TORONTO, ONTARIO--(Marketwired - April 26, 2013) - Intellectual Capital Group Ltd. ("ICG" or the "Company") (TSX VENTURE:ICL) announces that it will be unable to file its audited financial statements for the financial year ended December 31, 2012, related management's discussions and analysis and CEO and CFO certificates (collectively the "Financial Statements") by the filing deadline of April 30, 2013 as prescribed by National Instrument 51-102 - Continuous Disclosure Obligations.
The Company will be unable to file the Financial Statements by the prescribed deadline due to the Company's limited financial resources.
The Company is unable to state at this time when it may be able to file the Financial Statements. However, the Company will only file its Financial Statements when it has the necessary financial resources.
It is anticipated that the applicable regulatory authorities will issue a cease trade order against the Company for its failure to file the Financial Statements within the prescribed time period.
The evolution of Intellectual Capital Group (ICG) has led to a focus of its management expertise on the creation of partnerships and investment opportunities in best-of-breed entrepreneurial ventures in Loyalty and Communications. This includes personal management, event and content creation, digital applications, and branding and marketing consulting.
This press release contains "forward looking information" within the meaning of applicable Canadian securities legislation. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "creating partnerships and making investments", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive and regulatory risks. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.