Crownia Delays Annual Financial Filing

Tags: #Manufacturing

Vancouver, British Columbia - TheNewswire - October 30, 2019 - Crownia Holdings Ltd. (TSXV:CNH) (OTC:CWNHF) ("Crownia" or the "Company") announces today that, further to its news release of October 18, 2019, it will be delayed in filing its audited annual financial statements, management's discussion and analysis and related certifications for the fiscal year ended June 30, 2019 (the "Documents"), which were due on October 28, 2019. The delay in filing was due to the delays associated with settling the outstanding accounts of its external auditors.

The Company believes that the Documents should be finalized and filed by December 27, 2019.

In connection with this delay, the Company expects that the British Columbia Securities Commission (the "BCSC") will be issuing a cease trade order ("CTO") against the Company, rather than the management cease trade order originally sought by the Company as announced on October 18, 2019. The Company expects that CTO to affect trading in all securities of the Company in Canada and to remain in effect until such time as the Company files the Documents. The Company will issue a further news release when the Documents have been filed.

About Crownia Holdings Ltd.

As a specialty steel trading company, Crownia provides value-add by identifying suitable suppliers for products that best suit customer needs, establishing distribution centers in optimal locations, and providing superior sales and after-sale services to customers.

On behalf of the Board of Directors,

Crownia Holdings Ltd.

"Xizhou Tong"

Xizhou Tong

Chairman and CEO


Xizhou Tong - Chairman and CEO


The Company's filings are available for review at

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 news release.

Forward-looking information

This press release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein may be forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans" "expects" or "does not expect", "proposed", "is expected", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information in respect of the Company reflects the Company's as the case may be, current beliefs and is based on information currently available to the Company and on assumptions the Company as the case may be, believes are reasonable.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Copyright (c) 2019 TheNewswire - All rights reserved.

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