Playground Announces Cease Trade Order
Playground Announces Cease Trade Order
Toronto, Ontario--(Newsfile Corp. - May 10, 2023) - Playground Ventures Inc. (CSE: PLAY) (the "Company"), announces that the Ontario Securities Commission (the "OSC") has issued a failure to file cease trade order against the Company in respect of the Company's securities under Multilateral Instrument 11-103 Failure-to-File Cease Trade Orders in Multiple Jurisdictions (the "CTO").
安大略省多倫多-(Newsfile Corp.-2023年5月10日)-遊樂場風險投資公司。(CSE：實演)(“公司“)，宣佈安大略省證券事務監察委員會(”OSC“)已根據多邊文書11-103《未能在多個司法管轄區提交停止交易令》，就本公司的證券發出針對本公司的停止交易令。CTO“)。
The CTO was issued as a result of the Company's failure to file its audited consolidated financial statements for the year ended December 31, 2022, annual management's discussion and analysis for the same period and management certifications of annual filings (collectively, the "Annual Filings") before the May 1, 2023 filing deadline.
由於本公司未能提交其截至2022年12月31日止年度的經審計綜合財務報表、同期年度管理層的討論及分析，以及年度申報的管理證明(統稱為“年度提交檔案“)在2023年5月1日提交截止日期之前。
The delay is due to lack of funds. An insider of the Company has advanced $33,900 to the Company to pay for the preparation of the financial statements. The Company anticipates that it will be able to file the financial statements and MD&A on or prior to July 30, 2023.
推遲是因為缺乏資金。該公司的一名內部人士已向該公司預支33,900美元，以支付編制財務報表的費用。該公司預計將能夠在2023年7月30日或之前提交財務報表和MD&A。
The advance is pursuant to a secured promissory grid note (the "Bridge Note") in the principal amount of up to $50,000, held by a non-arm's length lender (the "Lender") of the Company. The Bridge Note matured on April 17, 2023 (the "Term"), and is secured against all of the assets of the Company. Amounts outstanding under the Bridge Note bear interest of 8% per annum payable with any outstanding principal at the end of the Term, and the interest increases to 15% per annum upon an event of default. The Bridge Note is noted in default and now bears interest of 15% per annum. For more details on the Bridge Note, see the Company's press release dated February 16, 2023.
這筆預付款是根據有擔保的期票網格票據(“駕駛臺筆記本金不超過50,000美元，由非公平貸款人(The出借人橋牌票據於2023年4月17日到期(術語“)，並以本公司所有資產作抵押。過渡性票據項下的未償還款項的利息為年息8%，於期末任何未償還本金應付，一旦發生違約，利息增加至年利率15%。橋樑票據為違約票據，現時的年利率為15%。有關過渡性票據的更多詳情，請參閱公司於2023年2月16日發佈的新聞稿。
The advance under the Bridge Note constituted a "related party transaction" as defined in Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions ("MI 61-101"), as the Lender is a director and officer of the Company. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(g) and 5.7(1)(e) of MI 61-101, as the Company is in financial difficulty and the transaction is designed to improve the financial position of the Company, as determined in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the Bridge Note, which the Company deems reasonable.
過渡性票據項下的預付款構成多邊文書61-101所界定的“關聯方交易”--特殊交易中少數股證券持有人的保護(“米其林61-101“)，因為貸款人是董事及本公司的高級管理人員。本公司依據MI 61-101第5.5(G)及5.7(1)(E)條所載豁免遵守MI 61-101的估值及小股東批准的規定，因為本公司陷入財政困難，而該項交易旨在改善本公司的財務狀況，根據MI 61-101釐定。本公司並無於過橋票據結束前最少21天提交本公司認為合理的關連交易重大變動報告。
The Bridge Note was approved by the member of the board of directors of the Company who is independent for the purposes of the Bridge Note. No special committee was established in connection with the Bridge Note, and no materially contrary view or abstention was expressed or made by any director of the Company in relation thereto.
橋樑票據由本公司董事會成員批准，該成員就橋樑票據而言是獨立的。概無就過橋票據成立特別委員會，本公司任何董事亦無就此表達重大相反意見或投棄權票。
For further information, please contact:
Jon Gill, Chairman and Interim Chief Financial Officer
Tel: 416-361-1913
Email: investors@playgroundventures.com
如需更多資訊，請聯繫：
喬恩·吉爾，董事長兼臨時首席財務官
電話：416-361-1913
電子郵件：Investors@playround ventures.com
Forward-Looking Information
前瞻性資訊
This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
本新聞稿包含適用證券法所指的某些“前瞻性資訊”。前瞻性資訊的特點常常是“計劃”、“預期”、“專案”、“打算”、“相信”、“預期”、“估計”、“可能”、“將”、“將”、“可能”、“建議”和其他類似的詞語，或某些事件或條件“可能”或“將”發生的陳述。這些聲明只是預測。前瞻性資訊以提供資訊之日管理層的意見和估計為基礎，會受到各種風險、不確定因素和其他因素的影響，這些因素可能會導致實際事件或結果與前瞻性資訊中預測的大不相同。關於公司及其業務和事務面臨的風險和不確定因素的描述，讀者應參考公司管理層的討論和分析。除非法律要求，否則如果情況或管理層的估計或意見發生變化，公司不承擔更新前瞻性資訊的義務。告誡讀者不要過度依賴前瞻性資訊。
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譯文內容由第三人軟體翻譯。