Ms. Margot Micallef reports
GABY ADVISES FURTHER ON FILING OF FISCAL 2019 AND 2020 Q1 RESULTS
Gaby Inc. has provided an additional update with respect to the management cease trade order (the MCTO) issued by the Alberta Securities Commission on June 17, 2020. The MCTO was issued in connection with the filing of its annual financial statements, management's discussion and analysis, and related officer certifications for the financial year ended Dec. 31, 2019. The MCTO does not affect the ability of shareholders who are not insiders of the company to trade their securities.
The Alberta Securities Commission has granted an additional extension to the MCTO due to the continued impact of COVID-19. This has caused a delay in the year-end audit work in that Gaby's auditor is based in Vancouver, B.C., and Gaby's head office and operations are located in California. Fieldwork delays have resulted from the inability to travel to Gaby's California office due to the continued closure of the United States/Canada border and the rollback of business openings in California, civil unrest, and concerns around safety.
As such, and as per the updates provided on July 3, 2020, and July 15, 2020, Gaby continues to work diligently and expeditiously with its auditor on the steps required to complete the annual filings and anticipates filing the annual filings on or before Aug. 15, 2020. The interim financial statements, management's discussion and analysis, and related officer certifications for the three-month period ended March 31, 2020, will also be filed on or before Aug. 15, 2020.
The company is providing this status update in accordance with the provisions of the alternative information guidelines set out in National Policy 12-203 (Management Cease Trade Orders).
About Gaby Inc.
Gaby is a U.S.-focused, consumer packaged goods company, operating a family of brands in the cannabis industry and in the mainstream grocery channel. Through its subsidiaries, Gaby indirectly holds licences and permits issued by the California Department of Health, the California Bureau of Cannabis Control and the County of Sonoma for manufacturing and distribution, licence applications pending for cultivation, and nursery licences with the California Department of Food and Agriculture. With these licences and permits to operate in the cannabis channel and its existing infrastructure of major retailers and an extensive broker and distribution network in the mainstream channel, Gaby has brought a number of its proprietary, acquired and third party brands to market in both the licensed and mainstream market.
Margot and her sister Gabriella co-founded Gaby after Gabriella received a dire cancer diagnosis, which spurred the sisters to prolong Gabriella's life through a holistic approach to health. Today, Gaby is a wellness company with a diverse range of products that use cannabis, hemp and hemp-derived cannabinoids to address a variety of dietary and health concerns. Although Gabriella ultimately passed away from her illness, she lived exponentially longer than doctors predicted. Her memory and passion live on through Gaby's mission: to empower people to live healthy lives without compromise.
We seek Safe Harbor.
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