Cannabis
Indigenous Bloom Hemp Corp. Provides Update on Status of MCTO
Vancouver, British Columbia–(Newsfile Corp. – October 14, 2022) – Indigenous Bloom Hemp Corp. (CSE: IBH) (the “Company” or “Indigenous Bloom”) provides a default status report in accordance with the alternative information guidelines set out in National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”).
On September 29, 2022, the Company announced that it applied for a management cease trade order (“MCTO”) with the applicable securities regulatory authorities in Canada on the basis that the Company would be unable to file its audited annual financial statements for its financial year ended May 31, 2022 and the related Management’s Discussion and Analysis and Certifications by the Chief Executive Officer and Chief Financial Officer (collectively, the “Required Filings”) by the applicable filing deadlines (the “Original Announcement”) due to an unexpected change in auditors.
The MCTO was issued on September 29, 2022, and prohibits trading in securities of the Company, whether direct or indirect, by the Company’s Chief Executive Officer and Chief Financial Officer. The issuance of the MCTO generally does not affect the ability of persons who have not been directors, officers or insiders of the Company to trade in their securities.
The Company’s management continues to work diligently to facilitate the completion by the auditor of its audit of Indigenous Bloom so that the Company can complete the Required Filings as soon as possible. Management now anticipates, but cannot assure, that the Required Filings will be filed by October 31, 2022
Other than as set out herein, the Company confirms that (a) there have been no changes to the information contained in the Original Announcement that would reasonably be expected to be material to an investor, (b) there has been no failure by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines under NP 12-203, (c) there has not been any other specific default by the Company under NP 12-203, and (d) there is no other material information concerning the affairs of the Company that has not been generally disclosed.
The Company confirms it will continue to satisfy the provisions of the alternative information guidelines set out in NP 12-203 so long as it remains in default of the requirement to file the Required Filings.
The CSE has not reviewed, nor approved or disapproved the content of this press release.
FOR MORE INFORMATION PLEASE CONTACT:
Sam Eskandari
Investor Relations
416-918-6785
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/140594
Cannabis
North America Legal Cannabis Industry Report 2024: Market to Grow at a CAGR of 26.65% During 2023-2032, Bank Loans Boosting Business Growth
Cannabis
Global Legal Marijuana Strategic Business Report 2024: A $125+ Billion Market by 2030 Featuring Aphria, Aurora Cannabis, Beacon Medical, Canopy Growth, Cronos, OrganiGram, Tikun Olam, Tilray, Wayland
Cannabis
Avicanna Announces Results of Study in Patients with Epidermolysis Bullosa
-
Cannabis2 weeks ago
Technological Advancements in Breathalyzers Drive Market Growth and Enhance Road Safety
-
Humboldt2 weeks ago
Humboldt Seed Company partners with Apollo Green to bring California cannabis genetics to the global marketplace
-
Cannabis2 weeks ago
Bay Area Social Equity Operator Launches the Purple Raina Balm Wand 1:1, an Inclusive Multipurpose Cannabis Topical
-
Cannabis2 weeks ago
Sannabis, Inc. (OTC: USPS) Announces First Shipment of Cannabis Essential Oil from Colombia to U.S. to Fill First Order, as the DEA Re-Classifies Marijuana from Schedule I to Schedule III
-
Cannabis7 days ago
IM Cannabis Reports First Quarter Financial Results
-
Cannabis6 days ago
Mikra Announces Partnership with Virun NutraBiosciences Inc. and Releases CELLF 2.0
-
Innocan5 days ago
Innocan Pharma Reports Breakthrough in a Pre-Clinical Trial: Liposomal-CBD Injection Restores Mobility to an Amputee Female Donkey
-
Cannabis2 days ago
Avicanna Announces Results of Study in Patients with Epidermolysis Bullosa