11:15:52 EDT Fri 29 Mar 2024
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or Name
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International Cannabrands Inc
Symbol RDKO
Shares Issued 439,278,565
Close 2020-07-22 C$ 0.025
Market Cap C$ 10,981,964
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International Cannabrands receives MCTO

2020-07-22 17:14 ET - News Release

Mr. Steve Gormley reports

RADIKO ANNOUNCES MANAGEMENT CEASE TRADE ORDER

International Cannabrands Inc.'s (Radiko Holdings Corp.), further to its press release dated July 16, 2020, principal regulator, the Alberta Securities Commission, has accepted the company's application for and granted a management cease trade order dated July 17, 2020. The application for the MCTO was made by the company due to a delay in the filing of its unaudited interim financial statements, accompanying management's discussion and analysis, and related chief executive officer and chief financial officer certifications for the period ended March 31, 2020.

During the period in which the MCTO is effective, the general investing public, who are not insiders of the company, will continue to be able to trade in the company's listed common shares. However, the company's chief executive officer and chief financial officer will not be able to trade the company's common shares until such time as the Q1 filings have been filed by the company and the MCTO has been lifted.

The company's board of directors and its management confirm that they are working expeditiously to meet the company's obligations relating to the filing of the Q1 filings. At this time, the company anticipates being able to complete the Q1 filings on or before Aug. 31, 2020.

During the MCTO, the company confirms that it will comply with the provisions of the alternative information guidelines set out in National Policy 12-203 (Cease Trade Orders for Continuous Disclosure Defaults) for as long as it remains in default, including the issuance of biweekly default status reports, each of which will be issued in the form of a news release. The company confirms, as of the date of this news release, that there is no insolvency proceeding against it and there is no other material information concerning the affairs of the company that has not been generally disclosed.

About International Cannabrands Inc. (Radiko Holdings Corp.)

Radiko Holdings is a cannabidiol-focused and cannabis-focused brand portfolio, leveraging the potential of the plant by offering best of breed products that naturally complement today's consumer lifestyles. The corporation's mission is to build and market a diversified portfolio of cannabis and cannabidiol brands, with strategic manufacturing and distribution partnerships to support better earnings before interest, taxes, depreciation and amortization (EBITDA) and margins.

We seek Safe Harbor.

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