GREY:DXBRF - Post Discussion
Post by
risky on May 30, 2020 7:43am
Another Delay
DENVER, May 29, 2020 /CNW/ - Dixie Brands Inc. ("Dixie" or "the Company") (CSE: DIXI.U), (OTCQX: DXBRF), (Frankfurt: 0QV), one of the cannabis industry's leading consumer packaged goods ("CPG") companies, today announces that it will delay the filing of its interim financial statements and accompanying management's discussion and analysis for the three months ended March 31, 2020 and 2019 and is relying on the filing extension provided by the Ontario Securities Commission on March 23, 2020, in response to the COVID-19 pandemic. The relief measures are contained in Ontario Instrument 51-502 entitled "Temporary Exemption from Certain Corporate Finance Requirements" (the "Exemption").
The Exemption provides, among other relief, a 45-day extension of the deadline for certain filings required to be made on or prior to June 1, 2020, subject to certain conditions, including the issuing and filing on SEDAR of a press release in advance of the filing deadline, incorporating certain prescribed information. Dixie will be relying on the Exemption in respect of the filing of its financial statements and management's discussion and analysis and related CEO and CFO certifications for the interim financial statements for the three months ended March 31, 2020 and 2019 (the "Interim Filings").
While Dixie and its independent auditors, MNP LLP ("MNP"), expected that its 2019 year-end financial results would be released by the original filing deadline, the logistical challenges posed by the COVID-19 pandemic have led to unforeseen delays. Dixie will continue to work diligently with MNP towards the completion of the related audit. The Company expects that its Interim Filings will be filed on or before July 14, 2020.
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