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Zoglo's misses 2021 financial filing deadline

2022-05-09 14:02 ET - News Release

Mr. Anthony Morello reports

ZOGLO'S INCREDIBLE FOOD LATE TO FILE 2021 RESULTS

Zoglo's Incredible Food Corp.'s annual financial statements for the year ended Dec. 31, 2021, including the related management discussion and analysis, and chief executive officer and chief financial officer certifications, were not filed by the required filing deadline of May 2, 2022.

The annual financial filings were not filed on or before the filing deadline due to the nature of the business of the company, the location of the company's subsidiaries and the COVID-19 pandemic. The company has been advised by its auditor, Baker Tilly Canada Cooperative, that it needs more time to complete the audit. The company is working on the steps required to complete the annual financial filings and expects to be able to file the annual financial filings by May 13, 2022. The company will provide updates as further information relating to the annual financial filings becomes available.

The company was informed by the Ontario Securities Commission that it was not eligible for a management cease trade order under National Policy 12-302, Cease Trade Orders for Continuous Disclosure Defaults, and, accordingly, the OSC issued a failure-to-file cease trade order (CTO) under National Policy 11-207, Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions, affecting all the company's securities following the deadline.

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 Zoglo's Incredible Food Corp.

Zoglo's Incredible Food is a publicly traded plant-based food company that offers nutrient-rich, plant-based appetizers, veggies and meat substitutes to fulfill consumers' needs for all occasions and cooking requirements. The company's wholly owned subsidiary, Zoglo's Incredible Food Inc., currently offers 14 products through its Traditional Green Box product line and aims to offer 12 innovative products for the mainstream market through its new Zoglo's Incredible Black Box product line. Over the past 25 years, Zoglo's products have been in distribution in over 1,300 retail stores across Canada, including Walmart, Shoppers Drug Mart, Sobeys and Loblaws, and has representation in the United States and Europe. The company trades on the Canadian Securities Exchange under the ticker ZOG and on the Frankfurt Stock Exchange under the ticker 7UT.

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