BioAmber Delays Filing of Annual Report on Form 10-K and Postpones Earnings Release and Conference Call for Fourth Quarter and Full Year 2017
Mar 15, 2018
MONTREAL, March 15, 2018 /CNW Telbec/ - BioAmber Inc. (OTCPK: BIOA) (the "Company") announced that it has filed a Form 12b-25, Notification of Late Filing, with the Securities and Exchange Commission (the "SEC") regarding a delay in the filing of its Annual Report on Form 10-K for the fiscal year ended December 31, 2017 (the "Annual Report") because of the additional time that the Company's independent auditors require to complete their audit of the Company's financial statements for the fiscal year ended December 31, 2017. The Company intends to file its Annual Report within the fifteen-day extension period provided by Form 12b-25 and continues to work diligently to finalize its financial statements.
Given the ongoing audit of the Company's financial statements by the Company's independent auditors and its audit committee, the Company announced that it is postponing its fourth quarter and full year 2017 earnings release and conference call, previously scheduled for March 15, 2018 and March 16, 2018, respectively, until such audit is completed and the Company has filed its Annual Report.
BioAmber (OTCPK: BIOA) is a renewable materials company. Its innovative technology platform combines biotechnology and catalysis to convert renewable feedstock into building block materials that are used in a wide variety of everyday products including plastics, paints, textiles, food additives and personal care products. For more information visit www.bio-amber.com.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties about BioAmber, including but not limited to statements with respect to the timing of the filing of BioAmber's Annual Report on Form 10-K for the year ended December 31, 2017, BioAmber's intention to hold the earnings calls for the fiscal year and the quarter ended December 31, 2017. BioAmber may use words such as "anticipate," "believe," "could," "continue," "estimate," "expect," "intend," "may," "should," "will," "would," "plan," "projected" or the negative of such words or other similar words or phrases to identify such forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are risks relating to, among other things, whether or not BioAmber will be able to generate sufficient cash flows and obtain the additional financing necessary to continue as a going concern and to grow its business, develop its products and respond to competitive pressures, the impact of the termination of BioAmber's joint venture with Mitsui & Co. Ltd. on its ability to maintain and expand its operations at its Sarnia, Ontario facility, market and other conditions, BioAmber's business and financial condition, and the impact of general economic, industry or political conditions in the United States or internationally. For additional disclosure regarding these and other risks faced by BioAmber, see disclosures contained in BioAmber's public filings with the SEC, including the risks discussed under the heading "Item 1.A Risk Factors" in the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2016 and Quarterly Report on Form 10-Q for the quarter ended September 30, 2017, and under the heading "Risk Factors" of the recent prospectus supplement filed by the company. You should consider these factors in evaluating the forward-looking statements included in this press release and not place undue reliance on such statements. The forward-looking statements are made as of the date hereof, and BioAmber undertakes no obligation to update such statements as a result of new information.
SOURCE BioAmber Inc.
For further information: BioAmber Investor Contact: Roy McDowall, Sr. VP Business Development, 514-844-8000 Ext. 260, firstname.lastname@example.org