BIOREM Announces Delay in Filing Annual Financial Statements

GUELPH, ON, April 29, 2020 /CNW/ - BIOREM Technologies Inc. (TSX-V: BRM) (“BIOREM” or “the Company”) announces that due to circumstances created by the Covid-19 pandemic, it will be postponing its reporting of the Company’s audited financial statements, accompanying management’s discussion and analysis, and related CEO and CFO certifications for the year ended December 31, 2019 (the “Annual Filings”), required to be filed by April 29, 2020 pursuant to National Instrument 51-102 - Continuous Disclosure Obligations (“NI 51-102”).

This news release is being issued in accordance with the blanket relief of a 45-day extension provided by the Canadian Securities Administrators and Ontario Instrument 51-502 - Temporary Exemption from Certain Corporate Finance Requirements for periodic filings normally required to be made by issuers during the period from March 23, 2020 to June 1, 2020.

BIOREM expects to file its Annual Filings by May 8, 2020.

Until such time as the Annual Filings are filed, management and other insiders of the Company will observe a trading blackout consistent with the principles contained in National Policy 11-207 – Failure-to-File Cease Orders and Revocations in Multiple Jurisdictions.

The Company confirms that there have been no material business developments that have occurred since the filing of its financial statements and management’s discussion and analysis for the three (3) and nine (9) months ended September 30, 2019 and November 20, 2019.

Despite minor interruptions in activities due to Covid-19, BIOREM’s staff, Board and affiliates remain well and are practicing social distancing in line with official guidelines. Our advanced line of air emission products provide essential equipment to critical infrastructure projects and all facilities remain open to ensure continuity of service.

About BIOREM Inc.

BIOREM is a leading clean technology company that designs, manufactures and distributes a comprehensive line of high-efficiency air emissions control systems used to eliminate odors, volatile organic compounds (VOCs), and hazardous air pollutants (HAPs). With sales and manufacturing offices across the continent, a worldwide sales representative network and more than 1,400 installed systems worldwide, BIOREM offers state-of-the-art technology-based products and peace of mind for municipalities, industrial companies and their surrounding communities. Additional information on BIOREM is available on our website at www.biorem.biz.

SOURCE Biorem Inc.