PharmaCielo Announces Change to Financial Year-End, and Appointment of Davidson & Company LLP as Auditor Effective October 7, 2024
PharmaCielo (TSXV: PCLO) (OTC Pink: PCLOF), a Canadian company with Colombian cannabis operations, has announced two significant corporate changes. Firstly, the company has appointed Davidson & Company LLP as its new independent registered auditor, effective October 7, 2024, replacing BDO Canada LLP. This change is expected to provide enhanced audit committee oversight due to Davidson's additional capabilities and regional experience in Colombia through its international affiliate Nexia International.
Secondly, PharmaCielo will change its financial year-end from December 31 to March 31. This adjustment aims to align the company's reporting cycle with its peers. As a result, PharmaCielo will file a transitional period report with audited financial statements covering a 15-month period from January 1, 2024, to March 31, 2025. The subsequent financial year will run from April 1, 2024, to March 31, 2025.
PharmaCielo (TSXV: PCLO) (OTC Pink: PCLOF), una compagnia canadese con operazioni di cannabis in Colombia, ha annunciato due importanti cambiamenti aziendali. In primo luogo, l'azienda ha nominato Davidson & Company LLP come nuovo revisore contabile indipendente registrato, a partire dal 7 ottobre 2024, sostituendo BDO Canada LLP. Questo cambiamento è previsto per fornire una maggiore supervisione del comitato audit grazie alle ulteriori capacità e all'esperienza regionale di Davidson in Colombia tramite la sua affiliata internazionale Nexia International.
In secondo luogo, PharmaCielo cambierà la scadenza del proprio anno finanziario da 31 dicembre a 31 marzo. Questa modifica mira ad allineare il ciclo di reporting dell'azienda con quello dei suoi pari. Di conseguenza, PharmaCielo presenterà un rapporto di periodo di transizione con bilanci auditati che copriranno un periodo di 15 mesi dal 1 gennaio 2024 al 31 marzo 2025. L'anno finanziario successivo si estenderà dal 1 aprile 2024 al 31 marzo 2025.
PharmaCielo (TSXV: PCLO) (OTC Pink: PCLOF), una empresa canadiense con operaciones de cannabis en Colombia, ha anunciado dos cambios corporativos significativos. En primer lugar, la compañía ha nombrado a Davidson & Company LLP como su nuevo auditor registrado independiente, efectivo a partir del 7 de octubre de 2024, reemplazando a BDO Canada LLP. Este cambio se espera que proporcione una mejor supervisión del comité de auditoría debido a las capacidades adicionales de Davidson y su experiencia regional en Colombia a través de su afiliada internacional Nexia International.
En segundo lugar, PharmaCielo cambiará el final de su año fiscal del 31 de diciembre al 31 de marzo. Este ajuste tiene como objetivo alinear el ciclo de informes de la empresa con el de sus pares. Como resultado, PharmaCielo presentará un informe de periodo de transición con estados financieros auditados que cubrirán un periodo de 15 meses desde el 1 de enero de 2024 hasta el 31 de marzo de 2025. El siguiente año fiscal se llevará a cabo del 1 de abril de 2024 al 31 de marzo de 2025.
PharmaCielo (TSXV: PCLO) (OTC Pink: PCLOF)는 콜롬비아에서 대마 관련 사업을 운영하는 캐나다 회사로, 두 가지 중요한 기업 변경 사항을 발표했습니다. 첫째, 회사는 Davidson & Company LLP를 새로운 독립 등록 감사인으로 임명했습니다, 2024년 10월 7일부터 시행되며, BDO Canada LLP를 교체합니다. 이 변경은 Davidson이 국제 계열사 Nexia International을 통해 콜롬비아에서 보유한 추가 능력과 지역 경험 덕분에 감사위원회의 감독을 강화할 것으로 예상됩니다.
둘째, PharmaCielo는 재무 연도를 12월 31일에서 3월 31일로 변경합니다. 이 조정은 회사의 보고 주기를 동종 업체와 일치시키기 위한 것입니다. 따라서 PharmaCielo는 2024년 1월 1일부터 2025년 3월 31일까지 15개월 기간을 다룬 감사 재무제표가 포함된 전환기 보고서를 제출할 것입니다. 그 이후의 재무 연도는 2024년 4월 1일부터 2025년 3월 31일까지 진행됩니다.
PharmaCielo (TSXV: PCLO) (OTC Pink: PCLOF), une entreprise canadienne ayant des opérations de cannabis en Colombie, a annoncé deux changements d'entreprise importants. Tout d'abord, l'entreprise a nommé Davidson & Company LLP comme son nouvel auditeur enregistré indépendant, à compter du 7 octobre 2024, remplaçant BDO Canada LLP. Ce changement devrait fournir une meilleure supervision du comité d'audit grâce aux capacités supplémentaires de Davidson et à son expérience régionale en Colombie via son affiliation internationale Nexia International.
Deuxièmement, PharmaCielo changera la clôture de son exercice fiscal, qui passera du 31 décembre au 31 mars. Cet ajustement vise à aligner le cycle de reporting de l'entreprise avec celui de ses pairs. En conséquence, PharmaCielo déposera un rapport transitoire contenant des états financiers audités couvrant une période de 15 mois allant du 1er janvier 2024 au 31 mars 2025. L'exercice financier suivant s'étendra du 1er avril 2024 au 31 mars 2025.
