Emergia Inc. Postpones Filing of Interim Financial Statements and MD&A Due to COVID-19 Related Delays and Provides Update Regarding Release of Annual Financial Statements and MD&A

MONTREAL, June 01, 2020 (GLOBE NEWSWIRE) -- (CSE: EMER) Emergia Inc. (the “Corporation” or “Emergia”) announced today that it has postponed filing its interim financial statements and management's discussion and analysis for the period ended March 31, 2020 (collectively, its "Interim Documents") due to delays caused by coronavirus disease 2019 pandemic (“COVID-19”). Further to its announcement on April 20, 2020, the Corporation continues to postpone the filing its annual financial statements and management's discussion and analysis for the year ended December 31, 2019 (collectively, its “Annual Documents”) to June 15, 2020.

Emergia is relying on the exemption provided by the local blanket orders granted by the provincial securities regulators, permitting the Corporation to extend the filing deadlines of its Interim Documents and its Annual Documents by up to 45 days. In response to COVID-19, securities regulatory authorities in Canada have granted a blanket exemption allowing issuers an additional 45 days to complete their regulatory filings.

The Corporation estimates that its Interim Documents will be filed on or before July 15, 2020. Until such time as the Interim Documents are filed, Emergia’s management and other insiders are subject to a trading black-out policy that reflects the principles contained in section 9 of National Policy 11-207.

Emergia confirms that since April 20, 2020, the date of the last summary of the material business developments filed by the Corporation, there have been no material business developments for the Corporation.

ABOUT EMERGIA INC.

EMERGIA operates mainly in Canada in the development, acquisition and management of multi-purpose real estate, including retail, multi-residential, industrial, and office buildings as well as land for future development. The Corporation’s investment platform is based on an integrated, agile and efficient develop-to-own strategy that enables EMERGIA to benefit from development profits and the value-add while securing stable long-term returns.

For more information, please visit www.emergia.com and www.sedar.com. EMER.CN

Source: Emergia Inc.
For more Information, please contact:

Henri Petit
CEO
T: 1.888.520.1414 (Ext. 231)
E: [email protected]

Forward-Looking Information

This press release contains forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of historical facts contained in this press release are forward-looking information. Such statements and information may be identified by looking for words such as “about”, “approximately”, “may”, “believes”, “expects”, “will”, “intend”, “should”, “plan”, “predict”, “potential”, “project”, “anticipate”, “estimate”, “continue” or similar words or the negative thereof or other comparable terminology. Such forward-looking information includes, without limitation, statements with respect to the effect of the COVID-19 pandemic on the Corporation’s financial condition, the anticipated closing of the Private Placement, business strategy and plans, and objectives of or involving the Corporation. The forward-looking information is based on certain key expectations and assumptions made by the Corporation, including expectations and assumptions concerning satisfaction of all conditions of closing, absence of exercise of any termination right and the timing and receipt of regulatory approval with respect to the Private Placement and the issuance of the private placement shares and the availability of capital resources. Although the Corporation believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information since no assurance can be given that they will prove to be correct. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the effect of the COVID-19 pandemic on the Corporation’s financial condition, the real estate industry, and society as a whole. the market for the common shares, volatility of market price for common shares and other risks generally attributable to the business of the Corporation. For additional information with respect to risks and uncertainties, refer to the MD&A of the Corporation filed on SEDAR at www. sedar.com.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE CORPORATION AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE CORPORATION MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE SECURITIES LEGISLATION.