News
Nutritional High still expects 2020 results by Jan. 31
2021-01-13 06:32 ET - News Release
Mr. Robert Wilson reports
NUTRITIONAL HIGH PROVIDES AN UPDATE TO THE MANAGEMENT CEASE TRADE ORDER
Nutritional High International Inc. has provided this biweekly default status report in accordance with National Policy 12-203 -- Cease Trade Orders for Continuous Disclosure Defaults. In the Corporation's initial default announcement of October 30, 2020 (the "Default Notice"), the Corporation announced the delay in the filing of its audited annual financial statements for the year ended July 31, 2020 (the "2020 Annual Financial Statements") and related management discussion and analysis and certifications (collectively, the "Annual Filings") by the prescribed filing deadline.
As previously announced in the Company's December 1, 2020 press release of the Corporation, the Corporation applied for and was granted a management cease trade order in respect of the delayed Annual Filings (the "MCTO") by the Ontario Securities Commission. The MCTO prohibits the chief financial officer and the chief executive officer from trading in the Corporation's securities for so long as there are filings that are outstanding under applicable securities laws. The MCTO does not affect the ability of the general investing public to trade in the Corporation's listed common shares.
The audit of the 2020 Annual Financial Statements is in progress and the Corporation continues to expect to file the Annual Filings on or before January 31, 2021.
The Corporation confirms that since the Default Notice: (i) there is no material change to the information set out in the Default Notice that has not been generally disclosed; (ii) there has been no failure by the Corporation in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203; (iii) there has not been any other specified default by the Corporation under NP 12-203; and (iv) there is no other material information concerning the affairs of the Corporation that has not been generally disclosed.
Furthermore, the Corporation anticipates that its interim financial statements for the three-month period ended October 31, 2020, the accompanying management's discussion and analysis and the related CEO and CFO certifications will not be filed by the prescribed filing deadline and will be filed after the Annual Filings are completed and filed.
The Corporation will continue to comply with the provisions of the alternative information guidelines under NP 12-203 by issuing bi-weekly default status reports in the form of news releases for so long as it remains in default of the filing requirements set out above.
About Nutritional High International Inc.
Nutritional High is focused on developing and manufacturing branded products in the cannabis industry, with a specific focus on edibles and oil extracts for medical and adult recreational use. The Company works exclusively in jurisdictions where such activity is permitted and regulated by state law. Nutritional High has brought its flagship FLI™ edibles and vape product lines from production to market in various markets including Colorado where its award winning FLI™ products are manufactured by Palo Verde, LLC. The Company signed a purchase agreement for Palo Verde and is awaiting regulatory approv