Sitebrand Inc.
TSX VENTURE : SIB

Sitebrand Inc.

April 01, 2011 09:00 ET

Sitebrand Inc.: Annual Financial Statements Delayed

OTTAWA, ONTARIO--(Marketwire - April 1, 2011) - SiteBrand Inc. (TSX VENTURE:SIB) ("SiteBrand" or the "Company"), announced today that it is late in filing its annual financial statements, MD&A and related CEO and CFO certificates for its fiscal year‐ended November 30, 2010 (the "Year End Filings"). The Year End Filings are required to be filed no later than March 30, 2011.

The late filing of the Year End Filings is due to the previously announced bankruptcy of the Company's operating subsidiary, SiteBrand.com Inc., and the related constraints on resources and uncertainty surrounding the Company's strategic alternatives. The Company has announced that it intends to complete a private placement and has made arrangements to finalize and audit its annual financial statements for its fiscal year‐ended November 30, 2010. 

As a result of this delay in filing, a cease trade order can be issued by the securities regulatory authorities for so long as the Year End Filings have not been made. The issuance of a cease trade order would prevent trading in SiteBrand shares generally and the issuance of any securities by SiteBrand. 

In the event that a cease trade order is issued, SiteBrand can apply for and obtain a full or partial revocation of the cease trade order in the appropriate circumstances. There can be no certainty that such a full or partial revocation order will be granted.

Disclaimer: Statements in this release that are forward looking involve known and unknown risks and uncertainties, which may cause the company's actual results in future periods to be materially different from any future performance that may be suggested in this release. The company assumes no obligation to update any forward-looking statements contained in this release. Neither 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.

Contact Information

  • Sitebrand
    John Eckert
    Chairman of the Board
    416-363-2000