Toronto, Ontario--(Newsfile Corp. - June 6, 2024) - Impact Development Group Inc. (TSXV: IMPT) (formerly Yubba Capital Corp.) ("Impact Development Group" or the "Company") announces that the Ontario Securities Commission has issued a revocation order revoking the failure-to-file cease trade order issued against the Company on May 8, 2024 (the "FFCTO"). The FFCTO was issued for failing to file its annual audited financial statements and related management discussion and analysis and certifications for the financial year ended December 31, 2023 as required by National Instrument 52-109 - Certification of Disclosure in Issuers' Annual and Interim Filings ("NI 52-109") by April 30, 2024. ("Required Filings"). On June 5, 2024 the Company filed the Required Filings. The Required Filings are available for review under the Company's profile on SEDAR+ (). Following the filing of the Required Filings, the Company is up to date with its continuous disclosure obligations. The Company will be following up with the TSX Venture Exchange to remove the suspension and resume trading of the Company's common shares, which resumption when effected will be confirmed in a follow up press release. The Company confirms that its business has not changed, remains active, and there are no changes to its current business plan.
About Impact Development Group
Impact Development Group is a Panamanian based real estate developer that provides affordable housing solutions to Panama's growing middle-class supported by a longstanding subsidized government program. The vision of IHC Panama is effectuated by a vertically integrated model which coordinates all services necessary to develop high-quality residential and commercial buildings, including land acquisition, financing, architectural, engineering, off-site manufacturing, general contracting, property management, and administration.
Neither the 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 release.
For further information, please contact:
Tom Wenz, Director and CEO
Phone: + 1 (702) 329-8038
Email: twenz@ihcpanama.com
Forward-Looking Information
This document contains forward-looking statements about expected future events with respect to trading in the common shares of the Company. Actual results may vary from the forward-looking information. The Company may not be able to successfully complete the resumption of trading of its common shares. Risks and uncertainties exist that may cause actual results to differ materially from those indicated or implied in the forward-looking statements and information, such as: the Company's ability to complete a reinstatement application; the Company's ability to meet resume trading of its common shares; reliance on key management; disruptions or changes in the credit or security markets; unanticipated costs and expenses; and general market and industry conditions. The forward-looking statements, while considered reasonable by the Company, are inherently based upon assumptions that are subject to significant risks and uncertainties. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, they can give no assurances that the expectations of any forward-looking statements will prove to be correct. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
