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Message: Default Status Report
| January 9, 2009 |
| CV Technologies Provides Default Status Report |
| EDMONTON, ALBERTA--(Marketwire - Jan. 9, 2009) - CV Technologies Inc. (TSX:CVQ) CV Technologies Inc. (the "Company") is providing its first bi-weekly Default Status Report in accordance with National Policy 12-203 ("NP 12-203"). On December 26, 2008, the Company announced that it was not able to file its annual financial statements, accompanying management's discussion and analysis, and related CEO and CFO certifications (collectively, the "2008 Annual Financial Materials") for the financial year ended September 30, 2008 within the 90 day period prescribed for the filing of the 2008 Annual Financial Materials under applicable securities laws. In accordance with NP 12-203, and as previously announced, the Company made application to applicable regulatory authorities for management cease trade orders as an alternative to having general cease trade orders being imposed for the Company's failure to file the 2008 Annual Financial Materials within the prescribed period. As previously announced, management cease trade orders were issued by the Alberta Securities Commission ("ASC") and Ontario Securities Commission ("OSC"), pursuant to which the Company's directors, officers and other insiders named in the orders are restricted from trading in the Company's securities while the orders are in place, as opposed to a general trading restriction on all shareholders. The Company reports that since making the initial default announcement on December 26, 2008, there have not been any material changes to the information contained therein, nor any failure by the Company to fulfill its intentions as stated therein, and there are no additional defaults or anticipated defaults subsequent to such announcement. Further, there have been no additional material changes in respect of the Company and its affairs that have not been generally disclosed. The Company continues to anticipate that the Annual Financial Materials will be filed on or before January 12, 2009. Pursuant to NP 12-203, the Company will continue to provide bi-weekly updates until the Annual Financial Materials have been filed. |
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