VANCOUVER, BC and TORONTO, ON / ACCESSWIRE / October 29, 2019 / Eviana Health Corporation (CSE:EHC) (the "Company") announced today that it anticipates the filing of its annual financial statements, management's discussion and analysis and related officer certifications for the financial year ended June 30, 2019 (collectively, the "Annual Filings") will be delayed beyond the required filing deadline under Parts 4 and 5 of National Instrument 51-102 Continuous Disclosure Obligations and pursuant to National Instrument 52-109 Certification of Disclosure in Issuer's Annual and Interim Filings, being today, October 28, 2019 (the "Filing Deadline").
Due to a number of transactions requiring additional review, the Corporation's audit remains ongoing at this time. As a result, the Corporation has determined that it will not be able to complete the audit and file the Annual Filings by the Filing Deadline. The Corporation intends to work closely with its auditor and expects to file the Annual Filings as soon as possible, and in any event no later than November 29, 2019. The Corporation does not anticipate any delay in filing its interim financial statements, management's discussion and analysis, and the related officer certifications for the financial period ended September 30, 2019.
The Corporation is providing this default announcement in accordance with National Policy 12-203 Management Cease Trade Orders ("NP 12-203"). The Corporation has made an application to the British Columbia Securities Commission, as principal regulator of the Corporation, for a management cease trade order ("MCTO") under NP 12-203 in respect of the anticipated default regarding the Annual Filings. The granting of the MCTO is at the discretion of the British Columbia Securities Commission. The issuance of the MCTO generally will not affect the ability of persons who have not been directors, officers or insiders of the Corporation to trade in their securities. In the event that the MCTO is granted, it will be in effect until the default is remedied.
The Corporation intends to follow the provisions of the Alternative Information Guidelines set out in NP 12-203, including the issuance of bi-weekly default status reports in the form of news releases, for as long as the Corporation remains in default. The Corporation confirms as of the date of this news release that there is no insolvency proceeding against it and there is no other material information concerning the affairs of the Corporation that has not been generally disclosed.
About Eviana Health Corporation
The Company was established with the aim of delivering customized consumer health care products using natural hemp strains of cannabis sativa for cannabinoid-based topical creams, products and cosmeceutical and nutraceutical merchandise. The Company's wholly owned subsidiary, Eviana Inc., an Ontario corporation, holds certain assets in Serbia relating to the cultivation of industrial hemp plant oil for the pharmaceutical, nutraceutical and cosmeceutical industry, and has access to a significant grower/supplier of cannabinoids including two subsidiaries, Intiva Plus, d.o.o. and Eviana d.o.o.
FOR FURTHER INFORMATION PLEASE CONTACT:
Avram Adizes, CEO
Tel: (416) 301-9654
Eviana Health Corporation
This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is 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 information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's publically filed disclosure. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information. The CSE has not reviewed, approved or disapproved the contents of this press release.
SOURCE: Eviana Health Corporation