NEPRA FOODS INC - NPRFF STOCK NEWS

Nepra Foods Inc. (CSE:NPRA, OTC Pink:NPRFF) has provided an update on the filing of its audited financial statements for the fiscal year ended March 31, 2024. The company is experiencing additional delays in finalizing the audit due to scheduling and staffing issues. Nepra now expects to file the Required Documents by August 30, 2024.

The company is currently under a management cease trade order (MCTO) issued by the British Columbia Securities Commission on July 30, 2024. This MCTO restricts the CEO and CFO from trading company securities until the Required Documents are filed and the MCTO is revoked. Other shareholders' ability to trade remains unaffected.

Nepra Foods confirms that there have been no material changes to the information in the default announcement issued on August 2, 2023, and the company continues to comply with the alternative reporting guidelines under National Policy 12-203.

William Hogan has been appointed as the Chief Executive Officer and director of Nepra Foods Inc. (CSE:NPRA) effective August 9, 2024. Hogan owns or controls 37,285,572 common shares and 10,840,000 warrants, representing approximately 41.84% of outstanding shares on a partially diluted basis. This accounts for about 35.02% when considering the conversion of all Class A multiple voting shares. Hogan's appointment is for business purposes, and he may acquire or dispose of additional securities depending on market conditions and Nepra's prospects. An Early Warning Report will be filed on SEDAR+ in compliance with National Instrument 62-103.

Nepra Foods Inc. (CSE:NPRA, OTC PINK:NPRFF) has appointed William (Billy) Hogan as its new Chief Executive Officer and director, effective August 9, 2024. Hogan succeeds Chadwick White, who transitions to the role of Chief Visionary Officer. This strategic move aims to leverage Hogan's extensive experience in CPG brand management and E-commerce, as well as his recent significant financial investment in the company.

Hogan brings a proven track record of operational leadership and strategic planning, having managed over $100 million in product sales in the past five years. This appointment is expected to position Nepra Foods for expansion with a focused, results-oriented approach. Meanwhile, White will continue to focus on the company's core strengths in developing gluten-free bakery products with improved texture and taste, formulated with plant-based proteins and fibers.

Nepra Foods Inc. (CSE:NPRA)(OTC PINK:NPRFF), a leading ingredient supplier to the gluten-free bakery industry, has shared an update on its business status. The company has resolved its Cease Trade Order issues and is now in the final stages of filing financial statements for the year ending March 31, 2024. Despite challenges, Nepra has grown its business and strengthened customer relationships. The company has appointed Billy Hogan as CEO, bringing in new capital and expertise. Nepra continues to advance in ingredient and recipe formulation, expanding into new markets and adding customers. The company is scaling up its manufacturing capabilities, particularly in hemp protein production. Nepra is also positioning itself as a cornerstone hemp food resource, developing relationships with key hemp companies globally.

Nepra Foods Inc. (CSE:NPRA, OTC Pink:NPRFF) has announced a delay in filing its annual financial statements for the year ended March 31, 2024. The company missed the required filing deadline of July 29, 2024, due to capacity issues with its auditor. These issues stemmed from the company's previous focus on completing outstanding filings, which were submitted on May 1, 2024.

Nepra Foods expects to file the Annual Filings by August 29, 2024. In response to the delay, the company has received a management cease trade order against its CEO and CFO. Nepra Foods commits to providing bi-weekly status updates in accordance with National Policy 12-203 until the Annual Filings are submitted.

Nepra Foods Inc. (CSE:NPRA, FSE:2P6, OTC PINK:NPRFF) has announced the resumption of trading for its common shares on the Canadian Securities Exchange. This development follows the company's previous press release dated July 8th, 2024. The resumption of trading is a significant event for Nepra Foods, as it allows investors to once again buy and sell the company's shares on the CSE platform.

Nepra Foods Inc. (CSE:NPRA)(FSE:2P6)(OTC PINK:NPRFF) has closed its previously announced debt conversion transaction, converting US$970,551 of outstanding debt into 26,445,572 common shares. The issued shares are subject to a four-month statutory hold period ending November 24, 2024. These shares are considered 'restricted securities' under U.S. securities laws and have not been registered under the U.S. Securities Act. The transaction involved insider shareholder William Hogan, constituting a 'related party transaction' under MI 61-101. The company relied on exemptions from formal valuation and minority approval requirements, citing serious financial difficulty and the transaction's aim to improve its financial position.

Nepra Foods (CSE:NPRA, OTC PINK:NPRFF) has announced a US$950,000 debt conversion and board changes. The company has agreed with lender William Hogan to convert outstanding loan obligations of US$970,551 into 26,445,572 common shares at C$0.05 per share. This conversion will eliminate all existing security held by the lender and discharge Nepra's obligations under the loan agreement.

The conversion is considered a 'related party transaction' as the lender is an insider shareholder. Nepra is relying on exemptions from formal valuation and minority approval requirements. The board of directors has unanimously determined that the company is in serious financial difficulty and that this transaction is designed to improve its financial position.

Additionally, Mark Olmsted has resigned as a director of the company, effective July 12, 2024.

Nepra Foods has announced the full revocation of its failure-to-file cease trade order (CTO) by the British Columbia Securities Commission and the Ontario Securities Commission, effective July 5, 2024. The CTO, issued on October 6, 2023, resulted from Nepra's failure to file essential financial documents for the periods ending March 31, 2023, and June 30, 2023. The company completed these filings on May 1, 2024, and expects trading of its common shares on the Canadian Securities Exchange to resume shortly. Despite the CTO, Nepra Foods has maintained its business operations throughout this period.