Stockwatch

Sweet Poison Spirits Inc
Symbol	SPS
Shares Issued	30,623,451
Close 2023-08-21	C$ 0.025
Market Cap	C$ 765,586
Recent Sedar Documents

Sweet Poison misses deadline for fiscal 2023 results

2023-08-30 19:07 ET - News Release

Subject: Sweet Poison Spirits - News Release - Aug 30 Word Document File: '\\swfile\EmailIn\20230830 160119 Attachment 2023-08-30 - SPS - News Release - MCTO.docx' - 2 - Sweet Poison Spirits Inc., Suite 750, 580 Hornby Street, Box 113, Vancouver, British Columbia, Canada V6C 3B6 Telephone: (604) 602-4935 l Fax: (604) 602-4936 August 30, 2023 Trading Symbol: SPS News Release Sweet Poison Announces Delay in Filing of Annual Financial Statements and files Application for MCTO Vancouver, British Columbia --Sweet Poison Spirits Inc. (CSE: SPS) (the "Company" or "Sweet Poison") announces that as a result of delays in the completion of its audit, the Company will be unable to file its financial statements and accompanying management's discussion and analysis for the financial year ended April 30, 2023 (collectively, the "Annual Filings") by August 28, 2023, being the date that such filings are due under applicable Canadian securities law requirements. The Company is late in the completion of the Annual Filings due to a combination of factors including, that the Company is unable to meet the requirements of the Auditor to receive sign-off for the Auditor's Report; and the closing of the first tranche of the Company's financing. In response to the reporting delay, the Company has applied to the British Columbia Securities Commission for a management cease trade order (the "MCTO") which prohibits certain current directors, officers and insiders of the Company from trading in securities of the Company for so long as the Annual Filings are not filed. Management is working with the auditors to ensure all audit standards are met prior to receipt of the Auditor's Report pursuant to completion of the audit of the financial statements in accordance with IFRS standards. Although the MCTO has given the Company until October 27, 2023 to file its Annual filings, the Company believes it will have resolved all issues and will satisfy auditor requirements on or before September 28, 2023. Until the Company files the Annual Filings, it will comply with the alternative information guidelines set out in National Policy 12-203 - Management Cease Trade Order. The guidelines, among other things, require the Company to issue biweekly default status reports by way of a news release for as long as the Annual Filings have not been filed. During the MCTO, the general investing public will continue to be able to trade in the Company's shares. The Company confirms that, other than as disclosed in prior press releases and material change reports, there have been no material business developments since the filing on March 24, 2023 of the Company's latest interim financial reports for the period ended January 31, 2023. About Sweet Poison Spirits Inc. Sweet Poison Spirits owns various formulas for Sweet Poison tequila and mezcal, and holds the worldwide distribution rights to Sweet Poison premium quality spirits. The Company is committed to respecting traditional and ancestral processes, sustainability and the environment. For more on Sweet Poison, visit www.sweetpoisonspirits.com. ON BEHALF OF THE BOARD (Sgd.) "Robert Eadie" Robert Eadie, President, Chief Executive Officer and Director FOR FURTHER INFORMATION PLEASE CONTACT: Telephone: 1-604-602-4935 ext. 205 Contact: Robert Eadie Email: investor@sweetpoisonspirits.com Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. PDF Document File: Attachment 2023-08-30 - SPS - News Release - MCTO.pdf August 30, 2023 Trading Symbol: SPS News Release Sweet Poison Announces Delay in Filing of Annual Financial Statements and files Application for MCTO Vancouver, British Columbia Sweet Poison Spirits Inc. (CSE: SPS) (the "Company" or "Sweet Poison") announces that as a result of delays in the completion of its audit, the Company will be unable to file its financial statements and accompanying management's discussion and analysis for the financial year ended April 30, 2023 (collectively, the "Annual Filings") by August 28, 2023, being the date that such filings are due under applicable Canadian securities law requirements. The Company is late in the completion of the Annual Filings due to a combination of factors including, that the Company is unable to meet the requirements of the Auditor to receive sign-off for the Auditor's Report; and the closing of the first tranche of the Company's financing. In response to the reporting delay, the Company has applied to the British Columbia Securities Commission for a management cease trade order (the "MCTO") which prohibits certain current directors, officers and insiders of the Company from trading in securities of the Company for so long as the Annual Filings are not filed. Management is working with the auditors to ensure all audit standards are met prior to receipt of the Auditor's Report pursuant to completion of the audit of the financial statements in accordance with IFRS standards. Although the MCTO has given the Company until October 27, 2023 to file its Annual filings, the Company believes it will have resolved all issues and will satisfy auditor requirements on or before September 28, 2023. Until the Company files the Annual Filings, it will comply with the alternative information guidelines set out in National Policy 12-203 Management Cease Trade Order. The guidelines, among other things, require the Company to issue biweekly default status reports by way of a news release for as long as the Annual Filings have not been filed. During the MCTO, the general investing public will continue to be able to trade in the Company's shares. The Company confirms that, other than as disclosed in prior press releases and material change reports, there have been no material business developments since the filing on March 24, 2023 of the Company's latest interim financial reports for the period ended January 31, 2023. About Sweet Poison Spirits Inc. Sweet Poison Spirits owns various formulas for Sweet Poison tequila and mezcal, and holds the worldwide distribution rights to Sweet Poison premium quality spirits. The Company is committed to respecting traditional and ancestral processes, sustainability and the environment. For more on Sweet Poison, visit www.sweetpoisonspirits.com. Sweet Poison Spirits Inc., Suite 750, 580 Hornby Street, Box 113, Vancouver, British Columbia, Canada V6C 3B6 Telephone: (604) 602-4935 Fax: (604) 602-4936 - 2 - ON BEHALF OF THE BOARD (Sgd.) "Robert Eadie" Robert Eadie, President, Chief Executive Officer and Director FOR FURTHER INFORMATION PLEASE CONTACT: Telephone: 1-604-602-4935 ext. 205 Contact: Robert Eadie Email: investor@sweetpoisonspirits.com Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.