain certain forward-looking information as defined under applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. In particular, this news release includes forward looking information relating to the anticipated timeline for filing continuous disclosure documents and potential restrictions on trading the Company’s securities. Our actual results, events or developments could be materially different from those expressed or implied by these forward-looking statements. We can give no assurance that any of the events or expectations will occur or be realized. By their nature, forward-looking statements are subject to numerous assumptions and risk factors including those discussed in our most recent MD&A which are incorporated herein by reference and are available through SEDAR at www.sedar.com. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement and are made as of the date hereof. Zenith disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.