Stompy Bot Corporation
CNSX : BOT

Stompy Bot Corporation

April 29, 2016 15:03 ET

Stompy Bot Corporation Provides Notice of Default

TORONTO, ONTARIO--(Marketwired - April 29, 2016) - Stompy Bot Corporation (CSE:BOT) (the "Company") announces that it will be late in filing its annual financial statements and management discussion and analysis ("MD&A") for the year ended December 31, 2015, on the prescribed deadline of April 29, 2016.

The Company has made an application with the applicable securities regulators under National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203") requesting that a management cease trade order be imposed in respect of this late filing rather than an issuer cease trade order. The issuance of a management cease trade order generally does not affect the ability of persons who have not been directors, officers or insiders of the Company to trade in their securities.

The Company has been unable to complete the required filings due to a lack of capital to complete its audit. As a result, the Company requires additional time to raise sufficient capital to complete its annual financial statements, MD&A and audit.

The Company is in discussions with a potential purchaser in connection with a proposed asset sale transaction involving the Company's various mineral properties. The Company anticipates that it will be able to secure sufficient funding from the sale transaction to prepare and file the annual financial statements and MD&A on or prior to May 31, 2016.

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 for so long as it remains in default of the filing requirements to file its financial statements and MD&A within the prescribed period of time. The Company confirms that there is no other material information relating to its affairs that has not been generally disclosed.

Forward-Looking Information

Certain information set forth in this news release may contain forward-looking information that involve substantial known and unknown risks and uncertainties. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking information. The parties undertake no obligation to update forward-looking information except as otherwise may be required by applicable securities law.

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