Mon Apr 27, 2020 China Education Resources Inc. Updates Timing of theRelease of Its Audited Financial Results for the YearEnded December 31, 2019
VANCOUVER, Canada (April 27, 2020) - China Education Resources, Inc. ("CER") (TSXV: CHN) (OTCQB: CHNUF), an ed-tech company with leading technology of intelligent system and contents to provide online/offline learning, training courses and social media for teachers, students and education professionals, today provides shareholders and investors with an update on timing of the release of its audited financial results for the year ended December 31, 2019.
On March 23, 2020, Canadian Securities Regulators published temporary blanket relief for market participants from certain regulatory filings as a result of COVID-19. CER is utilizing the temporary blanket relief which provides for a 45-day extension to file its audited annual financial statements and MD&A for the period ending December 31, 2019. CER expects to file its audited annual financial statements and accompanying MD&A on or before June 15, 2020. The Company also intends to rely on the 45-day extension in filing its quarterly financial statements and MD&A for the period ending March 31, 2020 and expects to file its Q1 financial statements and accompanying MD&A on or before July 15, 2020.
The Company's management and other insiders are subject to a trading blackout until the end of the second trading day after the 2019 Annual Filings and Q1 financial statements are filed. At this time, the company anticipates the 2019 Annual Filings will be completed within the 45-day extension period.
CER's business has now been back to normal even though COVID-19 is currently slowing down the global economy. We will provide update to the shareholders when more information is available.
In collaboration with China's education administrators and experts, China Education Resources has been helping to transform the curriculum of the world's largest educational system. Recognizing the need to address education reform changes, China Education Resources has created educational tools and curriculum for China's entire kindergarten through twelfth grade. The Company is playing an integral part in transforming China's educational system through helping to convert the existing educational system from memory-based learning to a creative thinking and interactive approach. Presently, China Education Resources has over 1 million kindergarten through twelfth grade teachers registered through its Web portal.
Safe Harbor Statement
Certain statements made herein, and other statements relating to matters that are not historical facts and statements of our beliefs, intentions and expectations about developments, results and events which will or may occur in the future, constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information and statements are typically identified by words such as "anticipate", "could", "should", "expect", "seek", "may", "intend", "likely", "plan", "estimate", "will", "believe" and similar expressions suggesting future outcomes or statements regarding an outlook. All such forward-looking information and statements are based on certain assumptions and analysis made by China Education Resources, Inc.'s management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include those described under the heading "Risks and Uncertainties" elsewhere in the Company's MD&A filed at www.SEDAR.com. The reader is cautioned not to place undue reliance on forward-looking information or statements. Except as required by law the Company does not assume the obligation to revise or update these forward looking statements after the date of this document or to revise them to reflect the occurrence of future, unanticipated events.
The TSX Venture Exchange has not reviewed, and does not accept, responsibility for the adequacy or accuracy of the contents of this press release.
Contact China Education Resources at: (604) 331-2388 Email:
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