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3 Sixty Risk Solutions Ltd. (SAFE.CN)

Canadian Sec - Canadian Sec Real Time Price. Currency in CAD
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0.05500.0000 (0.00%)
As of 3:01PM EDT. Market open.
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Previous Close0.0550
Open0.0000
Bid0.0000 x 0
Ask0.0450 x 0
Day's Range0.0550 - 0.0550
52 Week Range0.0300 - 0.1050
Volume0
Avg. Volume0
Market Cap8.491M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)-0.1360
Earnings DateApr. 28, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateMay 29, 2017
1y Target EstN/A
  • 3 Sixty – Business Update
    GlobeNewswire

    3 Sixty – Business Update

    ALMONTE, Ontario, Nov. 23, 2020 (GLOBE NEWSWIRE) -- 3 Sixty Risk Solutions Ltd. (“3 Sixty” or the “Company”) (CSE: SAFE) (OTCQB: SAYFF) (FSE: 62P2) is pleased to provide an update regarding its business and operations to company stakeholders. Changes to the Board of DirectorsDavid Beck has been appointed as Chairman of the Board of Directors. Committee Chairpersons have been established as follows: Audit Committee Chair, Nitin Kaushal, and Compensation Chair, Christian Grunt.Margarita Simkin has been appointed to the Board of Directors. Ms. Simkin is co-founder and Chairwoman of INKAS Group of Companies and has been instrumental in building INKAS into a global brand specializing in products and services that aid with civilian safety, environmental protection, financial aid, security, logistics, fabrication and manufacturing.Andrew Ellis has been appointed to the Board of Directors.  Mr. Ellis served as Assistant Director of Operations (ADO) of the Canadian Security Intelligence Service (CSIS) and was strategically responsible for the leadership of all national operational programs.Ariel Mashiyev has resigned as a Director of the Company for personal reasons. The Company thanks Mr. Mashiyev for his contribution to, and support of 3 Sixty Risk Solutions.Changes to ManagementThomas Gerstenecker has decided to step down as Chief Executive Officer (CEO) of the Company. Mr. Gerstenecker founded and built 3 Sixty Risk Solutions. His efforts are greatly appreciated. The Company thanks him for his contribution to, and support of 3 Sixty. In addition, Mr. Gerstenecker has resigned from the Board of Directors effective immediately.In addition to being a newly appointed Board Member, Andrew Ellis has been appointed interim CEO.In addition to being a newly appointed Board Member, Margarita Simkin has been appointed interim Chief Operating Officer (COO).Ernest Petrasovic has resigned as Chief Financial Officer (CFO). The Company thanks Mr. Petrasovic for his contribution to, and support of 3 Sixty. As Chair of the Audit Committee, Nitin Kaushal will provide oversight on the company’s financial operations as it seeks a replacement CFO.Update on FinancingThe Company announces that it has secured additional capital of $2.6 million through an asset-based lending facility (“ABL Facility”) with Pillar Capital Corp. (“Pillar”). The agreement will provide additional financial flexibility for the Company and is intended to support near term working capital. Pillar has been granted a General Security Agreement, including specific charges against owned and unencumbered equipment, registered in first position.Additionally, 3 Sixty has also secured up to $4 million through the outsourcing of receivables (the “Receivables Facility”) with Sallyport Commercial Finance LLC (“Sallyport”). The agreement will provide additional financial flexibility to the Company and is intended to help fund the Company’s growth capital, in particular, leasehold improvements for impending accretive contract requirements.  Under the terms of the Receivables Facility, the Company has agreed to a 12-month term to sell up to 90% of its accounts receivable to Sallyport.The financing transactions were completed in reliance upon an order of the Ontario Securities Commission granted a partial revocation of the cease trade order (the “CTO”) against the Company’s securities in order to permit all trades and acts in furtherance of trades in connection with such financings.Update on the Completion of 2019 Audit The Company continues to work expeditiously to file all outstanding continuous disclosure documentation as soon as possible in order to apply for a full revocation of the CTO. Further advancement has been made on the issues previously announced as it relates to assessing the accounting for the Company’s acquisition of Total Cannabis Security Solutions (TCSS) in January 2019, and includes assessing the potential impact on the recoverability of intangible assets and goodwill in the interim financial statements, as well as assessing the accounting for transactions, post-acquisition in the TCSS business, prior to finalizing and filing the financial results for the fourth quarter and fiscal year ended December 31, 2019.Any changes that result from this ongoing assessment of the TCSS transaction will be amended and restated in the interim financial statements and related Management Discussion and Analysis as applicable, prior to finalizing filing financial results for the fourth quarter and fiscal year ended 2019. Based on the above, further information will be provided regarding the date of the Annual General Meeting in the near future.About 3 Sixty Risk Solutions Ltd.3 Sixty Secure Corp, a wholly-owned subsidiary, is a multi-national security services company. 3|Sixty proudly offers customized security solutions to public and private sector clients across the globe. Services include: cash in transit; high value storage; protective services; secured transport; high risk training, personal protection, and security risk management consulting. 3 Sixty has a staff of over 600 employees and operates a fleet of over 120 vehicles, with seven secure facilities nationwide and a combined security footprint of approximately 35 million square feet of patrolled area across Canada.Further Information.For further information regarding the Company, please contact: Kelly Anne King Manager, Corporate Services 1 (866) 360-3360 IR@3sixtysecure.comForward-Looking InformationThis news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the business and operations of 3 Sixty. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, 3 Sixty assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

  • GlobeNewswire

    3 Sixty Provides Update on the Release of Fourth Quarter and Year Ended December 31, 2019 Financial Results and the Annual General Meeting

