SBBC Simply Better Brands Corp

VANCOUVER, BC, May 2, 2023 /CNW/ - Simply Better Brands Corp. ("SBBC" or the "Company") (TSXV: SBBC) (OTCQB: PKANF) announces today that it will be delayed in filings its annual financial statements, accompanying management's discussion and analysis and related CEO and CFO certifications (collectively, the "Annual Consolidated Financial Statements") for the financial year ended December 31, 2022, within the period prescribed for the filing of such documents under Parts 4 and 5 of National Instrument 51-102 and pursuant to National Instrument 52-109, namely within 120 days of year-end.

The Company is continuing to work diligently and expeditiously with its auditors to file the 2022 Annual Consolidated Financial Statements and expects to file on or before May 3, 2023 and will issue a news release once the Annual Consolidated Financial Statements have been filed. The Company is unaware of any material unresolved audit issues and has made all efforts and allocated all available resources to the preparation, completion and filing of the Annual Consolidated Financial Statements. The Company's auditors have also made significant efforts to complete its audit of the annual financial statements. However, the delay is ‎resource related and more time is required to complete the comprehensive audit process.

SBBC confirms that there are no insolvency proceedings against it and there is no other material information concerning the affairs of the Company that has not been generally disclosed as of the date of this news release. The Company confirms that since the filing of its interim consolidated financial statements for the period ended September 30, 2022 that there have been no reportable events as defined in the National Instrument 51-102 and, in its opinion, there are no reportable events pending.

Further to the Company's news release dated April 26, 2023, the Company announces that its conference call has been postponed and the Company expects to reschedule for May 4, 2023, at 10:00 am EST once the Annual Consolidated Financial Statements have been filed.

Simply Better Brands Corp. leads an international omni-channel platform with diversified assets in the emerging plant-based and holistic wellness consumer product categories. The Company's mission is focused on leading innovation for the informed Millennial and Generation Z generations in the rapidly growing plant-based, natural, and clean ingredient space. The Company continues to focus on expansion into high-growth consumer product categories including plant-based food, clean ingredient skincare and plant-based wellness.. For more information on Simply Better Brands Corp., please visit: https://www.simplybetterbrands.com/investor-relations.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain statements contained in this news release constitute "forward-looking information" and "forward looking statements" as such terms are used in applicable Canadian securities laws. Forward-looking statements and information are based on plans, expectations and estimates of management at the date the information is provided and are subject to certain factors and assumptions, including, among others, that the Company's financial condition and development plans do not change as a result of unforeseen events, the impact of the COVID-19 pandemic, the regulatory climate in which the Company operates, and the Company's ability to execute on its business plans. Specifically, this news release contains forward-looking statements relating to, but not limited to: the filing of the Annual Consolidated Financial Statements, including the timing for the filing of the Annual Consolidated Financial Statements and earnings call. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information.

Forward-looking statements and information are subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking statements and information. Factors that could cause the forward-looking statements and information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company's financial condition and development plans change, ability to obtain necessary regulatory approvals for proposed transactions, as well as the other risks and uncertainties applicable to the plant-based food, clean ingredient skincare and plant-based wellness or broader wellness industries and to the Company, and as set forth in the Company's annual information form available under the Company's profile at www.sedar.com.

The above summary of assumptions and risks related to forward-looking statements in this news release has been provided in order to provide shareholders and potential investors with a more complete perspective on the Company's current and future operations and such information may not be appropriate for other purposes. There is no representation by the Company that actual results achieved will be the same in whole or in part as those referenced in the forward-looking statements and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.

SOURCE Simply Better Brands Corp