TORONTO, ONTARIO--(Marketwired - Feb. 11, 2014) - Innovative Composites International Inc. (CSE:IC)(OTCQX:ICIZF) ("ICI" or the "Corporation") is pleased to announce the filing of 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").
On January 24, 2014, the Corporation announced that it was applying to the Ontario Securities Commission for a management cease trade order (the "MCTO"), which was granted on February 7, 2014, for failing to file the Required Filings before the January 28, 2014 filing deadline, but with the expectation that such filing would occur by February 11, 2014. Once the Ontario Securities Commission has reviewed the Required Filings, it is expected that the MCTO will be lifted.
In accordance with the provisions of the alternative information guidelines specified by National Policy 12-203, the Corporation reports that since the January 24, 2014 announcement there have not been any other material changes to the information contained therein, nor any failure by the Corporation to fulfil its intentions as stated therein with respect to satisfying the provisions of the alternative information guidelines, and there are no additional defaults, other than the delay in filing the Required Filings. There is no additional material information respecting the Corporation and its affairs that has not been generally disclosed and there are no insolvency proceedings against the Corporation as of the date hereof.
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.