ThermoCeramix Corporation

TSX VENTURE : TCX


April 29, 2014 08:00 ET

ThermoCeramix Corporation Files Second Quarter Financial Statements, Annual Consolidated Audited Financial Statements of ThermoCeramix, Inc., Announces Change in Year-End and Change of Auditor

TORONTO, ONTARIO--(Marketwired - April 29, 2014) -

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

ThermoCeramix Corporation (TSX VENTURE:TCX) (the "Corporation") today released its unaudited interim financial statements for the three-month and six-month periods ended February 28, 2014 and the related management's discussion and analysis of financial position and results of operations ("MD&A").

Effective March 31, 2014 the Corporation completed its qualifying transaction (the "Qualifying Transaction") by acquiring all of the issued and outstanding securities of ThermoCeramix, Inc. ("TCX") as outlined in the filing statement of the Corporation dated March 26, 2014.

In addition, the Corporation announced that, pursuant to section 4.10 of National Instrument 51-102 - Continuous Disclosure Obligations, the Corporation has filed on SEDAR the annual consolidated audited financial statements of TCX for the year ended December 31, 2013.

Copies of the unaudited financial statements and related MD&A of the Corporation for the three-month and six-month periods ended February 28, 2014 as well as the annual consolidated audited financial statements of TCX for the year ended December 31, 2013 can be found on SEDAR at www.sedar.com.

Change of Year-End and Change of Auditor

The Corporation also announced that it is changing its financial year-end from August 31 to December 31. The purpose of the change in financial year-end is to match the Corporation's year-end with that of TCX in connection with the completion of the Qualifying Transaction. The Corporation's first financial year-end following the completion of the Qualifying Transaction will be December 31, 2014. The Corporation's first interim period following the completion of the Qualifying Transaction will be the three-month period ended March 31, 2014. Pursuant to section 4.9 of National Instrument 51-102 - Continuous Disclosure Obligations, the Corporation has filed on SEDAR an amended Notice of Change in Corporate Structure.

In addition, the Corporation announces that effective as of March 31, 2014 (the closing date of the Qualifying Transaction), McGovern, Hurley, Cunningham, LLP, Chartered Accountants will no longer be the auditor of the Corporation. The Corporation is pleased to confirm that Raymond Chabot Grant Thornton LLP, Chartered Accountants have been appointed as auditor. The change in auditor arises as a result of the completion of the Qualifying Transaction. The Corporation advises that no reportable event has occurred.

About ThermoCeramix Corporation

The Corporation is an engineering company incorporated under the Ontario Business Corporations Act. The Corporation is engaged in the research and development of heating solutions for industrial, commercial and residential applications. These solutions utilize TCX™ film heater technology, a patented and proprietary technology for which the Corporation holds a patent portfolio.

Neither TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release is intended for distribution in Canada only and is not intended for distribution to the United States newswire services or dissemination in the United States. The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction.

Forward-Looking Statements

Certain information set forth in this press release may contain "forward-looking statements" or "forward-looking information" under applicable securities laws. Except for statements of historical fact, certain information contained herein may constitute forward-looking statements. Any such forward-looking statements may be identified by words such as "will", "expects", "anticipates", "believes", "projects", "plans" and similar expressions. Any such statements are not guarantees of future performance and undue reliance should not be placed on them. Any such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Corporation's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. There can be no assurance that any such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

Contact Information

  • ThermoCeramix Corporation
    Louis Desmarais
    President and Chief Executive Officer
    Telephone: (450) 641-5461
    Email: info@thermoceramix.com