MARKHAM, ON, June 28 /PRNewswire-FirstCall/ -- CoolBrands International Inc. (TSX: COB) provides this status update pursuant to the Ontario Securities Commission Policy 57-603.
There have not been any material changes or other material information concerning the affairs of the Company that has not been generally disclosed since the Status Update filed on June 13, 2007.
The Company remains under a management cease trade order related to CoolBrands' securities against persons who have been directors, officers or insiders of CoolBrands as a result of the Company's failure to file the required certifications of its Chief Executive Officer and Chief Financial Officer under Multilateral Instrument 52-109 - Certification of Disclosure in Issuers' Annual and Interim Filings. Such order does not generally affect the ability of persons who have not been directors, officers or insiders of CoolBrands to trade CoolBrands' securities.
Until such time as the management cease trade order is lifted, CoolBrands intends to satisfy the alternative information guidelines recommended by Ontario Securities Commission Policy 57-603 ("OSC Policy 57-603").
Forward Looking Statements
This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding, among other things, statements relating to goals, plans and projections regarding CoolBrands' financial position and business strategy. These statements may be identified by the fact that they use such words as "anticipate", "estimate", "expect", "intend", "plan", "believe" and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations. These factors include, among other things, market factors, the ability of CoolBrands to effectively manage the risks inherent with divestitures, mergers and acquisitions, currency risk exposure, existing and potential litigation involving the Company, the performance of management, including management's ability to implement its plans as contemplated, CoolBrands' relationship with its customers, franchisees, licensees and licensors, governmental regulations and legislation. CoolBrands undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
© 2007 PR Newswire
