Pearl River Announces Cancellation of Shareholders’ Meeting and Upcoming Auditor Change by Investing.com

LONDON, Ontario, December 12, 2024 (GLOBE NEWSWIRE) — PEARL RIVER HOLDINGS LIMITED (Pearl river) (TSXV: PRH ) announced that, due to the ongoing Canada Post strike, it has decided to cancel the annual general and special meeting of shareholders currently scheduled for January 31, 2025. Certain matters of capital compensation will require disinterested shareholder approval and therefore Pearl River should provide to meet delivery obligations under applicable securities laws. Pearl River will set a new stockholder meeting date once the strike is over.

Pearl River also announced that its current auditor, Crove MacKai LLP, has indicated that it will have to resign in order to comply with the Public Accountability Board of Canada’s rules, which require an engaged partner of the current auditor to submit an audit every seven (7) years. ŽUnfortunately, Crowe MacKai LLP does not have any other partners with sufficient capacity to complete the audit of Pearl River, and is therefore unable to fulfill this request. Pearl River is currently in the process of hiring a new auditor, and will make a further announcement after the new auditor is appointed by the Board of Directors of Pearl River. Z

About the Pearl River

Through its subsidiaries, Pearl River’s principal activity is the manufacture and distribution of plastic products in China, Australia and the United States.

For further information please contact:

George Lunick
CEO
T: (519) 645-0267
Email: george@lunick.ca

Neither TSKS Venture Exchange nor its regulation service provider (as that term is defined in the policies of TSKS Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. This press release specifically contains forward-looking information regarding the date of the shareholders’ meeting and the appointment of the new auditor. There can be no assurance that such information will prove to be accurate, and actual results and future events may differ materially from those anticipated in such information. This forward-looking information reflects Pearl River’s current beliefs and is based on information currently available to Pearl River and on assumptions Pearl River believes to be reasonable. These assumptions include, but are not limited to: Pearl River’s ability to hold a new stockholder meeting in due course and Pearl River’s ability to engage a new auditor. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause Pearl River’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied in such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainty; capital market conditions and market prices of securities; Ž actual results of ongoing development or operational activities; competition; changes in design parameters as the Plans continue to be refined; lack of insurance; delay or failure to obtain board or regulatory approval; changes in legislation, including environmental legislation, affecting the Pearl River; timeline and availability of external financing on acceptable terms; conclusions of economic assessments; and lack of qualified, skilled labor or loss of key people. A description of other risk factors that could cause actual results to differ materially from forward-looking information can be found in Pearl River’s disclosure documents on the SEDAR+ website at www.sedarplus.ca. Pearl River undertakes no obligation to update any forward-looking information except in accordance with applicable securities laws.

Source: Pearl River Holdings Limited