Mr. Bin Huang reports
SPEAKEASY UPDATES ON STATUS OF FILING ITS INTERIM CONSOLIDATED FINANCIAL STATEMENTS AND MD&A
Speakeasy Cannabis Club Ltd. is providing an update on the status of the filing of its interim financial statements and accompanying management's discussion and analysis, and related chief executive officer and chief financial officer certificates for the financial period ended Jan. 31, 2020, which are required to be filed by March 31, 2020, under National Instrument 51-102 (Continuous Disclosure Obligations).
On March 18, 2020, the Canadian Securities Administrators (CSA) announced that it will provide issuers with a 45-day filing extension for filings required on or before June 1, 2020, to allow issuers the time needed to focus on the many other business and financial reporting implications of COVID-19. The company will rely on this exemption with respect to the quarterly filings in accordance with B.C. Instrument 51-515 (Temporary Exemption from Certain Corporate Finance Requirements).
The company is continuing to work diligently and expeditiously to file the quarterly filings, and currently expects to have them filed on or prior to the extended timeline. In the interim, management and other insiders of the company 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 since the filing of its condensed interim consolidated financial statements for the three months ended Oct. 31, 2019, there have been no material business developments other than those that have been publicly disclosed as required under applicable securities laws.
About Speakeasy Cannabis Club Ltd.
Speakeasy Cannabis Club holds a cultivation, processing and sales licence issued by Health Canada under the Cannabis Act. Speakeasy owns 290 acres of land in Rock Creek, B.C., and leverages three generations of farming experience in British Columbia, as well as its favourable location to grow and process high-quality cannabis products at low cost. Speakeasy cultivates small-batch, high-quality craft cannabis in its 10,000-square-foot indoor facility and has recently completed the development of its 60-acre outdoor field. The company's intention, upon receipt of an amendment to its current licence to include the outdoor cultivation area, is to produce approximately 70,000 kilograms of outdoor, sun-grown cannabis in 2020.
We seek Safe Harbor.
© 2021 Canjex Publishing Ltd. All rights reserved.