ISOLF - Isodiol International Inc. Provides Bi-Weekly Status Report
(TheNewswire)
September 29, 2020 - TheNewswire - Vancouver, BC - Isodiol International Inc. ( CSE : ISOL ) (CNSX:ISOL.CN) (OTC : ISOLF ) (FSE: LB6B.F ) (the "Company" or "Isodiol") provides this bi-weekly default status report in accordancewith National Policy 12-203, Management Cease Trade Orders (" NP 12-203 ").
On July 30, 2020, the Company advised it would beunable to file its audited annual financial statements for the yearended March 31, 2020 (the " Annual Financial Statements "), and itsinterim financial statements for the three months ended June 30, 2020(the " Interim FinancialStatements "), by the prescribed deadlinesof July 29, 2020, and August 31, 2020, respectively, due to impactsarising from the COVID-19 pandemic. Therefore, the Company had reliedon the coordinated relief provided by the Canadian SecuritiesAdministrators consisting of a 45-day extension for certain periodicfilings required to be made between June 2, 2020 and August 31,2020.
As the Company was not able to file the AnnualFinancial Statements by the extended deadline of September 14, 2020,it applied for and was granted a temporary management cease tradeorder (the " MCTO ") by the British Columbia SecuritiesCommission (the " BCSC ") as announced on September 15,2020. The MCTO prohibits specified insiders of the Company fromtrading in the securities of the Company while the MCTO remains inforce.
Pursuant to NP 12-203, the Company must file bi-weeklydefault status reports in the form of further news releases during theperiod of the MCTO. The Company reports that since its news release of September 15,2020 , there have been no material changesregarding the information contained in that news release. The Companyconfirms there have been no failures by the Company in fulfilling itsstated intentions with respect to satisfying the provisions of thealternative information guidelines under NP 12-203, and, other thanthe disclosure set forth above relating to the late filing of theAnnual Financial Statements and Interim Financial Statements, therehas not been, nor is there anticipated to be, any specified defaultsubsequent to the default announced in the Company's news release of September 15,2020 . The Company also confirms thatthere is no other material information concerning the affairs of theCompany that has not been generally disclosed as of the date of thisnews release.
Sincerely,
Andrew S. Alvis Marcos Agramont
President, Interim Chief Financial Officer Chief Executive Officer and Director
and Director Isodiol International Inc.
Isodiol International Inc.
About Isodiol InternationalInc.
Isodiol International Inc. isfocused on the nutritional health benefits that are derived from hempand is a product development, sales, marketing and distributioncompany of hemp-based Consumer Packaged Goods (CPG) and solutions.Isodiol has commercialized a 99%+ pure, naturally isolated CBD,including micro-encapsulations, and nano-technology for qualityconsumable and topical skin care products. Isodiol's growth strategyincludes the development of over-the-counter and pharmaceutical drugsand continued international expansion into Latin America, Asia, andEurope.
ON BEHALF OF THE BOARD
ANDREW S. ALVIS
PRESIDENT, INTERIM CHIEF FINANCIAL OFFICER &DIRECTOR
INVESTOR RELATIONS:
604-409-4409
MEDIA CONTACT:
Forward-LookingInformation: This newsrelease may contain certainforward-looking information and statements. All statements includedherein, other than statements of historical fact, are forward-lookinginformation and such information involves various risks anduncertainties. There can be no assurance that such information willprove to be accurate, and actual results and future events coulddiffer materially from those anticipated in such information. Adescription of assumptions used to develop such forward-lookinginformation and a description of risk factors that may cause actualresults to differ materially from forward-looking information can befound in the Company's disclosure documents on the SEDAR website at www.sedar.com . The Company does not undertake to updateany forward-looking information except in accordance with applicablesecurities laws.
The CSE has not reviewed, approvedor disapproved the content of this news release
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