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Press Releases and Material Change Reports

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---
title: "Press Releases and Material Change Reports"
slug: press-releases
category: reports
last_edited: 2026-06-29
editor: woodfine-editorial
status: stable
short_description: "Real-time disclosure channel for material changes: immediate press release, Form 51-102F3 filing on SEDAR+ within ten days, and forward-looking statement standards."
references:
  - id: 1
    text: "National Instrument 51-102 Continuous Disclosure Obligations, Part 7 — Material Change Reporting. Canadian Securities Administrators."
    url: "https://www.osc.ca/en/securities-law/instruments-rules-policies/5/51-102"
---

**Press releases and material change reports** constitute the real-time disclosure channel
through which Woodfine Capital Projects Inc. communicates developments that constitute
[[about-material-change-reporting|material changes]] under Canadian securities law. A material change is any change in the
business, operations, or capital of the company that an investor would reasonably expect to
have a significant effect on the market price or value of the company's securities.[^1]

## Material change disclosure protocol

When a material change occurs, [[about-disclosure-obligations|NI 51-102]] requires a two-step disclosure sequence:

**Step 1 — Press release:** A press release must be issued immediately upon the decision to
implement the change, and in any event before the opening of trading on the next trading day.
The press release must disclose the nature and substance of the material change. If the
information cannot be disclosed without unreasonable prejudice to the company, a request for a
temporary exemption may be filed; however, the bar for such exemptions is high and the company
must disclose the existence of undisclosed material information.

**Step 2 — Material change report:** A formal material change report on Form 51-102F3 must be
filed on [[about-filing-systems|SEDAR+]] within ten calendar days of the date on which the change occurs. The report
includes the nature and substance of the change, any material assumptions underlying any
forward-looking statements in the report, and disclosure of any exemption claimed. The report
is signed by a senior officer of the company.

## Scope of material changes

Not every significant development constitutes a material change under NI 51-102. The test is
whether the change would reasonably be expected to have a significant effect on the market
price or value of a [[regulated-reporting-entity|reporting issuer]]'s securities. Developments typically assessed for
materiality include changes in corporate strategy, significant acquisitions or dispositions,
new debt or equity financings, changes in senior management, significant litigation, and
material changes to the company's business plan or financial condition.

Earnings releases and forward-looking guidance updates are assessed individually for
materiality. A significant deviation from previously disclosed guidance may constitute a
material change requiring immediate disclosure. Routine quarterly results that fall within
expected ranges typically do not.

## Forward-looking statements

All press releases that contain forward-looking information include a forward-looking statement
disclaimer identifying the material assumptions underlying the statements and the known risk
factors that could cause actual results to differ materially from those projected. In
accordance with the company's continuous disclosure posture, forward-looking statements are
clearly distinguished from statements of current fact.

## Press releases and material change reports

| Date | Headline | Type | SEDAR+ |
|---|---|---|---|
| *(releases to be added as issued)* | | | |

## See also

- [[about-financial-reporting]] — periodic financial statements and MD&A
- [[governance-documents]] — corporate governance documentation
- [[events-presentations]] — shareholder meetings and investor presentations
Important Information

Important Information

Securities offering. Woodfine Capital Projects Inc. ("Woodfine") sponsors real-property direct-hold solutions. Interests in those solutions are offered only to investors who qualify under an applicable prospectus exemption — including the accredited-investor exemption under National Instrument 45-106 — Prospectus Exemptions, and equivalent exemptions in other applicable jurisdictions. Content on this wiki is provided for general informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security. Any offering is made exclusively by means of the applicable Private Placement Memorandum, which prospective investors should review, together with their own professional advisors, before investing.

Scope. This wiki describes Woodfine's research methodology, geographic data platform, and related activities at a high level and is qualified in its entirety by the applicable Private Placement Memorandum and the governing documents of the relevant issuer.

Risk. Investment in real-property direct-hold solutions involves significant risk, including possible loss of capital. Past performance is not indicative of future results. References to structural features such as advisory fees, transferability, and net asset value methodology describe the contractual terms of the direct-hold solutions and are not representations as to investment outcomes or returns.

Forward-looking statements. Statements that are not historical facts may constitute forward-looking information within the meaning of applicable Canadian securities laws. Such statements are subject to known and unknown risks, uncertainties and assumptions, and actual results may differ materially. Woodfine undertakes no obligation to update such statements except as required by law.

Registration. Registrable activities of Woodfine and its affiliates are conducted, where required, under the applicable registration categories prescribed by the British Columbia Securities Commission and other Canadian securities regulators. Specific registration details are available on request.

Jurisdiction. Woodfine Capital Projects Inc. is organized in British Columbia, Canada. References to the Sovereign Data Foundation on this wiki describe a planned or intended initiative only, not a current equity holder or active governance body.

Trademarks. See TRADEMARK.md in this repository for the full trademark notice.

Changes to this notice. Woodfine may update this notice from time to time; the version posted on this page governs.

Not a filing system. This wiki is not a securities filing system, an electronic disclosure repository, or a substitute for SEDAR+ or any other regulatory filing system. Formal securities filings are made through the applicable regulatory filing system, not through this wiki.

Full disclaimer. This notice supplements, and does not replace, the full Disclaimers article. In the event of any conflict, the full Disclaimers article governs.

Read the full disclaimer →