Straight Forward Marketing Corporation

November 20, 2006 17:01 ET

Straight Forward Marketing Corporation: Default Status Report

TORONTO, ONTARIO--(CCNMatthews - Nov. 20, 2006) - Straight Forward Marketing Corporation (CNQ:SFMC) is providing an update in accordance with Ontario Securities Commission ("OSC") Policy 57-603 Defaults by Reporting Issuers in Complying with Financial Statement Filing Requirements (the "OSC Policy"). The directors and officers of SFM are currently subject to a cease trade order in respect of securities of the Corporation issued by the OSC on November 2, 2006. The cease trade order resulted from the delay in filing the Corporation's annual financial statements for the year ended June 30, 2006 which were required to be filed on October 30, 2006. The late filing of the required statements is due to delays in closing a proposed financing and a delay in information being forwarded to the auditors of the Company.

Based on the work completed to-date, SFM anticipates that the annual financial statements will be filed by December 29, 2006. SFM will continue to provide bi-weekly updates, as contemplated by the OSC Policy, until the financial statements have been filed. In the event that SFM does not file its annual statements by December 29, 2006, the Ontario Securities Commission may impose an Issuer Cease Trade Order. SFM intends to satisfy the provisions of the Alternative Information Guidelines during the period SFM remains in default of the filing requirements.

Contact Information

  • Straight Forward Marketing Corporation
    Brian Kennedy
    (416) 567-5643