EXMceuticals Announces Application for Voluntary Management Cease Trade Order
24 10월 2020 - 7:24AM
EXMceuticals Inc. (CSE: EXM) (FSE: A2PAW2) (the “Company” or “EXM”)
announces that it has applied for a voluntary management cease
trade order in accordance with National Policy 12-203 due to it not
being able to file its annual financial statements and MD&A for
the year ended June 30, 2020 on SEDAR within 120 days of its
financial year-end.
The Company requires additional time to file its
annual financial statements and MD&A for the financial year
ended June 30, 2020 due to a delay in obtaining information from
foreign subsidiaries including ongoing delays due to Covid-19, and
additional time is required to complete the review and procedures.
As a result, the Company concluded that it would not be in a
position to complete the year-end audit within the time periods
required by National Instrument 51-102. The Company currently
anticipates that it will be in a position to file its annual
financial statements and MD&A for the year ended June 30, 2020
on or before December 28, 2020.
The Company intends to satisfy the provisions of
the alternative information guidelines of National Policy 12-203
until the revocation of the management cease trade order. The
Company is not subject to any insolvency proceedings.
ON BEHALF OF THE BOARD OF DIRECTORS OF
EXMCEUTICALS INC.
Jonathan Summers, Chairman and Chief Executive
OfficerFor further information, contact:Investor RelationsEmail:
investors@exmceuticals.com
Media Enquiries:Email:
media@exmceuticals.com
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CSE:
EXM| FSE:
A2PAW2
Neither the CSE nor the FSE has approved nor
disapproved of the contents of this news release. Neither the CSE
nor the FSE accepts responsibility for the adequacy or accuracy of
this release.
Certain information contained herein may
constitute "forward-looking information" under Canadian securities
legislation. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as, "will
be", "expected", "proposes", "intends" or variations of such words
and phrases or statements that certain actions, events or results
"will" occur. Forward-looking statements regarding the Company's
business operations, the extraction of cannabis ingredients and the
exportation of the extracts, the results of testing at our
facilities established for the European market, future laws and
regulations governing the sale of our products in Europe and
elsewhere, and the potential to generate sales, and completion of a
Qualifying Financing, are subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of EXM to be
materially different from those expressed or implied by such
forward-looking statements or forward-looking information. 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 forward-looking statements and
forward-looking information. EXM will not update any
forward-looking statements or forward-looking information that is
incorporated by reference herein, except as required by applicable
securities laws.
EXMceuticals (CSE:EXM)
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EXMceuticals (CSE:EXM)
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