[ad_1]
Denver, Colorado – 
Sciences Inc. (CSE: CBDN) (the “Corporation“)
further to its press releases dated May 14, 2021, May 28, 2021, and June 15, 2021,
provides this fourth bi-weekly default status report in accordance with
National Policy 12-203 – Cease Trade Orders for Continuous Disclosure
Defaults (“NP 12-203”). In the Corporation’s initial default
announcement of April 14, 2021 (the “Default Notice”), the Corporation
announced the delay in the filing of its audited annual financial statements
for the year ended December 31, 2020 (the “Annual Financial Statements”)
and related management’s discussion and analysis and CEO and CFO certifications
(collectively, the “Annual Filings”) by the prescribed filing deadline.
As
previously announced in the Corporation’s press releases, the Corporation
applied for and was granted a management cease trade order in respect of the
delayed Annual Filings (the “MCTO”) by the Alberta Securities Commission. The MCTO
prohibits the chief executive officer and the chief financial officer from
trading in the Corporation’s securities for so long as there are filings that
are outstanding under applicable securities laws. The MCTO does not affect the
ability of the general investing public to trade in the Corporation’s listed
common shares.
The
audit of the Annual Financial Statements is in progress and the Corporation
expects to file the Annual Filings on or before July 15, 2021, which is the updated date
that the Alberta Securities Commission has informed the Corporation that the
MCTO will stay in effect until.
The
Corporation confirms that since the Default Notice: (i) there is no material
change to the information set out in the Default Notice that has not been
generally disclosed; (ii) there has been no failure by the Corporation in
fulfilling its stated intentions with respect to satisfying the provisions of
the alternative information guidelines set out in NP 12-203; (iii) there has
not been any other specified default by the Corporation under NP 12-203; and
(iv) there is no other material information concerning the affairs of the Corporation
that has not been generally disclosed.
Furthermore,
the Corporation anticipates that its interim financial statements for the three
months ended March 31, 2021, the accompanying management’s discussion and
analysis and the related CEO and CFO certifications will not be filed by the
prescribed filing deadline and will be filed after the Annual Filings are
completed and filed.
The
Corporation will continue to comply with the provisions of the alternative
information guidelines under NP 12-203 by issuing bi-weekly default status
reports in the form of news releases for so long as it remains in default of
the filing requirements set out above.
ABOUT
CBD GLOBAL SCIENCES INC.
CBD
Global Sciences Inc., is a vertically integrated hemp-based CBD producer, extractor,
and branding investment vehicle which currently owns two product categories,
branded under the name AETHICS (www.aethics.com) and CANNAOIL (www.cannaoilshop.com),
which include CBD Oil tinctures (liquid products), CBD capsules, CBD topicals
and CBD hydration products. CBD Global’s
hemp-derived CBD extracts are sold through select distributors, brick and
mortar retailers, and online.
CBD
Global Sciences, through its wholly owned subsidiary, Strasburg Pharms, grows
and operates irrigated land in Colorado that grows hemp with only all-natural
Colorado water, soil, sun and nutrients that is NEVER sprayed with pesticides
or chemicals. Our genetics are hand selected and maintained to present
the best cannabinoid profile with extremely high CBD.
For further
information, please contact Investor Relations, info@cbdglobalsciences.com.
NEITHER THE CANADIAN SECURITIES EXCHANGE
NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPT RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS RELEASE.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to future developments and the business and operations of the Corporation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political and social uncertainties; and delay or failure to receive board, shareholder or regulatory approvals. Readers should not place undue reliance on forward-looking statements. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
View the original release on www.newmediawire.com
[ad_2]