    ALMONTE, Ontario, Sept. 14, 2020 (GLOBE NEWSWIRE) -- 3 Sixty Risk Solutions Ltd. (“3 Sixty” or the “Company”) (CSE: SAFE) (OTCQB: SAYFF) (FSE: 62P2) announced today that the Company continues to work expeditiously to release the required filings as soon as possible. Significant advancement has been made on the issues previously announced as it relates to assessing the accounting for the Company’s acquisition of Total Cannabis Security Solutions (TCSS) in January 2019, and includes assessing the potential impact on the recoverability of intangible assets and goodwill in the interim financial statements, as well as assessing the accounting for transactions, post-acquisition in the TCSS business, prior to finalizing and filing the financial results for the fourth quarter and fiscal year ended December 31, 2019. Any changes that result from this ongoing assessment of the TCSS transaction will be amended and restated in the interim financial statements and related Management Discussion and Analysis as applicable, prior to finalizing filing financial results for the fourth quarter and fiscal year ended 2019. Based on the above and impending Annual General Meeting (AGM) scheduled for September 21, 2020, the Company has decided to postpone the AGM until the respective reporting requirements have been met. Further information will be provided regarding the date of the AGM in the near future.“I completely understand and appreciate our valued shareholders concerns as it relates to their inability to trade,” said Thomas Gerstenecker, Founder, Chairman, a.i., and CEO. “The obstacles presented by the TCSS transaction have to date prohibited the finalization of the audit. I can assure you, we are working non-stop on getting this audit completed, filed and back to trading. Our shareholders deserve it,” said Gerstenecker.About 3 Sixty Risk Solutions Ltd. 3 Sixty Secure Corp, a wholly-owned subsidiary, is a multi-national security services company. 3|Sixty proudly offers customized security solutions to public and private sector clients across the globe.  Services include: cash in transit; high value storage; protective services; secured transport; high risk training, personal protection, and security risk management consulting.3 Sixty has a staff of over 600 employees and operates a fleet of over 120 vehicles, with seven secure facilities nationwide and a combined security footprint of approximately 35 million square feet of patrolled area across Canada.Further Information For further information regarding the Company, please contact: Kelly Anne King Corporate Services 1 (866) 360-3360 IR@3sixtysecure.comForward-Looking InformationThis news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the business and operations of 3 Sixty. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, 3 Sixty assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

  • GlobeNewswire

    3 Sixty Postpones the Release of Fourth Quarter and Year Ended December 31, 2019 Financial Results

    ALMONTE, Ontario, Aug. 31, 2020 (GLOBE NEWSWIRE) -- 3 Sixty Risk Solutions Ltd. (“3 Sixty” or the “Company”) (CSE: SAFE) (OTCQB: SAYFF) (FSE: 62P2) announced today that the release of its financial results for the fourth quarter and fiscal year ended December 31, 2019 will be postponed. The Company is nearing completion of the necessary procedures to finalize the audit of the year-end financial statements in order to affect the necessary filings as previously indicated. 3 Sixty is assessing the accounting for the Company’s acquisition of Total Cannabis Security Solutions (TCSS) in January 2019 and includes assessing the potential impact on the recoverability of intangible assets and goodwill in the interim financial statements, as well as assessing the accounting for transactions, post-acquisition in the TCSS business, prior to finalizing and filing the financial results for the fourth quarter and fiscal year ended December 31, 2019. Any changes that result from this ongoing assessment of the TCSS transaction will be amended and restated in the interim financial statements and related Management Discussion and Analysis as applicable, prior to finalizing filing financial results for the fourth quarter and fiscal year ended 2019.“We have been putting all necessary resources to work on the outstanding matters pertaining to the TCSS related assessment,” said Founder, Chairman, a.i., and CEO Thomas Gerstenecker. “We appreciate the frustration of our valued shareholders as it relates to filing and will make sure this is completed with utmost speed and accuracy. The 3 Sixty team has been working diligently to get the filing completed and they have been doing amazing work to bring it through to fruition. We will provide shareholders with an update within the next 10 calendar days,” Gerstenecker said.“The delay in filing hasn’t negatively impacted the growth of the company. 3 Sixty continues to secure contract wins across the country and is currently finalizing two financing arrangements worth up to $6.75m via asset-based-lending for working and growth capital. An operational update will be provided within the next two weeks in this regard,” Gerstenecker said.The Company is actively working to finalize and file the outstanding continuous disclosure documentation and anticipates being able to file the amended and restated 2019 Interim Results, the audited annual financial statements and related management’s discussion and analysis for the fiscal year ended December 31, 2019, and the interim financial statements and related management’s discussion and analysis for the three-month period ended March 31, 2020. Once all outstanding continuous disclosure documents have been filed, the Company will seek to have the Cease Trade Order revoked and trading reinstated.A copy of the Cease Trade Order has been posted on the website of the Canadian Securities Administrators at cto-iov.csa-acvm.ca and will be posted on the Company’s website.About 3 Sixty Risk Solutions Ltd. 3 Sixty Secure Corp, a wholly-owned subsidiary, is a multi-national security services company. 3|Sixty proudly offers customized security solutions to public and private sector clients across the globe.  Services include: cash in transit; high value storage; protective services; secured transport; high risk training, personal protection, and security risk management consulting. 3 Sixty has a staff of over 600 employees and operates a fleet of over 120 vehicles, with seven secure facilities nationwide and a combined security footprint of approximately 35 million square feet of patrolled area across Canada.Further Information For further information regarding the Company, please contact: Kelly Anne King Corporate Services 1 (866) 360-3360 IR@3sixtysecure.comForward-Looking InformationThis news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the business and operations of 3 Sixty. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, 3 Sixty assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.