Mr. Carl Saling reports
HOLLISTER BIOSCIENCES UPDATES STATUS OF FILING ANNUAL FINANCIAL STATEMENTS
Further to Hollister Biosciences Inc.'s news releases
of June 2, 2020, and June 15, 2020, the company's principal regulator, the British Columbia Securities
Commission, granted a management cease trade order (MCTO) on June 16,
2020, under National Policy 12-203, Management Cease Trade Orders.
Pursuant to the MCTO, the chief executive officer and the chief financial officer may not trade in
securities of the company until such time as the company files its annual audited financial statements
for the year ended Dec. 31, 2019, its management's discussion and analysis, and the related certifications, and the commission revokes the MCTO. The MCTO does
not affect the ability of shareholders to trade their securities.
The company's board of directors and management confirm that they are working expeditiously to file
the required documents and confirm that since the company's news release dated June 15, 2020, there
is no other material information respecting the company's affairs that has not been generally disclosed.
Until the required documents have been filed, the company intends to continue to satisfy the
provisions of the alternative information guidelines specified in NP 12-203 by issuing biweekly default
status reports in the form of further news releases for so long as the company remains in default of the
financial statement filing requirement.
About Hollister Biosciences Inc.
Hollister is a multistate cannabis company with a vision to be the sought-after premium
brand portfolio of innovative, high-quality cannabis and hemp products.
We seek Safe Harbor.
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