|By Marketwired .||
|April 28, 2014 04:03 PM EDT||
ARVADA, COLORADO -- (Marketwired) -- 04/28/14 -- Industrialex Manufacturing Corp. (TSX VENTURE:IXC.U), a leading provider of industrial coating services, today announced that its board of directors determined not to incur the substantial expense of retaining auditors to audit the year-end financial statements for the year ended December 31, 2013 and therefore the Company will be unable to file audited financial statements with the British Columbia Securities Commission. However, a copy of un-audited Financial Statements for year ended December 31, 2013 will be available for any Industrialex shareholder.
The Company's decision not to file audited financial statements will be contrary to Part 4 of National Instrument 51-102 Continuous Disclosure Obligations. The Company has been advised that this will almost certainly result in the issuance of cease trade orders by the regulatory authorities having jurisdiction, including the British Columbia Securities Commission and in a trading suspension by and, in due course, a delisting of its shares from, the TSX Venture Exchange. In such event as the Company's operations continue, its shareholders will have the same rights and privileges as provided for in the Company's articles of incorporation and by-laws.
Headquartered in Arvada, Colorado, the Company provides industrial coating and Contract Manufacturing Services.
On behalf of the Board of Industrialex Manufacturing Corp.
Ahmad Akrami, Chairman & CEO
The statements made in this press release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from Industrialex's expectations and projections.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Telephone: (303) 456-6847