The Ontario Securities Commission granted Trillium Therapeutics Inc. an exemption from the requirement to file its restated interim financial reports by the prescribed deadline under subsection 4.3(4) of National Instrument 51-102 Continuous Disclosure Obligations (NI 51-102). The exemption was granted due to unanticipated delays caused by the remote working environment, personnel changes, and the impact of the COVID-19 pandemic on business operations. The company must now file the restated interim financial reports and related Management’s Discussion and Analysis (MD&A) within 45 days of filing its annual financial statements or by May 17, 2021, whichever is earlier.
The conditions for the exemption include the filing of the required documents within the new deadline, issuing a news release disclosing reliance on the exemption, and refraining from filing a prospectus for securities offerings until the restated documents are filed. The decision is based on the company’s transition to U.S. GAAP reporting requirements as a U.S. domestic registrant, effective January 1, 2021, and the company’s status as a reporting issuer in multiple Canadian provinces. The company is not in default of any Canadian securities legislation.