I heard about the full statement just came out tonight:
Relevium still unable to file fiscal 2020 results
2020-11-30 18:59 ET - News Release
Mr. Aurelio Useche reports
RELEVIUM PROVIDES REGULATORY UPDATE ON ANNUAL FINANCIALS AND MANAGEMENT CEASE TRADE ORDER
Relevium Technologies Inc. has provided an update to its previously disclosed management cease trade order (MCTO), announced on Oct. 27, 2020, in respect of the audited annual financial statements and corresponding management's discussion and analysis for the year ended June 30, 2020, including the chief executive officer and chief financial officer certifications that were not filed by the required filing deadline of Oct. 28, 2020.
As previously disclosed, the annual financial filings were not filed on or before the filing deadline due to the fact that the company has changed its auditor from Guimond Lavallee Inc. to RSM Canada LLP and the COVID-19 pandemic. The company has been advised by its new auditor, RSM Canada, that it needs more time to complete the audit. Due to the COVID-19 pandemic, the company has experienced delays in providing to RSM Canada some of the information required for the completion of this audit.
The company is working expeditiously on the steps required to complete the annual financial filings and expects to be able to file the annual financial filings by Nov. 28, 2020. The company and the auditor have requested additional time and will provide updates as further information relating to the annual financial filings becomes available.
The MCTO will be in effect until the annual financial filings are filed and requires that the annual financial filings be filed.
Until the annual financial filings are filed, the company will issue biweekly default status reports in accordance with National Policy 12-203 -- Management Cease Trade Orders. The company intends to satisfy the provisions of the alternative information guidelines during the period it remains in default of the filing requirements. The company confirms that there have been no material business developments or other material information relating to its affairs as of the date of this news release that have not been generally disclosed.
About Relevium Technologies Inc.
Relevium is a publicly traded company that operates in the health and wellness industry with a primary focus on on-line distribution. The principal business of the company is the identification, evaluation, acquisition and operation of brands and businesses in the health and wellness markets. The company recently entered the PPE (personal protective equipment) business as part of its strategy through acquisitions and partnerships in a holistic approach to encompass a wide range of health and wellness consumer products. Relevium operates through two wholly owned subsidiaries:
- BGX E-Health LLC, based in Orlando, Fla., markets dietary supplements, nutraceuticals, sports nutrition and cosmeceuticals primarily through its Bioganix brand portfolio in the United States and Europe. Relevium's premium brands are sold at some of the world's largest retailers, including Walmart and Amazon.
- Biocannabix Health Corp., based in Montreal, Que., is a biopharma nutraceutical company focused on delivering pediatric endo-medicinal nutraceuticals for cannabinoid therapy.
We seek Safe Harbor.
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