EDMONTON, Alberta, May 04, 2020 (GLOBE NEWSWIRE) -- Alcanna Inc. (the “Company” or “Alcanna”) (CLIQ.TO) today announced that the filing of its first quarter 2020 financial statements, MD&A and related filings would be postponed in accordance with relief granted by the Canadian Securities Administrators and the Alberta Securities Commission.
Q1 2020 FINANCIAL REPORT
Alcanna will utilize the relief granted by the Canadian Securities Administrators and the Alberta Securities Commission Blanket Order 51-517 - Temporary Exemption from Certain Corporate Finance Requirements in respect of its interim financial report for the first quarter of 2020, the associated management's discussion and analysis and related filings for such period, which it anticipates filing on or before June 28, 2020. The blanket relief provides for up to a 45-day extension for periodic filings normally required to be made by reporting issuers during the period from March 23, 2020 to June 1, 2020.
Alcanna confirms that there have been no material business developments since March 12, 2020, being the date of filing of the Company's audited consolidated financial statements for the years ended December 31, 2019 and 2018.
In connection with Alcanna's reliance on the foregoing relief, management and other insiders are subject to an insider 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.
ABOUT ALCANNA INC.
Alcanna is one of the largest private sector retailers of alcohol in North America and the largest in Canada by number of stores – operating 258 locations in Alberta, British Columbia and Alaska. The Company also operates 31 cannabis retail stores under the “Nova Cannabis” brand, with thirty locations in the Province of Alberta and one in the Province of Ontario. With revenues in excess of $800 million per year, Alcanna processes over 20 million individual retail transactions of beverage alcohol and cannabis.
Alcanna's common shares and convertible subordinated debentures trade on the Toronto Stock Exchange under the symbols "CLIQ" and "CLIQ.DB", respectively.
For Further Information
Vice Chair and Chief Executive Officer