Namaste Technologies Inc. (“Namaste” or the “Company“) (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) is providing this third bi-weekly default status report in accordance with National Policy 12-203 – Cease Trade Orders for Continuous Disclosure Defaults (“NP 12-203“). In its initial default announcement of April 2, 2019 (the “Default Notice“), the Company announced the delay in the filing of its audited annual financial statements for the fiscal year ended November 30, 2018 (the “2018 Annual Financial Statements“), the accompanying management’s discussion and analysis and the related CEO and CFO certifications (collectively, the “Annual Filings“) by the filing deadline of April 1, 2019. The Company subsequently provided bi-weekly default status reports on April 15, 2019 and April 30, 2019.
As previously announced, the Company applied for and was granted management cease trade orders in respect of the delayed Annual Filings (the “MCTO“) by the British Columbia Securities Commission and the Ontario Securities Commission which prohibit the chief financial officer and the interim chief executive officer from trading in the Company’s securities for so long as there are filings that are outstanding under applicable securities laws. The MCTO does not affect the ability of the general investing public to trade in the Company’s listed common shares.
The audit of the 2018 Annual Financial Statements is well underway and the Company currently continues to expect to file the Annual Filings by the end of May 2019. In addition, the Company continues to anticipate that its interim financial statements for the three month period ended February 28, 2019, the accompanying management’s discussion and analysis and the related CEO and CFO certifications will not be filed by the filing deadline, and will be filed after the Annual Filings are completed and filed.
The Company confirms that since the Default Notice: (i) there is no material change to the information set out in the Default Notice that has not been generally disclosed; (ii) there has been no failure by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203; (iii) there has not been any other specified default by the Company under NP 12-203; and (iv) since the Company’s bi-weekly default status report dated April 30, 2019, there is no other material information concerning the affairs of the Company that has not been generally disclosed.
The Company will continue to comply with the provisions of the alternative information guidelines under NP 12-203 by issuing bi-weekly default status reports in the form of news releases for so long as it remains in default of the filing requirements set out above.
SOURCE Namaste Technologies Inc.
Phivida Announces the Launch of Wikala’s Private Beta for Its eCommerce Platform
Phivida Holdings Inc. (CSE: VIDA OTCQX: PHVAF) (“Phivida” or the “Company”) announces the private beta launch of the Wikala eCommerce platform, featuring cannabis accessories from reputable manufacturers.
“The interest in the private beta release has been phenomenal so far and we look forward to working closely with our customers and creating the most trusted cannabis online marketplace in this industry,” says David Moon, CEO of Wikala. “We’ve been working at maximum pace to get to this stage, and it’s encouraging to think that this is only the beginning of where Wikala and Phivida can go.”
Wikala is a stand-alone eCommerce platform that is set to become the first website in the global cannabis and hemp-CBD space to offer independent sellers’ personal storefronts where they can list their goods within an existing marketplace. The private beta signup is still open and the platform will be available for use for a select number of beta users, based on their geography, for the next 55 days. During that time, the Wikala team will monitor user feedback and prepare the software for the next release.
The core features included in the private beta release are a fraction of the company’s ultimate vision, however, they are a necessary first step and include all of the basic features of an eCommerce website, including a product comparison tool that is yet to be seen in the cannabis market.
“The potential of Wikala is in its modularity and the fact that we can develop new creative features quickly and without having to rely on third party software,” continued Mr. Moon. “This allows us to use the Open Beta release to set the stage for the next milestone, which is to open the sellers’ portal and allow individual businesses to open their stores on Wikala.”
Wikala’s next milestone is the public release of the platform, expected on July 15, 2019, which will feature a refurbished design for mobile devices, a coupon system for discounts, advanced smart search and various additional functionalities that provide a glitch-free user experience from shopping to product delivery. The July 15 public launch is expected to be the platform’s Open Beta.
SOURCE Phivida Holdings Inc.
