Newlook Industries Corp.
CNSX : NLI

Newlook Industries Corp.

May 09, 2011 20:10 ET

Newlook Announces Temporary Cease Trade Order

TORONTO, ONTARIO--(Marketwire - May 9, 2011) - Newlook Industries Corp. ("Newlook" or the "Company) (CNSX:NLI) announces that a temporary cease trade order has been issued by the Ontario Securities Commission ("OSC") today. The OSC has issued the order due to the Company's delay in filing its annual financial statements along with associated management discussion and analysis and CEO/CFO certifications (the "Annual Filings") for the year ending December 31, 2010.

The temporary order directs that all trading in the securities of the Company, whether direct or indirect, cease for a period of fifteen days from today. The Company's intention is to issue the Annual Filings shortly so that the temporary order will lapse and trading will recommence as soon as possible. As announced on May 2, 2011, the Company and its auditors, Deloitte LLP, are working diligently on finalizing the Annual Filings for issuance.

The Company confirms that it will satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing bi-weekly default status reports in the form of news releases as long as it remains in default of the filing requirements to file the Annual Filings within the prescribed period of time. Newlook is not subject to any insolvency proceedings at the present time. The Company confirms that there is no other material information relating to its affairs that has not been generally disclosed.

Newlook Industries Corp., headquartered in King City, Ontario is a publicly-traded company listed on the Canadian National Stock Exchange (CNSX). For more information please refer to www.sedar.com. The management of the company, who take full responsibility for its content, prepared this press release. This press release contains forward-looking statements relating to future events and results that are based on Newlook's current expectations. These statements involve risks and uncertainties including, without limitation, Newlook's ability to successfully develop and market its products, consumer acceptance of such products, competitive pressures relating to price reductions, new product introductions by third parties, technological innovations, and overall market conditions. Consequently, actual events and results in future periods may differ materially from those currently expected.

The CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this release.

Contact Information

  • Newlook Industries Corp.
    Michael E. Duffy
    Chief Administrative Officer
    (905) 833-3072 x225