Aimia Announces Deferral of Filing Second Quarter Financial Statements and Business Acquisition Report for Kognitiv Transaction

TORONTO, July 29, 2020 /CNW/ - Aimia Inc. (TSX: AIM) ("Aimia" or the "Company") announces that as a result of its continued focus on managing the business in response to the ongoing COVID-19 pandemic, as well as its ongoing efforts to realign its financial reporting following multiple transformative transactions in the quarter, the Company will delay the filing of its interim financial statements and related management discussion and analysis for the six month period ended June 30, 2020 (the "Quarterly Filings"). Originally due by August 14, 2020, the Company will rely on the blanket relief provided by the Canadian Securities Administrators (the "CSA"), which provides for up to a 45-day extension for periodic filings normally required to be made by reporting issuers on or before August 31, 2020, and will release the Quarterly Filings no later than September 28, 2020.

The Company will also be relying on the blanket relief provided by the CSA in respect of the filing of the Business Acquisition Report (the "BAR"), which would otherwise be due on September 1, 2020 and is now expected to be filed no later than October 16, 2020. The BAR relates to the merger of Aimia's Loyalty Solutions business with Kognitiv Corporation which closed on June 18, 2020.

Aimia advises that the management and other insiders of the Company are subject to a trading blackout policy that reflects the principles in Section 9 of National Policy 11-207 -Failure to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.

On May 13, 2020, the Company filed its interim financial statements and associated management's discussion and analysis for the three months ended March 31, 2020. The Company confirms that since the filing, there have been no material business developments other than disclosed by the Company by way of prior press releases, or as disclosed herein. Since May 13, 2020, the Company has issued the following press releases with respect to material business developments:

  • June 8, 2020Aimia Announces Normal Course Issuer Bid to Repurchase Up to 6.98 Million Shares. As of June 30, 2020, the Company repurchased $4.5 million of its shares under its NCIB, representing 1.56 million shares.
  • June 9, 2020Aimia Announces Sale of Recently Purchased Public Market Securities
  • June 18, 2020Aimia Prevails Over Air Canada on Injunction Application Transaction With Kognitiv Now Closed
  • June 19, 2020Aimia Closes Acquisition of Mittleman Brothers, LLC
  • June 19, 2020Aimia Announces Executive Appointment
  • June 29, 2020Aimia Strengthens and Extends Relationship with Aeromexico
  • June 30, 2020Aimia Establishes Automatic Share Purchase Plan

Copies of the press releases listed above are available on the Company's SEDAR profile at www.sedar.com.

About Aimia

Aimia Inc. (TSX: AIM) is an investment holding company with a focus on long-term investments in public and private companies, on a global basis, through controlling or minority stakes.

The company operates an investment advisory business through its wholly-owned subsidiary Mittleman Brothers Inc., and owns a diversified portfolio of valuable investments including a 48.9% equity stake in PLM Premier, S.A.P.I. de C.V. (PLM), owner and operator of Club Premier, the leading coalition program in Mexico, a 49% equity stake in Kognitiv, a transformative leader in loyalty, a 20% equity stake in travel technology company BIGLIFE, the operator of BIG Loyalty, one of the largest loyalty programs across Asia, as well as a 10.9% stake in Clear Media Limited, one of the largest outdoor advertising firms in China.

For more information about Aimia, visit corp.aimia.com.

Forward-Looking Statements

This press release contains statements that constitute "forward-looking information" within the meaning of Canadian securities laws ("forward-looking statements"), which are based upon our current expectations, estimated, projections, assumptions and beliefs. All information that is not clearly historical in nature may constitute forward-looking statements. In some cases, forward-looking statements are typically identified by the use of terms such as "outlook", "guidance", "target", "forecast", "assumption" and other similar expressions or future or conditional terms such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "predict", "project", "will", "would", and "should".  Forward-looking statements in this press release include, but are not limited to, statements with respect to Aimia's intention to release the Quarterly Filings no later than September 28, 2020 and to file the BAR no later than October 16, 2020.

Forward-looking statements, by their nature, are based on assumptions and are subject to known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the forward-looking statement will not occur. The forward-looking statements in this press release speak only as of the date hereof and reflect several material factors, expectations and assumptions.

Undue reliance should not be placed on any predictions or forward-looking statements as these may be affected by, among other things, changing external events and general uncertainties of the business. A discussion of the material risks applicable to us can be found in our current Management and Discussion and Analysis and Annual Information Form, each of which have been or will be filed on SEDAR and can be accessed at www.sedar.com. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and we disclaim any intention and assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

SOURCE Aimia Inc.

For further information: Media, analysts and Investors: Tom Tran, Director, Investor Relations, (647) 329-5128, tom.tran@aimia.com