VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 4, 2013) - LCTI Low Carbon Technologies International Inc. LCT
NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA
LCTI Low Carbon Technologies International Inc. ("LCTI") announces today that it does not expect to file its audited annual financial statements for the fiscal year ended August 31st, 2012 and its management's discussion and analysis relating thereto (collectively, the "Required Filings") before the prescribed deadline of December 31st, 2012.
The expected delay in filing the Required Filings is principally related to the delays associated with the complexities of the Company's audit.
LCTI has and continues to make every effort to file the Required Filings in a timely fashion and expects to file the audited annual financial statements by Feb. 28th, 2013.
LCTI is in the process of making an application with the British Columbia Securities Commission ("BCSC") and other applicable securities regulators under National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults ("National Policy 12-203") requesting that a management cease trade order (an "MCTO") be imposed in respect of the late filings. There is no guarantee that an MCTO will be granted. If an MCTO is granted, an MCTO will prohibit the chief executive officer, the chief financial officer, the directors, other officers and other insiders of LCTI from trading in securities of LCTI for so long as the Required Filings are not filed. The issuance of an MCTO does not generally affect the ability of persons who are not directors, officers or other insiders of LCTI to trade in LCTI's securities.
LCTI confirms that it will satisfy the provisions of the alternative information guidelines under National Policy 12-203 by issuing bi-weekly default status reports in the form of news releases so long as it remains in default of the filing requirements set out above.
FORWARD-LOOKING STATEMENTS: Certain statements contained in this press release constitute forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and "confident" and similar expressions are intended to identify forward-looking statements. LCTI believes that the expectations reflected in these forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in, or incorporated by reference into, this press release should not be unduly relied upon. These statements speak only as of the date of this press release. LCTI undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Please visit the company's website at www.lctiinc.com.
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by LCTI.
(Not for dissemination in the United States of America)
About LCTI Low Carbon Technologies International Inc.
LCTI is a clean-tech company which has acquired profitable operating businesses, real estate assets, and clean-tech energy technologies. LCTI utilizes these real estate assets and technologies in the development of clean-tech energy projects. LCTI also combines the technology licenses with the profitable operating businesses creating profitable clean-tech companies.
The company trades under the symbol (LCT) on the Canadian National Stock Exchange. (www.cnsx.com)
FOR FURTHER INFORMATION PLEASE CONTACT:
LCTI Low Carbon Technologies International Inc.
Bryan Scott Jarnagin, CEO/President
4010 Bluebonnet Ste. 209 Houston, TX 77025
Direct Line: (832) 267-8424
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