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Radiko Provides Second Update on Filing Q2 Financial Statements and MD&A

·4 mins read

LOS ANGELES, CA / ACCESSWIRE / October 1, 2020 / Radiko Holdings Corp. (CSE:RDKO) (the "Company"), further to its press release dated August 27, 2020, would like to provide a second update on the status of the filing of its interim financial statements, accompanying management discussion and analysis and related CEO and CFO certifications for the period ended June 30, 2020.

On May 20, 2020, the Canadian Securities Administrators ("CSA") issued a notice stating that securities regulators will be providing coordinated relief consisting of a 45-day extension for certain periodic filings required to be made during the period of June 2, 2020 to August 31, 2020, as a result of the COVID-19 pandemic. Accordingly, the Alberta Securities Commission ("ASC") has enacted Instrument 51-519 - Temporary Exemption from Certain Corporate Finance Requirements ("ASC 51-519").

The Company will be relying on the temporary exemption pursuant to ASC 51-519 in respect to the following provisions:

  • the requirement to file interim financial statements for the six month period ended June 30, 2020 (the "Interim Financial Statements") within 60 days of the Company's second quarter as required by section 4.4(b) of NI 51-102;

  • the requirement to file management discussion and analysis (the "Interim MD&A") for the period covered by the Interim Financial Statements within 60 days of the Company's second quarter as required by section 5.1(2) of NI 51-102; and

  • the requirement to file certifications of the Interim Financial Statements (the "Certificates" and together with the Interim Financial Statements and Interim MD&A, the "Interim Filings") pursuant to section 5.1 of National Instrument 52-109.

Other than as disclosed in the Company's press releases, there have not been any material business developments since the date that the last financial statements of the Company were filed.

The Company is continuing to work diligently to be in a position to file the Interim Filings on or before October 13, 2020. In the interim, management and other insiders of the Company are subject to a trading black-out policy as described, in principle, in section 9 of National Policy 11-207 - Failure to File Cease Trade Orders and Revocations in Multiple Jurisdictions.

About Radiko Holdings

Radiko Holdings Corp., formerly International Cannabrands Inc. (RDKO) is a CBD and cannabis-focused brand portfolio, leveraging the potential of the plant by offering best of breed products that naturally complement today's consumer lifestyles. The Company's mission is to build and market a diversified portfolio of cannabis and CBD brands, with strategic manufacturing and distribution partnerships to support better EBITDA and margins. RDKO markets products with THC content where that practice has been legalized at the state level through either medicinal or recreational use. RDKO also markets products containing CBD in the US and internationally. The Company's believes as the legal cannabis and CBD markets evolve, high-quality, unique products will increasingly capture market share and provide a valuable platform for growth.

For further information:

Steve Gormley
Chief Executive Officer
Radiko Holdings Corp.
12655 W Jefferson Blvd
Los Angeles, CA, 90066
Ph: +1-(323)-828-4321 or steve@radikoholdings.com

Investor Relations Contact:

Dave Burwell
Vice President
The Howard Group
#350, 318 - 11 Avenue SE
Calgary, AB T2G 0Y2
Ph: +1-(403)-221-0915 or dave@howardgroupinc.com

Media Inquiries: media@radikoholdings.com

Forward Looking Statements

Except for statements of historical fact relating to the Company, certain information contained herein relating to the timing of the filing of financial statements constitutes forward-looking statements. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. Except as required by applicable securities laws, the Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

SOURCE: Radiko Holdings Corp.



View source version on accesswire.com:
https://www.accesswire.com/608819/Radiko-Provides-Second-Update-on-Filing-Q2-Financial-Statements-and-MDA