(TheNewswire)
Vancouver, B C - TheNewswire - May 15, 2023 - ArevLife Sciences Global Corp. (CSE:AREV) (OTC:AREVF) (“ AREV ” or the Company ”) AREV Life Sciences did not file its annual financial statements andmanagement’s discussion & analysis for the fiscal year endedDecember 31, 2022, by the filing deadline of April 30, 2023, and asa result is in default of its obligations under Part 4 of NationalInstrument 51-102 Continuous Disclosure Obligations.
The Company has requested from the applicable Canadiansecurities regulators that a management cease trade order related tothe Company's securities be imposed against some or all of the personswho have been directors, officers or insiders of the Company. AManagement Cease Trade Order was issued on May 3, 2023. This orderdoes not generally affect the ability of persons who have not beendirectors, officers or insiders of the Company to trade the Company'ssecurities.
The Company intends to satisfy the alternativeinformation guidelines set out National Policy 12 – 203 Cease TradeOrders for Continuous Disclosure Default by filing bi-weekly DefaultStatus Reports, as required, until such time as the financialstatements and MD&A are filed.
The Company advises that there are no material changesto the information contained in the default announcement orparticulars of the failure, and there is no material informationconcerning the affairs of the Company that has not been generallydisclosed. The Company does not anticipate any subsequent defaultsunder National Instrument 51-102 Continuous DisclosureObligations.
For further information, contact Mike Withrow,arevlifesciences@gmail.com 778-929-6536. For more information visitwww.arevlifesciences.com.
On behalf of the Board,
Mike Withrow
CEO & Director
About AREV Life Sciences GlobalCorp.
The Company is a fully integrated enterprise withcompetencies in: 1) extraction of compounds for consumption andtopical use. 2) Clinical Nutrition and 3) A technology platform calledMedicine Merchant. The Company produces ingredients and formulatesexclusive therapeutic interventions with plans to deliver innovationin clinical nutrition, proprietary supplements, topicals and rationaldrug design, based on science. The Company’s business modelleverages its core competency of extraction to produce ingredients andcompounds for its pipeline of products. The Company continues in theproduct development and pre-commercialization stage. AREV is dedicatedto designing and delivering innovation in rational drug design, drivenby presenting global epidemiological characteristics of multiplechallenges to international human and animal health. AREV is a memberof both BIOTECanada and The Biotechnology Innovation Organization(BIO).
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITSREGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITYFOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
FORWARD LOOKING INFORMATION
Neither the Canadian Securities Exchange nor itsRegulation Services Provider (as that term is defined in policies ofthe CSE) accepts responsibility for the adequacy or accuracy of thisrelease. This news release may include forward-looking statements thatare subject to risks and uncertainties. All statements within, otherthan statements of historical fact, are to be considered forwardlooking. Although the Company believes the expectations expressed insuch forward looking statements are based on reasonable assumptions,such statements are not guarantees of future performance and actualresults or developments may differ materially from those inforward-looking statements. Factors that could cause actual results todiffer materially from those in forward-looking statements includemarket prices, exploitation and exploration successes, and continuedavailability of capital and financing, and general economic, market orbusiness conditions. There can be no assurances that such statementswill prove accurate and, therefore, readers are advised to rely ontheir own evaluation of such uncertainties. We do not assume anyobligation to update any forward-looking statements except as requiredunder the applicable laws. This press release contains forward-lookingstatements. The use of any of the words "anticipate","continue", "estimate", "expect","may", "will", "project","should", "believe" and similar expressions areintended to identify forward-looking statements. Although theCompany believes that the expectations and assumptions on which theforward-looking statements are based are reasonable, undue relianceshould not be placed on the forward-looking statements because theCompany can give no assurance that they will prove to be correct.Since forward-looking statements address future events and conditions,by their very nature they involve inherent risks and uncertainties.These statements speak only as of the date of this press release.Actual results could differ materially from those currentlyanticipated due to a number of factors and risks various risk factorsdiscussed in the Company’s Management’s Discussion and Analysisunder the Company’s profile on www.sedar.com.
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