Bennett Update.OAKVILLE, Ontario -- Bennett Environmental ("BEI Bei (pā, bā), river, c.200 mi (320 km) long, formed by the union of two headstreams in the Nanling Mts., N Guangdong prov., S China. It flows S into the Xi River, E of Guangzhou, to form the Pearl River delta. ") (TSX:BEV)(AMEX AMEX See: American Stock Exchange :BEL) announces an update to its press release of March 6, 2006 in which BEI announced that it is restating its annual consolidated financial statements Consolidated Financial Statements The combined financial statements of a parent company and its subsidiaries. Notes: Because consolidated financial statements present an aggregated look at the financial position of a parent and its subsidiaries, they enable you to gauge and related interim financial statements for the fiscal years ending December 31, 2003 and December 31, 2004. BEI is continuing to work closely with its auditor and has a goal to have the restated financial statements for those periods, along with the 2005 consolidated fourth quarter and annual financial statements, finalized by March 31, 2006 or as soon as is practical thereafter. Pending the filing of its financial statements and MD&A, BEI intends to satisfy the alternative information guidelines recommended by Ontario Securities Commission The Ontario Securities Commission (OSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of Ontario. The OSC is an Ontario Crown corporation which reports to the Ontario legislature through the Minister of Finance. ("OSC O.S.C. n. short for Order to Show Cause. (See: Order to Show Cause) ") Policy 57-603 and Canadian Securities Administrators Canadian Securities Administrators(CSA) is a forum for the 13 securities regulators of Canada's provinces and territories to coordinate and harmonize regulation of the Canadian capital markets. ("CSA (1) (Canadian Standards Association, Toronto, Ontario, www.csa.ca) A standards-defining organization founded in 1919. It is involved in many industries, including electronics, communications and information technology. ") Staff Notice 57-301, which includes providing bi-weekly updates of its business. BEI will request from the Canadian securities regulators that a management cease trade order related to BEI's securities be imposed against all persons who are directors, officers or insiders of BEI or who have been directors, officers or insiders of BEI during the period that the financial statements are being restated (2003, 2004), which cease trade order would generally not affect the ability of persons who have not been directors, officers or insiders of BEI to trade in BEI's securities. The current officers and directors of BEI have been under a self-imposed cease trade order since January 1 of this year. Forward Looking Statements Certain statements contained in this press release and in certain documents incorporated by reference into this press release constitute forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and "confident" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. BEI believes that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in, or incorporated by reference into, this press release should not be unduly relied upon. These statements speak only as of the date of this press release. BEI undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. About Bennett Environmental Inc. Bennett Environmental Inc. is a North American leader in high temperature treatment services for the remediation of contaminated soil and has provided thermal solutions to contamination problems throughout Quebec and the US. Bennett Environmental's technology provides for the safe, economical and permanent solution to contaminated soil. Independent testing has consistently proven that the technology operates well within the most stringent criteria in North America. Bennett Environmental is listed on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. (Trading Symbol "BEV") and the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. (Trading Symbol "BEL"). Bennett Environmental Inc. (TSX:BEV) (AMEX:BEL) |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion