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Veritas Group Limited., Announces Extension of closing date for the Private Placement Offering.

30 October 2020

HAMILTON, Bermuda, October 30, 2020: - Veritas Group Limited., (“Veritas” or the “Company”) (BSX:VERI.BH) announces the extension of the closing date in respect of the listing application for up to an additional 4,000,000 common shares by way of Private Placement at US$10.00 per share to December 31, 2020.

 

The Company was granted approval on January 9, 2020 by the listing committee of the Bermuda Stock Exchange (“BSX”) for listing of 4,000,000 common shares subject of a private placement offering at a value of US$10.00 per share.

 

Due to the current events facing the world economy and the market unrest, the directors of the Company have requested the BSX for additional time to December 31, 2020 for it to complete the Private Placement offering. The BSX has accepted the Company’s request for the extension. 

 

ABOUT VERITAS GROUP

 

Veritas is an exempted company limited by shares and listed on the BSX. The Company was incorporated with the objective of identifying and evaluating opportunities for the acquisition of interests in assets or businesses with a view to providing strategic planning, restructuring and development. The Company through its wholly owned subsidiary and strategic partners are gearing up for exponential growth by marketing its pump business in the US markets and from manufacture and installation of the Rapid Cellulose Bio-Refinery (RaCBio) containerized units in Southern Africa. These units convert bio-waste into green energy using advanced technology.

 

 

 

FORWARD-LOOKING STATEMENTS

 

Some of the statements in this press release may include, and the Company may make related oral forward-looking statements which reflect our current views with respect to future financial performance. Statements that include the words "should," "would," "expect," "estimates", "intend," "plan," "believe," "project," "target," "anticipate," "seek," "will," "deliver," and similar statements of a future or forward-looking nature identify forward-looking statements in this press release for purposes of the Bermuda or other securities regulatory authority.

 

All forward-looking statements address matters that involve risks and uncertainties. Accordingly, there are or may be important factors that could cause the Company’s run-off performance and the timing and amount of special dividends to differ materially from those indicated in the forward-looking statements. These factors include, but are not limited to, greater frequency or severity of claims and loss activity, changes to our tax status, credit risk related to our broker counterparties, assessments for high risk or otherwise uninsured individuals, possible terrorism or the outbreak of war, a loss of key personnel, political conditions, changes in insurance regulation, operational risk, including the risk of fraud and errors and omissions, as well as technology breaches or failure, changes in accounting policies, our investment performance, the valuation of our invested assets, a breach of our investment guidelines, our dependence as a holding company upon dividends or distributions from our operating subsidiaries, the unavailability of capital in the future, developments in the world’s financial and capital markets, government intervention in the insurance and reinsurance industry, illiquidity in the credit markets, changes in general economic conditions and other factors described in our Annual Report.

 

The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included herein and elsewhere. Any forward-looking statements made in this material are qualified by these cautionary statements, and there can be no assurance that the actual special dividends, results or developments anticipated by the Company will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company or its business or operations. Except as required by law, the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

 

 

 

FOR ADDITIONAL INFORMATION CONTACT:

 

 

Veritas Group Limited.,

 

Belvedere Building, Ground Floor,

69 Pitts Bay Road Pembroke HM 08, Bermuda

+(888) 828-8011/ ( 647)559-9650 (Mobile) 
Ottoh@veritasgroupltd.com

 

http://veritasgroupltd.com

 

 

 

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For more information on the Bermuda Stock Exchange (BSX), contact Nancy Vieira at 1-441-292-7212 or nvieira@bsx.com . Information is also available at www.bsx.com and on Bloomberg at BSX . Established in 1971 the Bermuda Stock Exchange (BSX) is the leading fully electronic offshore securities market. The BSX specializes in listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants and Insurance Linked Securities. The BSX is a full member of the World Federation of Exchanges (WFE) and is in an O.E.C.D. member nation and an affiliate member of IOSCO. The BSX is recognised by the US SEC as a Designated Offshore Securities Market. In addition, the BSX is recognized by the U.S. Securities & Exchange Commission (SEC) as a Designated Offshore Securities Market under Regulation S; The Financial Services Authority in the UK as a Designated Investment Exchange; HM Revenue & Customs in the UK as a Recognized Stock Exchange; The Bermuda Monetary Authority as a Recognised Investment Exchange; and as an Approved Stock Exchange under Australia’s Foreign Investment Funds (FIF) taxation rules; and Designated Exchange status under Canada’s Income Tax Act and is a member of America’s Central Securities Depository Association.

 

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