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YourWay Cannabis Brands Inc. (OTCQB:YOURF) (CSE:YOUR) announced that, due to a combination of factors, including the complexity associated with a change of the company's auditors which took effect on December 6, 2021; and changes in the personnel of the company requiring additional time to support the auditors, the filing of its audited annual financial statements for the year ended December 31, 2021, the related management's discussion and analysis and CEO and CFO certifications will not be completed by the prescribed deadline of May 2, 2022.
As announced on April 29, 2022, the company applied to the British Columbia Securities Commission for the issuance of a management cease trade order in connection with the company's anticipated delay in filing the annual filings. This application was rejected and as such, the company expects that a failure to file cease trade order pursuant to National Policy 11-207 – failure to file cease trade orders and revocations in multiple jurisdictions will be imposed against the company shortly after the filing deadline, which will prohibit the trading by any person of any securities of the company in Canada, including trades in the company's common shares made through the Canadian Securities Exchange. Once issued, the CTO will remain in place until such time as the annual filings are filed by the company, currently expected before May 31, 2022.
The company confirms that there is no insolvency proceeding against it and there is no other material information concerning the affairs of the company that has not been generally disclosed.
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