- CBD Global delays (CBDN) filing of annual financial statements, MD&A and application for a management cease trade order
- CBD Global anticipates the annual filings will be delayed beyond the required filing deadline
- It intends to continue to work diligently and expeditiously with its auditors and expects to file the annual filings as soon as possible
- CBD Global Sciences Inc. is a vertically integrated hemp-based CBD producer, extractor, and branding investment vehicle
- CBD Global Sciences Inc. (CBDN) is up 2.70 per cent and is trading at C$0.36 at 12:18 pm ET
CBD Global has provided an update on the filing of its annual financial statements, MD&A and related CEO and CFO certifications for the year ended December 31, 2020.
Due to the continued impact of COVID-19 and the logistical complications for its auditor to conduct the audit of certain operations, CBD Global anticipates the annual filings will be delayed beyond the required filing deadline.
CBD Global intends to continue to work diligently and expeditiously with its auditors and expects to file the annual filings as soon as possible and in any event no later than June 15, 2021.
Other than as previously disclosed by CBD Global and herein with this press release, CBD Global confirms that there have been no material business developments since its last financial statements filed.
In light of the delay in filing the annual filings before the filing deadline, CBD Global provides this default announcement under National Policy 12-203 Management Cease Trade Orders.
CBD Global has made an application to the Alberta Securities Commission, as the principal regulator of CBD Global, for a management cease trade order under NP 12-203 regarding the anticipated default regarding the Annual Filings.
The granting of the MCTO is at the discretion of the Alberta Securities Commission, and there is no guarantee that this will be granted.
The issuance of the MCTO will not affect the ability of persons who have not been directors, officers, or insiders of CBD Global to trade in their securities.
If the MCTO is granted, it will be in effect until the default is remedied. CBD Global intends to follow the provisions of the Alternative Information Guidelines set out in NP 12-203, including the issuance of bi-weekly default status reports in the form of news releases, for as long as CBD Global remains in default.
CBD Global Sciences Inc. is a vertically integrated hemp-based CBD producer, extractor, and branding investment vehicle that currently owns two product categories, branded under AETHICS and CANNAOIL.
CBD Global Sciences Inc. (CBDN) is up 2.70 per cent and is trading at C$0.36 at 12:18 pm ET.
