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Eat Well Investment Group Inc. Provides Management Cease Trade Order Update per National Policy 12-203
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Negative)
Tags
Rhea-AI Summary
Eat Well Investment Group Inc. (CSE: EWG, US: EWGFF) has provided an update regarding its management cease trade order (MCTO) from the British Columbia Securities Commission. The Company is working to finalize its audited financial statements for the year ended November 30, 2021, aiming to file by May 30, 2022. The MCTO restricts trading by the CEO and CFO until compliance is met but does not affect other shareholders. The Company confirms no material changes or anticipated defaults since its last announcement.
Positive
The Company is actively working to file audited annual financial statements.
No material changes have been reported since the last default announcement.
Negative
The management cease trade order (MCTO) remains in effect, restricting trading by the CEO and CFO.
Delay in filing audited financial statements could impact investor confidence.
VANCOUVER, British Columbia--(BUSINESS WIRE)--
Eat Well Investment Group Inc. (CSE: EWG) (US: EWGFF) (FSE: 6BC0) (“Eat Well” or the “Company”) is providing an update with respect to its previously announced management cease trade order (“MCTO”) issued by the Company’s principal regulator, the British Columbia Securities Commission (the “BCSC”), on March 31, 2022.
The Company and its auditors continue to work diligently to file its audited annual financial statements for the year ended November 30, 2021, the related management’s discussion and analysis and certificates of its CEO and CFO (collectively, the “Required Documents”) as soon as they are available, but in any event no later than May 30, 2022. As previously announced, pursuant to the MCTO, the Chief Executive Officer and Chief Financial Officer of the Company may not trade in securities of the Company until such time as the Company files the Required Documents and the BCSC revokes the MCTO. The MCTO does not affect the ability of other shareholders of the Company to trade in securities of the Company.
The Company is providing this bi-weekly default status report in accordance with National Policy 12-203 Management Cease Trade Orders (“NP 12-203”). Until such time as the Company files the Required Documents and the MCTO has been revoked, the Company intends to follow the provisions of the Alternative Information Guidelines set out in NP 12-203, including the issuance of bi-weekly default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.
Pursuant to the provisions of the alternative information guidelines specified in NP 12-203, the Company confirms that, as of the date of this news release: (a) there have been no material changes to the information contained in the default announcement issued on March 31, 2021 (the “Default Announcement”) that would reasonably be expected to be material to an investor; (b) there have been no failures by the Company to fulfill its stated intentions with respect to satisfying the provisions of the alternative reporting guidelines under NP 12-203; (c) there has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the Default Announcement; and (d) there is no other material information concerning the affairs of the Company that has not been generally disclosed.
To learn more, join Eat Well’s mailing list for important updates.
About Eat Well
Eat Well is a publicly-traded investment company primarily focused on high-growth companies in the agribusiness, food tech, plant-based and ESG (environmental, social and governance) sectors. Eat Well’s management team has an extensive record of sourcing, financing and building successful companies across a broad range of industries and maintains a current investment mandate on the health/wellness industry. The team has financed and invested in early-stage venture companies for greater than 25 years, resulting in unparalleled access to deal flow and the ability to construct a portfolio of opportunistic investments intended to generate superior risk-adjusted returns.
Disclaimer for Forward-Looking Statements
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable Canadian and United States securities legislation (collectively “forward-looking statements”). Forward-looking information are often, but not always, identified by the use of words such as “seek,” “anticipate,” “believe,” “plan,” “estimate,” “expect,” “likely” and “intend” and statements that an event or result “may,” “will,” “should,” “could” or “might” occur or be achieved and other similar expressions. These forward-looking statements include, but are not limited to, the expectations of management with respect to the anticipated filing of the Required Documents and the duration of the MCTO. Such forward-looking statements should not be unduly relied upon. Forward-looking information is based on assumptions that may prove to be incorrect. The Company considers these assumptions to be reasonable in the circumstances. However, forward-looking information is subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those expressed or implied in the forward-looking information. For more information on the Company, its investee companies and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.
The Canadian Securities Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.
What is the status of Eat Well Investment Group's management cease trade order?
Eat Well Investment Group Inc. is currently under a management cease trade order (MCTO) issued by the British Columbia Securities Commission, which restricts trading by the CEO and CFO until required financial statements are filed.
When is Eat Well Investment Group expected to file its financial statements?
The Company aims to file its audited financial statements for the year ended November 30, 2021, by May 30, 2022.
Have there been any material changes in Eat Well Investment Group since the last announcement?
No material changes have been reported since the last default announcement on March 31, 2021.
How does the cease trade order affect shareholders of Eat Well Investment Group?
The MCTO restricts trading by the Company's CEO and CFO but does not affect other shareholders, who can still trade in the Company's securities.
