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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| IC Capitalight Corp | CSE:IC | CSE | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.145 | 0.135 | 0.15 | 0 | 00:00:00 |
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Innovative Composites International Inc. (CSE:IC)(CNSX:IC)(OTCQX:ICIZF) ("ICI"
or the "Corporation") announces that it has made an application to the Ontario
Securities Commission to approve a temporary management cease trade order
("MCTO") under National Policy 12-203 Cease Trade Orders for Continuous
Disclosure Defaults ("NP 12-203"), which, if granted, will prohibit trading in
securities of the Corporation by certain insiders of the Corporation, whether
direct or indirect. The Corporation is unable to file its audited annual
financial statements for the year ended September 30, 2013, the related
management's discussion and analysis, and Chief Executive Officer and Chief
Financial Officer certificates for this period (collectively, the "Required
Filings") before the January 28, 2014 filing deadline (the "Filing Deadline").
The Corporation's failure to file the Required Filings before the Filing
Deadline is due to delays resulting from a recent change in management of the
Corporation as well as a change in the Corporation's auditors. The Corporation
is actively working with its new auditors to complete the Required Filings on a
timely basis and anticipates that it will be a position to remedy the default by
filing the Required Filings by February 11, 2014. The MCTO will be in effect
until the Required Filings are filed.
The Corporation intends to satisfy the provisions of the alternative information
guidelines set out in section 4.3 and 4.4 of NP 12-203 so long as the Required
Filings are outstanding.
The Corporation has not taken any steps towards any insolvency proceeding and
the Corporation has no material information to release to the public.
About Innovative Composites International Inc.
Headquartered in Toronto, Canada, Innovative Composites International Inc. is a
high-tech engineering and manufacturing company whose goal is to utilize its
proprietary "green" composite materials and building systems to provide
innovative, engineered product solutions to markets that include automotive and
transportation, shelters and containers, construction and housing, and
industrial applications.
To find out more about ICI please visit our website at:
www.innovativecompositesinc.com.
The Canadian Securities Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Innovative Composites International Inc.
Mark Rivers
Chief Executive Officer
(m) +1 (647) 526 5899
mrivers@innovativecompositesinc.com
www.innovativecompositesinc.com
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