An anonymous director reports
CDB GLOBAL SCIENCES INC. ANNOUNCES FURTHER UPDATE TO ITS FILING ANNUAL AND FIRST QUARTER FINANCIAL STATEMENTS AND MD&A DUE TO COVID-19
Further to its news release dated April 28, 2020, CBD Global Sciences Inc. is expecting to file its audited financial statements and management's discussion and analysis for the year ended Dec. 31, 2019, by the extension date of June 16, 2020, pursuant to exemptive relief granted by Canadian securities regulatory authorities that allows it to delay the filing of its annual documents required by sections 4.2 and 5.12(2) of National Instrument 51-102. In response to the coronavirus disease pandemic, securities regulatory authorities in Canada have granted a blanket exemption allowing issuers an additional 45 days to complete their regulatory filings.
The Company does not believe that it will be able to file its interim financial statements and management discussion and analysis for the period ended March 31, 2020 (the "Interim Filings") by their usual 60-day deadline of May 30, 2020, and will be relying on the temporary 45-day extension pursuant to NI 51-502.
The Company is continuing to work diligently to file the Interim Filings by July 14, 2020. The Company's management and other insiders will be subject to a trading black-out that reflects the principles in Section 9 of National Policy 11-207 until its Annual and Interim Filings are filed, which will be by June 16, 2020 and July 14, 2020, respectively.
Other than as previously disclosed by the Company in news releases, including the information herein, there are no other material business developments since April 28, 2020, the date of the Company's news release announcing the delay in filing of the Annual Filings.
ABOUT CBD GLOBAL SCIENCES INC.
CBD Global Sciences Inc., is a vertically integrated hemp-based CBD producer, extractor, and branding investment vehicle which currently owns two product categories, branded under the name AETHICS (www.aethics.com) and CANNAOIL (www.cannaoilshop.com), which include CBD Oil tinctures (liquid products), CBD capsules, CBD topicals and CBD hydration products. CBD Global's hemp-derived CBD extracts are sold through select distributors, brick and mortar retailers, and online.
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