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Vancouver, British Columbia--(Newsfile Corp. - June 16, 2022) - Emerald Health Therapeutics, Inc. (CSE: EMH) (OTCQB: EMHTF) ("Emerald" or the "Company") is providing 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 April 28, 2022, the Company announced that it had applied for a management cease trade order (an "MCTO") with the British Columbia Securities Commission on the basis that the Company would be unable to file its annual financial statements and management discussion and analysis for the year ended December 31, 2021 (collectively, the "Annual Filings") by the applicable filing deadline (the "Original Announcement"). The MCTO was issued on May 3, 2022, and restricts all trading in securities of the Company, whether direct or indirect, by certain insiders of the Company.
The Company previously announced that it anticipated the Annual Filings would be completed by June 13, 2022. Despite the Company's best efforts, the Annual Filings have not been completed and the Company is now diligently working towards completing the Annual Filings by June 30, 2022. In accordance with the terms of the MCTO, the Company is also required to file its interim financial statements for the period ended March 31, 2022, no later than five business days after completion of the Annual Filings.
The Company confirms that since the date of the Original Announcement: (i) other than stated above with respect to the anticipated completion date of the Annual Filings, there has been no material change to the information set out in the Original Announcement; (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) there is no material information concerning the affairs of the Company that has not been generally disclosed.
The Company confirms that 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 Annual Filings.
Please visit www.emeraldhealth.ca for more information or contact:
Moe Jiwan, Chief Operating Officer
1(800) 757 3536 Ext. #5
Emerald Investor Relations
(800) 757 3536 Ext. #5
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements: Certain statements made in this press release that are not historical facts are forward-looking statements and are subject to important risks, uncertainties and assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statements. Such statements include the Company completing the Annual Filings by June 30, 2022.
We cannot guarantee that any forward-looking statement will materialize, and readers are cautioned not to place undue reliance on these forward-looking statements. Such statements are subject to the risks that the Company fails to complete the Annual Filings within the time period stated as well as the risk factors described in Emerald's annual information form and other regulatory filings. These statements are not historical facts but instead represent management beliefs regarding future events, many of which, by their nature are inherently uncertain and beyond management control.
The forward-looking statements contained in this press release represent our expectations as of the date hereof. Forward-looking statements are presented for the purpose of providing information about management's current expectations and plans and allowing investors and others to obtain a better understanding of our anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. Emerald undertakes no obligations to update or revise such statements to reflect new circumstances or unanticipated events as they occur unless required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/127982