12:55:11 EDT Sat 18 May 2024
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LeanLife still working on fiscal 2023, 2023 results

2023-11-08 18:25 ET - News Release

Mr. Stan Lis reports

LEANLIFE UPDATE ON CEASE TRADE ORDER

LeanLife Health Inc. continues to work with its auditors to complete its audited annual financial statements for the fiscal years ended March 31, 2022, and 2023, as well as the interim financial statements for the periods ended June 30, 2022, and 2023, Sept. 30, 2022, and 2023, and Dec. 31, 2022, along with the related management's discussion and analysis, and chief executive officer and chief financial officer certifications.

On August 5, 2022 the British Columbia Securities Commission ("BCSC"), the Alberta Securities Commission ("ASC") and the Ontario Securities Commission ("OSC) (on behalf of the applicable Canadian securities regulatory authorities) issued a general "failure to file" cease trade order pursuant to National Policy 11-207 - Failure to File Cease Trade Orders and Revocations in Multiple Jurisdictions (the "CTO"). The CTO will remain in place until such time all of the Filings are posted to SEDAR and the required regulatory bodies.

The CTO prohibits the trading by any person of any securities of the Company in each jurisdiction in Canada in which the Company is a reporting issuer, including trades in the Company's common shares made through the Canadian Securities Exchange, for as long as the CTO remains in effect; however, the CTO provides an exception for beneficial securityholders of the Company who are not currently (and who were not as of August 5, 2022 ) insiders or control persons of the Company and who sell securities of the Company acquired before August 5, 2022 if both of the following criteria are met: (i) 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 (ii) the sale is made through an investment dealer registered in a jurisdiction of Canada in accordance with applicable securities legislation. 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.

The Company is not currently subject to any insolvency proceedings.

The Company is pleased to announce that Mr. James Casey Forward, CPA, CGA, has rejoined the Company as CFO, "I am anxious to help LeanLife complete their financial statement filings, and move ahead with their business model."

We seek Safe Harbor.

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