VANCOUVER, BC, Sept. 20, 2022 /CNW/ - HAVN Life Sciences Inc. (CSE: HAVN) (OTC: HAVLF) (FSE: 5NP) (the "Company" or "HAVN Life") announces that the board of directors of the Company (the "Board"), on the advice of the Company's Chief Financial Officer, has determined that the Company is no longer a going concern as it is unable to meet its financial obligations as they come due.
A restructuring plan is being put together by the Board, and the Company is actively pursuing financing. There is no assurance that the restructuring will be successful or that the Company will be able to secure a new source of financing.
About HAVN Life Sciences Inc.
HAVN Life Sciences is a biotechnology company pursuing standardized extraction of psychedelic compounds for the creation of APIs, the development of natural health products, and innovative therapies to support brain health.
Through its research division, HAVN Labs, the company has developed an end-to-end supply chain of standardized, naturally derived psychedelic compounds for research that will define the future of modern medicine. With its new line of natural health products, HAVN Life offers a full range of high-quality mushroom and plant extracts that help boost immune function, reduce inflammation and support a healthy lifestyle.
Forward-Looking Information: This news release contains "forward-looking information" within the meaning of applicable securities laws relating to statements regarding the restructuring plan, including, without limitation, pursuit of future financings, the Company's business, products and future of the Company's business. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking information. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements depending on, among other things, the risk that the Company will not be able to effect the restructuring plan, including, without limitation, obtain future financing(s), that the Company will not be able to ever establish its operations as a going concern, and that the plans will vary from those stated in this news release and the Company may not be able to carry out its business plans as expected. Other factors, which could materially affect such forward-looking information are described in the risk factors in the Company's most recent management's discussion and analysis and annual information form, which are available on the Company's profile on SEDAR at sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements included in this news release are expressly qualifying by this cautionary statement. The forward-looking statements and information contained in this news release are made as of the date hereof and except as required by law, the Company expressly disclaims any obligation and does not intend to update any forward-looking statements or forward-looking information in this news release. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. The statements in this news release are made as of the date of this release.
The CSE has not reviewed, approved or disapproved the content of this press release.
SOURCE HAVN Life Sciences Inc.
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