/NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES./
VANCOUVER, BC, May 4, 2021 /CNW/ - H-Source Holdings Ltd. (the Company) (TSXV:HSI) (OTCQB:HSCHF) wishes to announce that its annual financial statements for the year ended December 31, 2020, including the related management discussion and analysis, and CEO and CFO certifications (collectively, the 2020 Annual Financial Filings) were not filed by the required filing deadline of April 30, 2021.
The Annual Financial Filings were not filed on or before the Filing Deadline due to unforeseen impacts arising from the COVID-19 pandemic which have continued to delay the audit of the Company's annual financial statements.
The Company is working on the audit procedures required to complete the 2020 Annual Financial Filings and expects to be able to file the 2020 Annual Financial Filings on or before July 2, 2021. The Company will provide updates as further information relating to the 2020 Annual Financial Filings becomes available.
The Company has applied to the applicable securities regulatory authorities and received a management cease trade order related to the Company's securities to be imposed against the Chief Executive Officer and Chief Financial Officer of the Company to trade securities of the Company. The management cease trade order will be in effect until the 2020 Annual Financial Filings are filed, and requires that the 2020 Annual Financial Filings be filed on or before July 2, 2021.