Chalice Brands Ltd CHALF

feelsbadman

[meowmeowmeow]

Going Concern:

Additionally, subsequent to the date of this report the Cannabis market in Oregon has experienced turbulence due to regulatory challenges and climate related crop losses. Due to this there is a temporary shortage of raw materials which has limited the Company's ability to manufacture and sell its products which will result in a material reduction in cash flow for the fourth quarter. The Company has a healthy amount of capital but is actively pursuing additional financing sources still, in hopes of continued investment resources. Although the Company has been successful in raising funds to date, there can be no assurance that adequate or sufficient funding will be available in the future or available under acceptable terms, or the Company will be able to generate sufficient cash flow from operations. These circumstances do not indicate the existence of material uncertainty that casts substantial doubt as to the reasonableness of the going concern assumption, however, given the uncertain market conditions in which the Company operates, and the anticipated burn rate of the current funding, it may be possible Company will need to raise additional capital to support operations within 12 months