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    AREV   CA04018M1032

AREV NANOTEC BRANDS INC.

(AREV)
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AREV Nanotec Brands : Provides Management Cease Trade Order Update

05/14/2021 | 05:43pm EDT

(via TheNewswire)



 

VANCOUVER, BC -TheNewswire- May 14, 2021 - AREV NANOTEC BRANDS INC. (CSE:AREV)(CNSX:AREV.CN)(“AREV Brands”)is providing a biweekly default status report in accordance with National Policy 12-203 - Management Cease Trade Orders ("NP 12-203").

AREV Nanotec Brands Inc. (“the Company”) did not file its audited annual financial statements and MD&A for the period ended December 31, 2020 by the filing deadline of April 29, 2021 and as a result is in default of its obligations under National Instrument 51-102Continuous Disclosure Obligations.  

The Company has requested from the applicable Canadian securities regulators that a management cease trade order related to the Company's securities be imposed against some or all of the persons who have been directors, officers or insiders of the Company. A Management Cease Trade Order was issued on May 4, 2021. This order does not generally affect the ability of persons who have not been directors, officers or insiders of the Company to trade the Company's securities.

The Company intends to satisfy the alternative information guidelines set out National Policy 12 – 203 Cease Trade Orders for Continuous Disclosure Default by filing bi-weekly Default Status Reports, as required, until such time as the financial statements and MD&A are filed.

The Company advises that there are no material changes to the information contained in the default announcement or particulars of the failure, and there is no material information concerning the affairs of the Company that has not been generally disclosed. The Company does not anticipate any subsequent defaults under National Instrument 51-102 Continuous Disclosure Obligations.    

For further information, contact Mike Withrow, mike@AREVBrands.com 778-929-6536. For more information visit arevnanotec.com.

On behalf of the Board,

Mike Withrow
CEO & Director

About AREV Nanotec Inc.

AREV Nanotec Brands Inc. (CSE: AREV) (OTC: AREVF) produces phytomedicinal extracts via its proprietary state-of-the-art extraction methodologies for the life science industry. The AREV model is to advance extraction technologies that provide opportunities for next generation phytomedicine.  AREV Nanotec is a member of BIO, the world’s largest trade association representing biotechnology companies, academic institutions, state biotechnology centers, and related organizations across the United States and in more than 30 other countries.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

FORWARD LOOKING INFORMATION

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws. This press release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements.  Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks various risk factors discussed in the Company’s Management’s Discussion and Analysis under the Company’s profile onwww.sedar.com.   

Copyright (c) 2021 TheNewswire - All rights reserved.

Copyright (c) 2021 TheNewswire - All rights reserved., source Press Releases

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Financials
Sales 2020 0,19 M 0,15 M 0,15 M
Net income 2020 -1,05 M -0,85 M -0,85 M
Net Debt 2020 0,50 M 0,41 M 0,41 M
P/E ratio 2020 -4,47x
Yield 2020 -
Capitalization 5,85 M 4,73 M 4,73 M
EV / Sales 2019 13,3x
EV / Sales 2020 31,4x
Nbr of Employees 2
Free-Float 6,16%
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Managers and Directors
NameTitle
Michael C. Withrow Chairman & Chief Executive Officer
Michael Frank Phillet Chief Financial Officer & Director
Nils Rehmann Director & Chief Science Officer
Donald Scott McDermid Independent Director
Stephane Maher Director
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