BIOREM Announces Delay in Filing Interim Financial Statements

GUELPH, ON, May 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 interim consolidated financial statements, accompanying management’s discussion and analysis, and related CEO and CFO certifications for the three months ended March 31, 2020 (the “First Quarter Filings”), required to be filed by May 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 First Quarter Filings by June 24, 2020.

Until such time as the First Quarter 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 twelve (12) months ended December 31, 2019 on May 20, 2020.

Despite minor interruptions in activities due to COVID19, 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 BIORWEM is available on our website at www.biorem.biz.

SOURCE Biorem Inc.