StageZero Life Sciences Financials Update
March 31, 2020 (Source) – StageZero Life Sciences, Ltd (TSX:SZLS) (“StageZero” or the “Company”) today announced it had intended to issue its audited Financial Statements for the calendar year 2019 (“2019 Financial Statements”), the Management Discussion and Analysis for the 3 month and 12 month periods to 31 December 2019 (“2019 MD&A”) and the Annual Information Form (“2019 AIF”) on March 30, 2020 in line with its normal reporting calendar. The Company now, however, due to disruption of the audit process caused by the Covid-19 crisis, intends to rely on exemptions recently granted by Canadian securities regulatory authorities that allow it to delay the issue of the 2019 Financial Statements, the 2019 MD&A and the 2019 AIF.
Without the exemptions, the Company would be required to issue and file its 2019 Annual Financial Statements, 2019 MD&A and 2019 AIF by 30 March 2020. In response to the global Coronavirus (Covid-19) pandemic, securities regulatory authorities in Canada have granted blanket exemptions allowing companies an additional 45 days in which to complete their regulatory filings.
The Company intends to rely on the exemptions to provide its Board of Directors and its recently appointed auditors adequate time to complete the full year audit. The Company and its auditors are making every effort to issue and file the 2019 Annual Financial Statements, 2019 MD&A and 2019 AIF at the earliest opportunity.
The Company’s management and other insiders will continue to observe a trading blackout consistent with the principles contained in Canadian National Policy 11-207 – Failure to File Cease Orders and Revocations in Multiple Jurisdictions – until such time as the 2019 Financial Statements, the 2019 MD&A and the 2019 AIF are filed.
About StageZero Life Sciences, Ltd.
StageZero Life Sciences is dedicated to the early detection of cancer and multiple disease states through whole blood. Aristotle®, our next generation test, is a panel for simultaneously screening for 10 cancers from a single sample of blood with high sensitivity and specificity for each cancer. Aristotle is built on our proven and proprietary Sentinel Principle Technology Platform which has been validated on 10,000 patients and used to develop the first liquid biopsy for Colorectal Cancer, with further validation currently underway. In addition to building a pipeline of products for early cancer detection, the Company operates a CAP accredited and CLIA certified reference laboratory based in Richmond, Virginia that offers the ColonSentry® test as well as licensed biomarker tests for breast and prostate cancers. To learn more visit www.stagezerolifesciences.com.
This press release contains forward-looking statements identified by words such as “expects”, “will” and similar expressions, which reflect the Company’s current expectations regarding future events. The forward-looking statements involve risks and uncertainties that could cause the Company’s actual events to differ materially from those projected herein. Investors should consult the Company’s ongoing quarterly filings and annual reports for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements, except as required by law.