Efficacious Elk Capital Corp. announces Reliance Upon Interim Financial Statement Filing Exemption

Vancouver, British Columbia – TheNewswire – August 31, 2020 – Efficacious Elk Capital Corp. (“EECC” or the “Company”) (TSXV:EECC.P), a capital pool company, is providing an update on the status of the filing of its interim financial statements and accompanying management’s discussion and analysis and related CEO and CFO certifications for the interim period ended June 30, 2020.

The British Columbia Securities Commission has enacted BC Instrument 51-517 (“BCI 51-517”) which allows for a 45-day extension for certain periodic filings required to be made on or prior to August 31, 2020. The Company will be relying on this extension and on the temporary exemption of its Group A filings pursuant to BCI 51-517 in respect to the following provisions:

– the requirement to file interim financial statements for the nine month period ended June 30, 2020 (the “Financial Statements”) within 60 days of the end of the interim period as required by section 4.4(b) of NI 51-102 – Continuous Disclosure Requirements (“NI 51-102”);

  • – the requirement to file management discussion and analysis for the period covered by the Financial Statements within 60 days of the end of the interim period as required by section 5.1(2) of NI 51-102; and

    – the requirement to file certifications of the Financial Statements pursuant to section 5.1 of National Instrument 52-109 – Certification of Disclosure in Issuers’ Annual and Interim Filings.

The Company has experienced delays in preparing such documents due to the ongoing COVID-19 restrictions in place in British Columbia. The Company continues to work on such interim filings and expects to make the above mentioned filings before October 15, 2020.

The Company confirms that its management and other insiders are subject to an insider trading black-out policy that reflects the principles in section 9 of National Policy 11-207 – Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.

The Company reports that there have been no material business developments since the filing of the Company’s interim financial statements for the six-month period ended March 31, 2020. Except as disclosed in this news release, there have been no material developments in respect of the Company that have occurred since June 1, 2020 being the date of the last filed interim financial statements.

About EECC

EECC is a capital pool company. The Company is engaged in the identification and evaluation of assets or businesses with a view to completing a qualifying transaction.

For further information please contact:

Eugene A. Hodgson, President and C.E.O.

Efficacious Elk Capital Corp.

Phone: (604) 805-6600

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.

Copyright (c) 2020 TheNewswire – All rights reserved.

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