PharmaCielo (TSXV: PCLO) (OTC Pink: PCLOF), ein kanadisches Unternehmen mit Cannabistransaktionen in Kolumbien, hat zwei wichtige Unternehmensänderungen bekannt gegeben. Erstens hat das Unternehmen Davidson & Company LLP als neuen unabhängigen registrierten Prüfer ernannt, wirksam zum 7. Oktober 2024, und ersetzt damit BDO Canada LLP. Diese Änderung wird voraussichtlich eine verbesserte Aufsicht des Prüfungsausschusses bieten, da Davidson zusätzliche Fähigkeiten und regionale Erfahrung in Kolumbien über sein internationales Tochterunternehmen Nexia International hat.
Zweitens wird PharmaCielo das Ende des Geschäftsjahres von 31. Dezember auf 31. März ändern. Diese Anpassung zielt darauf ab, den Berichtzyklus des Unternehmens an den seiner Kollegen anzupassen. Infolgedessen wird PharmaCielo einen Übergangsbericht mit geprüften Finanzberichten vorlegen, der einen Zeitraum von 15 Monaten vom 1. Januar 2024 bis zum 31. März 2025 abdeckt. Das folgende Geschäftsjahr wird vom 1. April 2024 bis zum 31. März 2025 laufen.
- Appointment of new auditor with enhanced regional experience in Colombia
- Alignment of financial reporting cycle with industry peers
- None.
All figures in Canadian dollars ($) unless otherwise specified
Toronto, Ontario and Rionegro, Colombia--(Newsfile Corp. - October 7, 2024) - PharmaCielo Ltd. (TSXV: PCLO) (OTC Pink: PCLOF) ("PharmaCielo" or the "Company"), the Canadian parent of Colombia's premier cultivator and producer of dried flower and medicinal-grade cannabis extracts, PharmaCielo Colombia Holdings S.A.S., today made two corporate announcements.
Appointment of Davidson & Company as Auditor
The Board of Directors has received the resignation of BDO Canada LLP ("BDO") as independent registered auditor of the Company on September 16, 2024, and has appointed Davidson & Company LLP ("Davidson") as the new independent registered auditor of PharmaCielo, effective October 7, 2024, until the close of the Company's next Annual General Meeting. Additional capabilities and regional experience of Davidson and its international affiliate Nexia International in Colombia will provide PharmaCielo with enhanced audit committee oversight.
There were no reservations in BDO's audit reports for any financial period during which BDO was the Company's auditor. There are no "reportable events" (as the term is defined in National Instrument 51-102 - Continuous Disclosure Obligations) between the Company and BDO. In accordance with National Instrument 51-102, the Notice of Change of Auditor, together with the required letters from BDO and Davidson, have been reviewed by the Company's Audit Committee and have been filed on SEDAR+.
Change to Financial Year-End
PharmaCielo today also announced that the Company will change its financial year end from December 31 to March 31 ("Change in Year End") to better align with the reporting cycle of its peers. The Company will file a transitional period report that will provide audited financial statements for the fifteen-month period from January 1, 2024, to March 31, 2025. The Company's next financial year will cover the period from April 1, 2024, to March 31, 2025.
About PharmaCielo
PharmaCielo Ltd. (TSXV: PCLO) (OTC Pink: PCLOF) is a global company, headquartered in Canada, with a focus on ethical and sustainable cultivating, processing and supply of all natural, pharmaceutical-grade medical dried cannabis flower and cannabis products to large channel distributors. PharmaCielo's principal (and wholly owned) subsidiary is PharmaCielo Colombia Holdings S.A.S., headquartered at its cultivation and processing center located in Rionegro, Colombia.
The board of directors and executive team of PharmaCielo are comprised of a diversely talented group of international business executives and specialists with relevant and varied expertise. PharmaCielo recognized the significant role that Colombia's ideal location plays in building a sustainable business in the medical cannabis industry, and the Company, together with its directors and executives, is executing on a business plan focused on supplying the international marketplace.
For further information
Ian Atacan, Director and Chief Financial Officer
+1 416-562-3220
i.atacan@pharmacielo.com
Media and Investor Inquires:
investors@pharmacielo.com
Forward-Looking Statements
This news release contains forward-looking statements. Forward-looking statements can be identified by the use of words such as "expects", "is expected", "intends", "anticipates", "believes", or variations of such words and phrases or state that certain actions, events or results "may" or "will" be taken, occur or be completed or achieved. Forward-looking statements in this news release include, without limitation, statements regarding the issuance of the debenture units, including the timing and completion of any future issuances thereof.
The forward-looking statements in this news release are necessarily based on assumptions, including assumptions with respect to PharmaCielo's ability to obtain necessary approvals for the issuance of the debenture units.
Forward-looking statements can be affected by known and unknown risks, uncertainties and other factors, including changes to PharmaCielo's development plans, the failure to obtain and maintain all necessary regulatory approvals relating to the export of cannabinoid products and the import of these products into other countries, TSX Venture Exchange approval, the inability to export or distribute commercial products through sales channels as anticipated due to economic or operational circumstances, risks associated with operating in Colombia, fluctuation of the market price for the Company's products, risks associated with global economic instability relating to COVID-19 or other developments, risks related to retention of key Company personnel, currency exchange risk, competition in PharmaCielo's market and other risks discussed or referred to under the heading "Risk Factors" in PharmaCielo's Annual Information Form for the financial year ended December 31, 2019, which is available at www.sedarplus.ca. Accordingly, readers should not place undue reliance on forward-looking statements. Except as required by law, PharmaCielo undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225882
FAQ
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