VANCOUVER, British Columbia, Nov. 28, 2019 (GLOBE NEWSWIRE) -- PRIMO NUTRACEUTICALS INC. (CSE:PRMO) (BUGVF) (8BV.F) (8BV.F) (8BV.MU) (8BV.SG) ("Primo" or the "Company") 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 July 31, 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 July, 2019 due to this being the first annual financial statements of the consolidated company following an amalgamation 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 July 31, 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
PRIMO NUTRACEUTICALS INC.
Andy Jagpal, President and Director
For further information, please contact Zoltan, IR Representative at: 604-722-0305 email@example.com. Or toll free at 1-877-517-7816.
FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements within the meaning of Canadian securities laws. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
No regulatory authority has approved or disapproved the information contained in this news release.