Vancouver, British Columbia--(Newsfile Corp. - April 28, 2022) - Emerald Health Therapeutics, Inc. (CSE: EMH) (OTCQX: EMHTF) ("Emerald" or the "Company") reports that it anticipates it will be unable to file its Annual Filings before the May 2, 2022 deadline and has applied to the British Columbia Securities Commission for a temporary management cease trade order.
Under the provisions of Parts 4 and 5 of National Instrument 51-102 - Continuous Disclosure Obligations ("NI 51-102"), Emerald is required to file its annual financial statements and management discussion and analysis for the year ended December 31, 2021 (collectively, the "Annual Filings") no later than May 2, 2022.
As the result of a combination of (a) the departure of the Company's Chief Executive Officer and Chief Financial Officer; (b) the change of the Company's auditor; (c) a reduction of the Company's workforce connected with the Company's recent decision to pivot to a pharmaceutical development focus (the "Strategic Process"); and (d) additional work needed to reflect the results of the Strategic Process in the Annual Filings, the Company anticipates it will be unable to file the Annual Filings before the May 2, 2022 deadline.