Subject: ATL News Release - Filing of Audited Financial Statements
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File: Attachment 2024-04-10 - News Release - Filing of Restated Financials and Audited Statements.pdf
Atlas Global Brands Announces Filing of Annual Financial Statements
CHATHAM, ONTARIO and TEL-AVIV, ISRAEL / Executive Business Services / April 10, 2024 Atlas
Global Brands Inc. ("Atlas Global" or the "Company") (CSE: ATL), a cannabis company with
expertise across the value chain, announced today that it has filed its audited annual consolidated
financial statements and related management's discussion and analysis and certifications for the
financial year ended March 31, 2023 (collectively, the "Required Annual Filings").
Further to its news release on April 3, 2024, the Company also filed its amended and restated its
unaudited consolidated interim financial statements for the three and twelve month period ended
December 31, 2022 and December 31, 2021 comparable period and related management
discussion and analysis thereon (together, the "A&R Interim Financials") to reflect certain
adjustments to the accounting treatment of the reverse takeover transaction completed on
December 30, 2022 and described in detail in the Company's news release of January 4, 2023.
The Required Annual Filings and the A&R Interim Financials were filed on April 9 , 2024, and copies
of these documents are available under the Company's profile on SEDAR+ (www.sedarplus.ca).
As more particularly set out in the news release filed on August 9, 2023, on August 8, 2023, the
Ontario Securities Commission (the "OSC"), the Company's principal regulator, issued a failure-to-
file cease trade order (the "FFCTO"), the FFCTO following the Company's failure to file the
Required Annual Filings.
Since the FFCTO, the Company also failed to file the interim financial statements, related
management's discussion and analysis and certifications, for the three months ended June 30,
2023, September 30, 2023 and December 31, 2023 (collectively, the "Required Interim Filings").
The Company anticipates it will have completed the Required Interim Filings on or about May 15,
2024.
With the Required Annual Filings complete, the Company intends to make application to the OSC
for a full revocation of the FFCTO. The FFCTO will not be revoked until, at least such time as, the
Required Interim Filings are made and reviewed by the OSC.
Upon filing of all of the Required Interim Filings, the Company will be current in its continuous
disclosure obligations. Its annual consolidated financial statements for the period ended March
31, 2024 are due July 29, 2024.
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About Atlas Global Brands
Atlas Global is a global cannabis company operating in Canada and Israel with expertise across the cannabis
value chain, including cultivation, manufacturing, marketing, and distribution. Atlas Global currently
distributes to eight countries: Australia, Canada, Denmark, Germany, Israel, Norway, Spain and the United
Kingdom. In addition to a differentiated product mix, Atlas Global operates two licensed cannabis facilities,
one of which has European Union good manufacturing practices, and three medical pharmacies in Israel.
Contact
Bernie Yeung
Chief Executive Officer
1-844-415-6961
invest@atlasglobalbrands.com
Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements"
(collectively, "forward-looking statements") within the meaning of the applicable Canadian
securities legislation. All statements, other than statements of historical fact, are forward-looking
and based on expectations, estimates and projections. Any statement that involves discussions
concerning predictions, expectations, beliefs, plans, projections, objectives, assumptions, future
events or performance (often but not always using phrases such as "expects" or "does not expect,"
"is expected," "anticipates" or "does not anticipate," "plans," "budget," "scheduled," "forecasts,"
"estimates," "believes" or "intends" or variations of such words and phrases or state that certain
actions, events or results "may" or "could," "would," "might" or "will" be taken to occur or be
achieved) are not statements of historical fact and may be forward-looking statements.
The forward-looking information in this news release reflects management's current expectations
based on information currently available and is subject to a number of risks and uncertainties that
may cause outcomes to differ materially from those discussed in the forward-looking information,
including that the Interim Filings will be made within the estimated time period or that the FFCTO
will be revoked in a timely manner or at all. Although the Company believes that the assumptions
and factors used in preparing the forward-looking information are reasonable, undue reliance
should not be placed on such information, and no assurance can be given that such events will
occur in the disclosed time frames or at all. New risk factors emerge from time to time. It is
impossible for the Company's management to predict all risk factors, nor can the Company assess
the impact of all factors on the Company's business or the extent to which any factor, or
combination of factors, may cause actual results to differ from those contained in any forward-
looking information. For a description of the risks and uncertainties facing the Company and its
business operations, readers should refer to the Company's management discussion and analysis
for the financial year ended March 31, 2023.
The forward-looking statements set forth herein concerning the Company reflect management's
expectations as of the date of this news release and are subject to change after such date. The
Company disclaims any intention or obligation to update or revise any forward-looking
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statements, whether as a result of new information, future events or otherwise, other than as
required by law.
Neither the Canadian Securities Exchange nor its Market Regulator (as defined in the CSE
policies) accepts responsibility for the adequacy or accuracy of this release.
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