VANCOUVER, BC and TORONTO, ON / ACCESSWIRE / November 29, 2019 / Eviana Health Corporation (CSE:EHC) (the "Company") announces a further delay in the filing of its annual audited financial statements, management's discussion and analysis and related certifications for the financial year ended June 30, 2019 (the "Annual Filings").
A failure-to-file cease trade order (the "CTO") was issued by the securities regulators as of November 1, 2019 as a result of the previously announced delay in filing the Annual Filings. As previously announced, the Company made an application to the British Columbia Securities Commission (the "BCSC"), as principal regulator of the Company, for a management cease trade order ("MCTO") under National Policy 12-203 Management Cease Trade Orders in respect of the default regarding the Annual Filings. An MCTO would have resulted in only certain senior officers and directors being unable to trade in the Company's securities. However, securities regulators will only exercise their discretion to grant such an order in rare circumstances when it is requested within two weeks of a filing deadline and when certain eligibility criteria are met. The BCSC chose not to exercise such discretion in this case and accordingly all trading in the Company's securities was ordered ceased, subject to certain limited exceptions for trades outside of Canada.
Due to a number of transactions requiring additional review, the Company's audit remains ongoing at this time. The Company regrets this unnecessary delay in filing and the inconvenience to shareholders and intends to work closely with its auditor in order to file the Annual Filings as soon as possible. The Company anticipates filing its interim financial statements, management's discussion and analysis and related officer certifications for the financial period ended September 30, 2019 shortly after the Annual Filings have been filed.
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
Eviana Health Corporation
Tel: (416) 301-9654
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.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE: Eviana Health Corporation