TOBAF - TAAT Provides Update on Status of Audited Financial Statements
(TheNewswire)
LAS VEGAS and VANCOUVER – TheNewswire - May 15, 2024 – TAAT®GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTC: TOBAF) (FRANKFURT: 2TP)(the “Company” or “TAAT®”) is providingthis update pursuant to the management cease trade order granted onFebruary 29, 2024 by the British Columbia Securities Commission(" BCSC ") under National Policy 12-203 – Management CeaseTrade Order (" NP12-203 "). On February 29, 2024, the Companyannounced that there would be a delay in the filing of its financialstatements and accompanying management’s discussion and analysis forthe fiscal year ended October 31, 2023 (the " Annual Filings ")beyond the period prescribed under applicable Canadian securities laws(the " DefaultAnnouncement "). On May 14, 2024, the BCSChas issued a cease trade order under Multilateral Instrument 11-103– Failure-to-File Cease Trade Orders in Multiple Jurisdictions (the" FFCTO ") against the Company due to the continued delay of theAnnual Filings in accordance with the regulations.
The Company advises that the Annual Filings have beendelayed due to additional audit procedures, added complexities ofauditing certain transactions during the financial year and theauditor has required additional time for partner and consultant reviewas part of those enhanced measures. The Company is working diligentlywith its auditors to complete the audit and will make the requiredfilings as soon as possible. The auditors have advised the Companythat they except to be able to complete their review and release theiraudit report in approximatley one weeks time.
The Company confirms that there is no materialinformation concerning the affairs of the Company that has not beengenerally disclosed. The Company will provide further updates ontiming if it anticipates any additional delays.
On behalf of the Board of Directors of theCompany,
TAAT® GLOBAL ALTERNATIVES INC.
“Michael Saxon”
Michael Saxon, CEO and Director
For further information, please contact:
TAAT® Investor Relations
1-833-TAAT-USA (1-833-822-8872)
investor@taatglobal.com
THE CANADIAN SECURITIES EXCHANGE (“CSE”) HAS NOTREVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY ORADEQUACY OF THIS RELEASE, NOR HAS OR DOES THE CSE’S REGULATIONSERVICES PROVIDER.
About TAAT® Global Alternatives Inc.
TAAT® is a vertically integrated consumer product anddistribution company, generating more than CAD $90 million in overallgross revenue annually. TAAT® is strategically expanding its productcategories including tobacco and reduced-risk alternatives, hemp,kratom, and other emerging CPG segments. TAAT® has facilities to include a processing plant in Nevada as well asa distribution centre in Canton, Ohio, leveraging existing retailshelf space and pipelines into national wholesale channels.
For more information, please visit http://taatglobal.com .
Forward-Looking Statements
Certain information contained herein may constitute"forward-looking information" or "forward-lookingstatements" under Canadian securities legislation. Generally,forward-looking information can be identified by words such as"pro forma", "plans", "expects","may", "should", "could","will", "budget", "scheduled","estimates", "forecasts", "intends","anticipates", "believes", or variations includingnegative variations thereof of such words and phrases that refer tocertain actions, events or results that may, occur or be taken orachieved. Such forward-looking statements, including but not limitedto statements relating to the expected development and operations ofthe Company, statements concerning the timing, review, completion andfiling of the Annual Filings as well as the duration of the FFCTO,involve risks, uncertainties and other factors which may cause theactual results to be materially different from those expressed orimplied by such forward-looking statements or forward-lookinginformation. There can be no assurance that such statements will proveto be accurate, as actual results and future events could differmaterially from those anticipated in such statements. Accordingly,readers should not place undue reliance on forward-looking statementsand forward-looking information. The Corporation will not update anyforward-looking statements or forward-looking information includedherein, except as required by applicable securities laws.
The statements in this news release have not beenevaluated by Health Canada or the U.S. Food and Drug Administration.As each individual is different, the benefits, if any, of taking theCompany’s products will vary from person to person. No claims orguarantees can be made as to the effects of the Company’s productson an individual’s health and well-being. The Company’s productsare not intended to diagnose, treat, cure, or prevent anydisease.
This news release may contain trademarked names ofthird-party entities (or their respective offerings with trademarkednames) typically in reference to (i) relationships had by the Companywith such third-party entities as referred to in this release and/or(ii) client/vendor/service provider parties whose relationship withthe Company is/are referred to in this release. All rights to suchtrademarks are reserved by their respective owners orlicensees.
Statement Regarding Third-Party Investor RelationsFirms
Disclosures relating to investor relations firmsretained by TAAT® Global Alternatives Inc. can be found under theCompany's profile on http://sedarplus.ca .
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