YourWay Cannabis Brands Inc. Applies for Management Cease Trade Order – Benzinga – Press Release


VANCOUVER, BC, May 16, 2022 /PRNewswire/ – YourWay Cannabis Brands Inc. YOUR (the “Company“) announced today that, it anticipates it may be delayed in filing its unaudited interim financial statements for the three months ended March 31, 2022 (the “Q1 Financial Statements“), the related management’s discussion and analysis and CEO and CFO certifications (collectively, the “Q1 Filings“) by the regulatory filing deadline of May 30, 2022 (the “Filing Deadline“) in accordance with National Instrument 51-102 – Continuous Disclosure Obligations. The potential late filing is the result of a number of factors, including (i) the complexity associated with a change of the Company’s auditors which took effect on December 6, 2021; (ii) changes in the personnel of the Company requiring additional time to support the auditors; and (iii) further to the Company’s press release dated May 2, 2022 and May 10, 2022, the related delay and associated complexities with respect to the completion of the Company’s audited annual consolidated financial statements for the year ended December 31, 2021. The Company will work diligently to complete the Q1 Financial Statements and anticipates that, subject to current conditions remaining the same, it will require approximately three additional weeks to complete the process of preparing the Q1 Filings and in any event will use its best efforts to complete the process within the next two months.

As a result of the anticipated delay in filing the Q1 Filings, the Company has applied to the British Columbia Securities Commission, as principal regulator of the Company, to request a management cease trade order (the “MCTO“) be issued in accordance with National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), assuming that the Company’s general “failure to file” cease trade order (the “CTO“) pursuant to National Policy 11-207 – Failure to File Cease Trade Orders and Revocations in Multiple Jurisdictions dated May 9, 2022 has been…