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EXMceuticals inc. applies for a for a voluntary management cease trade order

VANCOUVER, British Columbia, Oct. 23, 2019 (GLOBE NEWSWIRE) -- EXMceuticals Inc. (CSE: EXM) (FSE: A2PAW2) (the “Company” or “EXM”) announces that it has applied for a voluntary management cease trade order in accordance with National Policy 12-203 due to it not being able to file its annual financial statements and MD&A for the year ended June 30, 2019 on SEDAR within 120 days of its financial year-end.

The Company requires additional time to file its annual financial statements and MD&A for the financial year ended June 30, 2019 due to this being the first annual financial statements of the consolidated company following an RTO and additional time is required to complete the review and procedures.  As a result, the Company concluded that it would not be in a position to complete the year-end audit within the time periods required by National Instrument 51-102.  The Company currently anticipates that it will be in a position to file its annual financial statements and MD&A for the year ended June 30, 2019 on or before December 28, 2019.

The Company intends to satisfy the provisions of the alternative information guidelines of National Policy 12-203 until the revocation of the management cease trade order.  The Company is not subject to any insolvency proceedings.

ON BEHALF OF THE BOARD OF DIRECTORS OF EXMCEUTICALS INC.

Michel Passebon, Chief Executive Officer and Director

For further information contact:
Investor Relations
Email: investors@exmceuticals.com

Media Enquiries:
Email: media@exmceuticals.com
Europe - Jane Glover:  +44 (0) 203 757 4990
North America - Mélanie Guillemette: +1 819 668 2734

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