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Tree of Knowledge Provides Update on Filing of Financial Statements and MD&A

Monday, 31 August 2020 04:00 PM

Tree of Knowledge International Corp.

TORONTO, ON / ACCESSWIRE / August 31, 2020 / Tree of Knowledge International Inc. (CSE:TOKI) (the "Company") would like to provide an update on the status of the filing of its financial statements, accompanying management discussion and analysis and related CEO and CFO certifications for the periods ended December 31, 2019 (the "Annual Filings"), March 31, 2020 (the "Q1 Filings") and June 30, 2020 (the "Q2 Filings").

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 Ontario Securities Commission ("OSC") has enacted Instrument 51-505 - Temporary Exemption from Certain Corporate Finance Requirements ("OSC 51-505").

The Company will be relying on the temporary exemption pursuant to OSC 51-505 for its Q2 Filings in respect to the following provisions:

  • the requirement to file interim financial statements for the six month period ended June 30, 2020, 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 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 pursuant to section 5.1 of National Instrument 52-109.

The Company expects its Q2 Filings will be filed on or before the October 13, 2020 deadline. 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 currently under a filing cease trade pending filing of its Annual Filing and Q1 Filings and is continuing to work diligently and expeditiously with its auditors to file its Annual Filings. The Company anticipates that such Annual and Q1 Filings will be complete prior to the end of the current week.

In addition, the Company would like to announce that Ommid John Faghani, the current Chief Executive Officer of Tree of Knowledge, has assumed the roles of Chairman and interim Chief Financial Officer.

For further information please visit:

Or contact: Tree of Knowledge International Corp.
Ashley Villarruel, (647) 607-9044, [email protected]

About Tree of Knowledge

TOK is a public company that delivers pathways to innovative, science-based health and wellness solutions. The Company is a leader in pain management, spanning from seed to patient. Built upon an extensive network of scientific and medical research, TOK is an advanced leader in the development, processing, and distribution of focused products and treatments for pain relief. Tree of Knowledge spans the globe with its multidisciplinary pain clinics, research partners, consumer CBD products, and education and advocacy programs - all working in harmony to bring health and wellness to the world, while creating value for shareholders and partners.

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.


SOURCE: Tree of Knowledge International Inc.

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