04:37:48 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Transcanna Holdings Inc
Symbol TCAN
Shares Issued 31,765,526
Close 2020-04-03 C$ 0.83
Market Cap C$ 26,365,387
Recent Sedar Documents

Transcanna to file fiscal 2019 results by April 30

2020-04-03 16:48 ET - News Release

Mr. Steve Giblin reports

TRANSCANNA TO RELY ON TEMPORARY BLANKET RELIEF FOR REQUIRED FILINGS

Transcanna Holdings Inc. anticipates a delay in the filing of the financial statements required pursuant to Part 4 of National Instrument 51-102 (Continuous Disclosure Obligations) as a result of the completion by the company of the recent acquisitions of Tres Ojos Naturals LLC (doing business as Soldaze) and Lyfted Farms Inc. in the fall of 2019, both U.S. corporations, as new subsidiaries of the issuer.

The delay is due to the company's new management's difficulties in co-ordinating with the auditor the collection of all of the required data and documentation to complete the audit on a consolidated basis. As well, certain key persons who are needed to complete the audit are being affected by the current COVID-19 pandemic due to self-isolation requirements.

The instrument requires that the company's audited financial statements and management's discussion and analysis for the fiscal year ended Nov. 30, 2019, be filed by March 29, 2020. The company and its auditor are in the process of completing the required audit work to complete these audited financial statements and associated MD&A. The company expects that the required filings will be completed and filed on or before April 30, 2020.

In these circumstances and considering the anticipated delay in making the required filings within the time period mandated by the instrument, the company intends to rely upon the temporary blanket relief afforded by Canadian securities regulators to extend the date for the filing of the required filings for up to 45 days from the date of the original filing deadline.

During the period that the required filings remain outstanding, Transcanna's management and other insiders are subject to a trading blackout policy that reflects the principles in Section 9 of National Policy 11-207 (Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions).

The company confirms that there have been no other material business developments since Aug. 31, 2019, the date of the company's last filed third quarter interim consolidated financial statements, other than the two business acquisitions described herein.

About Transcanna Holdings Inc.

Transcanna Holdings is a California-based, Canadian-listed company, building cannabis-focused brands for the California lifestyle through its wholly owned California subsidiaries.

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