(TheNewswire)
Vancouver BC - TheNewswire- September29, 2020 - Agrios Global Holdings Ltd. (CSE:AGRO) (OTC:AGGHF) (CNSX:AGRO.CN) (FSE:OSA-WKN-A2N62K) ("Agrios" or the "Company") provides this bi-weekly default status report in accordancewith National Policy 12-203 - Management Cease Trade Orders. On July10, 2020, the Company announced that, for reasons set out in its newsrelease of July 10, 2020, the filing of its annual audited financialstatements for the year ended March 31, 2020 the accompanyingmanagement's discussion and analysis and the related CEO and CFOcertifications (collectively, the " Annual Filings ") would not be filed by the prescribeddeadline of September 14, 2020 .
On September 15, 2020, the BritishColumbia Securities Commission, as principal regulator, granted atemporary management cease trade order (the " MCTO "). As previously announced, the Companyrequires additional time to file the Annual Filings due to unforeseenimpacts arising from the COVID-19 pandemic which have continued todelay the audit of the Company's annual financial statements. As aresult, the Company concluded that it would not be in a position tocomplete the year-end audit within the time periods required byNational Instrument 51-102.
As a result of the delay in filing theAnnual Filings, the Company's June 30, 2020 Q1 interim financial statements, theaccompanying management discussion and analysis and related CEO andCFO certificates (the " Q1 Filings ") will not be filed by the prescribed deadline. The Companycurrently anticipates that it will be in a position to file both theAnnual Filings and Q1 Filings by October 14, 2020 .
Pursuant to National Policy 12-203, theCompany must file bi-weekly default status reports in the form offurther news releases during the period of the MCTO. The Companyreports that since its news release of July 10, 2020, there have beenno material changes regarding the information contained in that newsrelease. The Company confirms there have been no failures by theCompany in fulfilling its stated intentions with respect to satisfyingthe provisions of the alternative information guidelines underNational Policy 12-203, and, other than the disclosure set forth aboverelating to the late filing of the Q1 Filings, there has not been, noris there anticipated to be, any specified default subsequent to thedefault announced in the Company's news release of July 10 , 2020 . The Company also confirms that there is noother material information concerning the affairs of the Company thathas not been generally disclosed as of the date of this newsrelease.
About Agrios GlobalHoldings Ltd.
Agrios Global Holdings is a dataanalytics-driven agriculture technology and services company advancingthe latest innovations in indoor growing science. The Company owns,leases and manages properties and equipment for eco-sustainableagronomy and provides advisory services to support all aspects ofaeroponic cultivation in the cannabis sector. Agrios is activelypursuing new opportunities to expand its portfolio of tenant growersand infrastructure assets in strategic licensed jurisdictions. Basedin Vancouver, BC. Agrios is managed by a highly accomplished team ofexperienced industry and capital markets experts who are committed tothe growth of the company.
For further information pleasecontact:
Chris Kennedy
Director
604-336-2444
investor@agriosglobal.com
This news release was prepared bymanagement of Agrios, which takes full responsibility for itscontents. The Canadian Securities Exchange ("CSE") has notreviewed and does not accept responsibility for the adequacy of this news release. Neither theCSE nor its Regulation Services Provider (as that term is defined inthe policies of the CSE) accepts responsibility for the adequacy oraccuracy of this release.
Forward LookingStatements
Statements in this news release that areforward-looking statements are subject to various risks anduncertainties concerning the specific factors disclosed here andelsewhere in Agrios' periodic filings with Canadian securitiesregulators. When used in this news release, words such as "will,could, plan, estimate, expect, intend, may, potential, believe,should," and similar expressions, are forward-lookingstatements.
Forward-looking statements may include,without limitation, statements related the timing of the filing of theAnnual Financial Statements and the filing of the bi-weekly default status reports.
Although Agrios has attempted toidentify important factors that could cause actual results,performance or achievements to differ materially from those containedin the forward-looking statements, there can be other factors thatcause results, performance or achievements not to be as anticipated,estimated or intended, including, but not limited to: dependence onobtaining regulatory approvals; investing in target companies orprojects which have limited or no operating history and are engaged inactivities currently considered illegal under US Federal laws; changein laws; limited operating history; reliance on management;requirements for additional financing; competition; hindering marketgrowth and state adoption due to inconsistent public opinion andperception of the medical-use and adult-use marijuana industry and;regulatory or political change.
There can be no assurance that suchinformation will prove to be accurate or that management'sexpectations or estimates of future developments, circumstances orresults will materialize. Because of these risks and uncertainties,the results or events predicted in these forward-looking statementsmay differ materially from actual results or events.
Accordingly, readers should not placeundue reliance on forward-looking statements. The forward-lookingstatements in this news release are made as of the date of thisrelease. Agrios disclaims any intention or obligation to update orrevise such information, except as required by applicable law, andAgrios does not assume any liability for disclosure relating to anyother company mentioned herein.
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