TVI is continuing to pursue opportunities that have added significantly
to the work required to audit year-end financial results.
Plans to list
on the Hong Kong Exchange require that TVI provide 3 year comparative
financial statements according to IFRS, which required TVI to move from
Canadian GAAP in advance of the required January 1, 2011 change for
Canada.
For TVI, this meant that IFRS statements had to be prepared and
audited for the past three years (2008, 2009 and 2010), not just this
year like other Canadian public companies.
This process was extensive
but is near completion.
Further time has been added as a result of the
TG World Plan of Arrangement announced December 23, 2010 and the need to
evaluate the transaction for financial reporting purposes both at
year-end and subsequent to year-end.
As a result, the release date of
year-end financial results has been revised from March 15th to March
18th.
Please feel free to call with any questions.
Rhonda Bennetto
Exec.
Dir Investor Communications
403.265.4356
Ian McColl
Investor Relations Analyst
403.265.4356
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