True Drinks Holdings, Inc. Appoints Adam Mirkovich as Chief Information Officer
True Drinks Holdings, Inc. (the “Company” or “True Drinks”) (OTC PINK: TRUU) announced today the appointment of Adam Mirkovich as the Chief Information Officer of the Company and Charlies Chalk Dust LLC, a wholly owned subsidiary of the Company. In his new role, Adam will oversee data, process, and analytics management across the Company’s entire supply chain and report directly to the Company’s Chief Operating Officer, Ryan Stump. Adam will also oversee new product development and commercialization for the Company’s diverse line of products. Adam has shown significant operations expertise in the nicotine vape and beverage spaces throughout his career in a multitude of roles.
“Adam brings a whole new element to the True Drinks and Charlie’s Chalk Dust operations,” said Ryan Stump, Chief Operating Officer of True Drinks and Charlie’s Chalk Dust. “His expertise and ability to build teams will create a more streamlined approach to our upcoming projects. We believe that Adam will ultimately help scale the business as we continue to expand our current operations and explore new opportunities.”
Before joining the Company, Adam served as the COO for a multi-state premium cannabis vape brand, Orchid Ventures. Adam also served as an independent management consultant specializing in building and optimizing value chains for startups and growth stage companies in the beverage, nicotine vape, and nutritional supplements industries. Adam was also the Product Lifecycle Management (“PLM“) Program Manager for Niagara Bottling, where he led the product revision, introduction, and discontinuance practices for customers’ private labeled water, flavored, and carbonated beverages. Prior to his role in PLM, Adam was a member of the Supply Chain Logistics team at Niagara Bottling, providing strategic support of company expansion activities and tactical support of purchasing, production planning, and multi-region logistics in North American operations.
“I have had the privilege to watch the Charlie’s Chalk Dust team develop and position themselves as leaders in the premium e-liquid space over the past three years. I admire Brandon and Ryan’s dedication to their employees, customers, and products. I am excited to join the True Drinks and Charlie’s Chalk Dust family for this next stage of growth,” said Adam.
SOURCE True Drinks Holdings, Inc.
Flower One Upgraded to the OTCQX Best Market in the U.S.
Flower One Holdings Inc. (the “Company“) (CSE: FONE) (OTCQX: FLOOF), a leading cannabis cultivator, producer and innovator in Nevada, is pleased to announce that its common shares are now trading on the OTCQX® Best Market under the symbol “FLOOF”, having graduated from the OTCQB® Venture Market.
U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com. Flower One’s common shares continue to trade on its primary exchange, the Canadian Securities Exchange, under the symbol “FONE”.
“Graduating to the OTCQX Market is yet another milestone achieved as we continue to execute our focused growth plan in Nevada,” said Ken Villazor, President and CEO of Flower One. “Our continued success in executing our plan has led to increasing capital market interest in our unique business model, our corporate vision and our future in the U.S. cannabis market. We have witnessed increased U.S. trading volumes since we began trading on the OTCQB® Venture Market, so upgrading today to the OTCQX is a welcome progression offering our shareholders increased cross-border liquidity as well as further increasing our visibility and shareholder exposure in the United States.”
The OTCQX Best Market is OTC Markets Group’s premier market for established, investor-focused U.S. and international companies. To be eligible, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with relevant U.S. securities laws, be current in their disclosure, and have an introduction from a professional third-party sponsor.
“We are pleased to welcome Flower One Holdings to the OTCQX Best Market,” said Jason Paltrowitz, EVP of Corporate Services at OTC Markets Group. “Cross-trading on the OTCQX Market will provide Flower One, a constituent of the Canadian Securities Exchange’s CSE25 Index, with more efficient access to research and trading among U.S. investors.”
“The Canadian Securities Exchange congratulates Flower One on their graduation from the OTCQB Market to the OTCQX Market,” said Richard Carleton, CEO of the CSE. “Canadian issuers taking advantage of the opportunities afforded by the OTC Markets Group can see a reduction in their cost of capital through increased U.S. liquidity.”
SOURCE Flower One Holdings Inc.
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