Stockwatch

Vegano Foods Inc (2)
Symbol	VAGN
Shares Issued	29,340,151
Close 2023-08-01	C$ 0.10
Market Cap	C$ 2,934,015
Recent Sedar Documents

Vegano Foods receives management cease trade order

2023-08-01 19:54 ET - News Release

Subject: Vegano Foods Inc. - News Release for Dissemination PDF Document File: Attachment News Release- MCTO (00031750x10671B).PDF VEGANO GRANTED VOLUNTARY MANAGEMENT CEASE TRADE ORDER Vancouver, B.C., Canada August 1, 2023. Vegano Foods Inc. (CSE: VAGN) (OTCQB: VAGNF) ("Vegano" or the "Company") announces that it has been granted a voluntary management cease trade order in accordance with National Policy 12-203 due to it not being able to file its annual financial statements and management's discussion and analysis ("MD&A") for the year ended March 31, 2023 on SEDAR within 120 days of its financial year-end. The management cease trade order has been granted by the Company's principal regulator, the British Columbia Securities Commission. The Company concluded that it would not be in a position to complete the year-end audit within the time periods required by National Instrument 51-102 due to a change of the Company's auditor. As a result, the Company requires additional time to file its annual financial statements and MD&A for the financial year ended March 31, 2023. The Company has appointed MNP LLP to audit the annual financial statements for the year-ended March 31, 2023 and to act as auditor until the next annual general meeting of the Company's shareholders. The Company will soon provide further details in a reporting package regarding the auditor's appointment in accordance with section 4.11 of National Instrument 51-102. The Company expects to file its annual financial statements and MD&A for the year ended March 31, 2023 as soon as they are available, but in any event no later than September 29, 2023, and will issue a news release once they have been filed. The Company intends to satisfy the provisions of the alternative information guidelines of National Policy 12-203, by issuing bi-weekly default status reports, in the form of news releases, until the revocation of the management cease trade order. The Company is not subject to any insolvency proceedings. The management cease trade order will prohibit the chief executive officer and the chief financial officer of the Company from trading in securities of the Company for so long as the annual financial statements and MD&A are not filed. The issuance of the management cease trade order does not affect the ability of persons other than the chief executive officer and the chief financial officer of the Company to trade in the Company's securities. About Vegano Foods Inc. Vegano Foods Inc. is a 100% plant-based online marketplace company operating in Vancouver. Founded in March of 2020, Vegano helps make healthy plant-based eating more accessible to Canadians, allowing them to take veganism beyond Meatless Mondays and Veganuary. Vegano sources high-quality products to make for easy plant-based shopping all on one website. For more information, visit www.veganofoods.com. ON BEHALF OF THE BOARD OF DIRECTORS Ricky Goraya, Interim CEO & Director 604-265-3398 Press Contact: media@veganofoods.com The CSE has neither approved nor disapproved the contents of this news release. The CSE does not accept responsibility for the adequacy or accuracy of this release. Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to: the Company filing its annual financial statements and MD&A for the year ended March 31, 2023 as soon as they are available, and no later than September 29, 2023, and issuing a news release; and the Company filing a reporting {00030902:3} - 2 - package regarding the auditor's appointment in accordance with section 4.11 of National Instrument 51- 102; and the Company satisfying the provisions of the alternative information guidelines of National Policy 12-203. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "anticipates", "expects" "intends" "will" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are from those expressed or implied by such forward-looking statements or forward-looking information subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different, including receipt of all necessary regulatory approvals. Although management of the Company have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward- looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws. {00030902:3}