Sproutly announces filing of cease trade order

Vancouver-based cannabis beverage maker Sproutly Canada Inc. (CSE.SPR) has applied for a cease trade order with B.C. regulators on Monday. This, in advance of an August 12th financial statement-filing deadline the company is likely to miss.

The company has blamed the COVID-19 pandemic for its inability to complete an audit on time. Sproutly also utilized a pandemic-driven regulators’ extension to delay filing its first-quarter financial results. The company pledged to file its statements no later than August 28th and to disclose its first-quarter results by September 14th.

Investors will still be able to trade the company’s CSE-listed shares during the order, but will prevent company executives to issue or acquire shares.

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