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Last Mile Holdings Announces Further Update to its Second Quarter Financial Statements and MD&A Due to COVID-19 Related DelaysCHARLESTON, S.C and VANCOUVER, BC, Sept. 25, 2020 /CNW/ - Last Mile Holdings Ltd. (formerly OjO Electric Corp.) (the "Company" or "MILE") (TSXV: MILE) (OTC: AZNVF) announces that further to its news release dated August 28, 2020, the Company is expecting to file its second quarter financial statements and management's discussion and analysis for the period ended June 30, 2020 (the "Interim Filings") by the extension date of October 15, 2020 pursuant to exemptive relief granted by Canadian securities regulatory authorities that allows it to delay the filing of its annual documents required by sections 4.2 and 5.12(2) of National Instrument 51-102 ("NI 51-102"). In response to the coronavirus disease pandemic, securities regulatory authorities in Canada have granted a blanket exemption allowing issuers an additional 45 days to complete their regulatory filings. The Company is relying on blanket relief granted by Canadian securities regulatory authorities under BC Instrument 51-515 allowing issuers an additional 45 days to complete their regulatory filings required pursuant to sections 4.3 and 5.12(2) of National Instrument 51-102 by August 31, 2020. The Company is continuing to work diligently to file the Interim Filings at its earliest opportunity, which is expected to occur on or before October 15, 2020. Until such time as the Interim Filings are filed, the Company's management and insiders are subject to a trading blackout that reflects the principals contained in section 9 of National Policy 11-207 – Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions. Separately, the Company has amicably accepted the resignations of Jessica Van Den Akker and Alan Shapiro as members of the Board of Directors. The Company appreciates their leadership during the initial growth phase of the Company and wishes both of them well in their future pursuits. The Company will appoint new board members at the Annual General Meeting of Stockholders, which is tentatively scheduled for December 18, 2020. Additionally, pursuant to the Membership Interest Purchase Agreement for the acquisition of Gotcha Mobility, LLC ("Gotcha") dated January 10, 2020, the Company has issued the second tranche of shares to Gotcha Media Holdings LLC (the "Vendor"), bing 25,932,283 limited voting shares, at a deemed price of C$0.127 being the deemed price equal to the five day VWAP of the Company limited voting shares immediately prior to issuance. The shares issued are subject to a four-month hold period, expiring December 29, 2020. Other than as previously disclosed by the Company in news releases, including the information herein, there are no other material business developments since August 28, 2020, the date of the Company's news release announcing the delay in filing of the Interim Filings, copies of which are available on SEDAR at www.sedar.com. For more information on Last Mile Holdings, visit lastmile-holdings.com. About Last Mile Holdings Follow us on social: Cautionary Statement Regarding Forward-Looking Information Reader Advisory View original content to download multimedia:http://www.prnewswire.com/news-releases/last-mile-holdings-announces-further-update-to-its-second-quarter-financial-statements-and-mda-due-to-covid-19-related-delays-301138401.html SOURCE Last Mile Holdings Ltd. |