(TheNewswire)
V A N C O U V ER, B C – TheNewswire - September 28, 2021 – CannAmerica Brands Corp. (CSE:CANA) (OTC:CNNXF) (CNSX:CANA.CN) (" CannAmerica " or the " Company ") announces that the British Columbia Securities Commission(the " BCSC ") has granted it an extension for its management ceasetrade order (" MCTO "). The MCTO was originally issuedby the BCSC, effective as of August 6, 2021 and ending on September28, 2021, in connection with the delay by the Company in filing itsannual financial statements, management's discussion and analysis andrelated officer certifications for the financial year ended March 31,2021 (collectively, the " Annual Filings ").
The Company continues to work closely with its auditorand expects to file the Annual Filings as soon as possible, but thecompletion of such Annual Filings was delayed as a result of complexities caused by COVID-19 pandemic, whichimpacted the Company's ability to complete the AnnualFilings .
The Company is providing this status update inaccordance with National Policy 12-203 – Management Cease Trade Orders (" NP12-203 "). The Company intends to continuefollowing the provisions of the Alternative Information Guidelines setout in NP 12-203, including the issuance of bi-weekly default statusreports in the form of news releases, for as long as the Companyremains in default. The Company confirms as of the date of this newsrelease that there has been no material change in the informationcontained in the default announcement issued August 10, 2021 and thereis no other material information concerning the affairs of the Companythat has not been generally disclosed. The Company anticipates filingthe Annual Filings and remedying its default on or before October 6,2021.
A bou t CannAmerica Brands Corp.
CannAmerica is a U.S. marine veteran founded andoperated portfolio of cannabis brands with licensing agreements in thestates of Colorado, Nevada, Oklahoma, Massachusetts and the Country ofCanada. The Company aims to maximize the value of its brands byemploying strong brand management teams, marketing and licensing thebrands through various distribution channels, including dispensaries,wholesalers, and distributors, in the United States andinternationally. The Company's core strategy is to enhance andmonetize the global reach of its existing brands, and to pursueadditional strategic acquisitions to grow the scope and diversity ofits brand portfolio.
For more information, please visit: www.cannamericabrands.com .
Contact: Dan Anglin,Chief Executive Officer and Director of CannAmerica BrandsCorp.
E m a il : info@cannamericabrands.com
Cautionary Note Regarding Forward-Looking Statements:This release includes certain statements and information that mayconstitute forward-looking information within the meaning ofapplicable Canadian securities laws. Forward-looking statements relateto future events or future performance and reflect the expectations orbeliefs of management of the Company regarding future events.Generally, forward-looking statements and information can beidentified by the use of forward-looking terminology such as"intends" or "anticipates", or variations of suchwords and phrases or statements that certain actions, events orresults "may", "could", "should","would" or "occur". This information and thesestatements, referred to herein as "forward?lookingstatements", are not historical facts, are made as of the date ofthis news release and include without limitation, statements regardingdiscussions of future plans, estimates and forecasts and statements asto management's expectations and intentions with respect to, amongother things, the ability of the Company to file the Annual Filingswithin the time period described herein.
These forward?looking statements involve numerousrisks and uncertainties and actual results might differ materiallyfrom results suggested in any forward-looking statements. These risksand uncertainties include, among other things: the Company beingunable to file the Annual Filings in the proposed timeframe.
In making the forward looking statements in this newsrelease, the Company has applied several material assumptions,including without limitation, that: the Company will be able to filethe Annual Filings in the proposed time frame.
Although management of the Company has attempted toidentify important factors that could cause actual results to differmaterially from those contained in forward-looking statements orforward-looking information, there may be other factors that causeresults not to be as anticipated, estimated or intended. There can beno assurance that such statements will prove to be accurate, as actualresults and future events could differ materially from thoseanticipated in such statements. Accordingly, readers should not placeundue reliance on forward-looking statements and forward-lookinginformation. Readers are cautioned that reliance on such informationmay not be appropriate for other purposes. The Company does notundertake to update any forward-looking statement, forward-lookinginformation or financial out-look that are incorporated by referenceherein, except in accordance with applicable securities laws. We seeksafe harbor.
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