Abattis Delays 2020 Q3 Results to October 14, 2020
Vancouver, British Columbia / August 31, 2020 / Abattis Bioceuticals Corp. (“Abattis” or the “Company”)(CSE:ATT)(OTC:ATTBF) announces that it will delay the release of its interim financial statements for the nine months ended June 30, 2020.
On March 18, 2020, and May 20, 2020 the Canadian Securities Administrators (the "CSA") issued notices stating that securities regulators will be providing coordinated relief consisting of a 45-day extension for certain periodic filings required to be made on or prior to August 31, 2020 as a result of the COVID-19 pandemic. As such, the British Columbia Securities Commission ("BCSC") has enacted BC Instrument 51-515 Temporary Exemption from Certain Corporate Finance Requirements ("BCI 51-515"). The Company will be relying on this extension due to delays experienced as result of the COVID-19 pandemic.
The Company will be relying on the temporary extension pursuant to BCI 51-515 in respect to the following provisions:
• the requirement to file interim financial statements for the nine months ended June 30, 2020 (the "Financial Statements") within 60 days of the end of such period, as required by section 4.4(b) of National Instrument 51-102 Continuous Disclosure Obligations (“NI 51- 102”);
• the requirement to file management discussion and analysis (the "MD&A") for the period covered by the Financial Statements within 60 days of the end of such period, as required by section 5.1(2) of NI 51-102; and
• the requirement to file certifications of the Financial Statements (the "Certifications" and together with the Financial Statements and the MD&A, the "Interim Filings") within 60 days of the end of the period covered therein, as required by section 5.1 of National Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings.
The Company expects that the Interim Filings will be filed on or before October 14, 2020.
On February 4, 2019, the company was issued a cease trade order (the “CTO”) by the BCSC due to the Company’s failure to file its year-end financial statements within the 120-day deadline required under NI 51-102. The Company continues to work with the BCSC to resolve all comments and questions relating to the CTO and hopes to complete the review soon. Should the CTO be lifted during the 45-day extension under the BCI 51-515, the directors and officers of the Company, and certain other persons will be subject to a trading black-out that reflects the principles in section 9 of National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions pursuant to which such persons will be prohibited from trading any securities of the Company until the Interim Filings are filed on SEDAR.
About Abattis Bioceuticals Corp.
Abattis is a life sciences and biotechnology company which aggregated, integrated, and invested in cannabis technologies and biotechnology services for the legal cannabis industry developing in Canada.
ON BEHALF OF THE BOARD, ABATTIS BIOCEUTICALS CORP. “Rob Abenante”
Robert Abenante, President & CEO
For more information, please visit the Company’s website at: www.abattis.com. For inquiries please contact investors@abattis.com. Abattis’ investor relations are managed by Canada One Communications Inc.
FORWARD LOOKING INFORMATION
This press release contains forward-looking statements. The use of any of the words including but not exclusive to “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “intends”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements regarding: (i) the Interim Filings and the expected timing thereof; (ii) the CTO and revocation thereof; and (iii) the trading of the Company’s common shares. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company 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. Additional risk factors are included in the Company’s Management’s Discussion and Analysis, available under the Company’s profile on www.sedar.com. The forward-looking statements are made as at the date hereof and the Company disclaims any intent or obligation to publicly update any forward-looking statements, where because of new information, future events or results, or otherwise, except as required by applicable securities laws.
.