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MIMI'S ROCK ANNOUNCES CEASE TRADE ORDER AND PROVIDES UPDATE TO SHAREHOLDERS ON STATUS OF FINANCIAL STATEMENT FILINGS

V.MIMI

TORONTO, May 9, 2022 /CNW/ - Mimi's Rock Corp. (the "Company") (TSXV: MIMI) (OTCQB: MIMNF) continues to work diligently to complete the filing of its annual audited financial statements for the year ended December 31, 2021 and its related management's discussion and analysis, and officer certifications (collectively, the "Required Filings") which were due to be filed on May 2, 2022 (the "Filing Deadline").

The Company confirms that the Ontario Securities Commission (the "OSC") has issued a failure to file cease trade order against the Company ("CTO") which orders that general trading, whether direct or indirect, of the securities of the Company cease. A copy of the CTO has been posted to the OSC website.

Despite the CTO, a beneficial holder of a security of the Company who is not, and was not as of the date of the CTO, an insider or control person of the Company may sell securities of the Company acquired before the date of the CTO if: (a) the sale is made through a "foreign organized regulated market", as defined in section 1.1 of the Universal Market Integrity Rules of the Investment Industry Regulatory Organization of Canada; and (b) the sale is made through an investment dealer registered in a jurisdiction of Canada in accordance with applicable securities legislation. Holders of the Company's securities are urged to consult with their own investment advisors or legal counsel about the implications of the CTO.

The Company does not expect an interruption of the operations of the Company during the CTO.

The Company anticipates that it will complete the Required Filings on or before May 27, 2022. Revocation of the CTO is expected to occur within a few days after the Required Filings are made. However, there is no assurance that the Company will be able to remedy its filing default and have the CTO lifted in a timely manner or at all.

About Mimi's Rock Corp.:

Mimi's Rock Corp. (www.mimisrock.com) is an online dietary supplement and wellness company which markets and sells its products under the Dr. Tobias, All Natural Advice and Maritime Naturals brand names. The Dr. Tobias brand features over 30 products, including the top-selling Colon 14-Day Cleanse and the #1 selling Omega 3 Fish Oil on Amazon.com. All Natural Advice and Maritime Naturals products focus on skin and beauty care. Products sold under the All Natural and Maritime Naturals brand names are made in Canada and registered with Health Canada and under the EU Cosmetics Act. All Natural Advice has been featured on BNN as a top selling skincare brand in Canada, and has been rated the #1 Beauty Brand on Amazon Canada for the past four years.

Forward-Looking Statements

This news release contains certain "forward-looking statements" or "forward-looking information" (collectively "forward looking statements") within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Forward-looking statements can frequently be identified by words such as "plans", "continues", "expects", "projects", "intends", "believes", "anticipates", "estimates", "may", "will", "potential", "proposed" and other similar words, or information that certain events or conditions "may" or "will" occur. Forward-looking statements in this news release include statements regarding the expected timing of filing the Required Filings, and the expected revocation of the CTO following the filing of the Required Filings. Such forward-looking statements are based on assumptions known to management at this time, and are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the forward-looking statements, including that the Required Filings may not be completed in the time expected, that the CTO will be lifted in a timely manner and other factors beyond the Company's control. No assurance can be given that any of the events anticipated by the forward-looking statements will occur on the terms or in the time expected, or at all, or, if they do occur, what benefits the Company will obtain from them. Readers are cautioned not to place undue reliance on the forward-looking statements in this release, which are qualified in their entirety by these cautionary statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements in this release, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE Mimi's Rock Corp.

Cision View original content: http://www.newswire.ca/en/releases/archive/May2022/09/c1648.html