- Filing of business acquisition reports (collectively, the “Business Acquisition Reports”) in connection with the acquisitions of
Artisan Growers Ltd. ,Novo Formulations Ltd. andTassili Life Sciences Corp.
- Revocation of the initial cease trade order issued by the Commission on
June 19, 2020 .
- Preparation of financial disclosure in connection with the acquisition of
AltMed Capital Corp. (“AltMed”). Compilation of the statements is at an advanced stage, and the Company expects this work to be concluded shortly.
Continuous Disclosure Review
On
In connection with the review, on
The Business Acquisition Reports were filed by the Company on
The Company previously filed a Material Change Report on
Prior to finalization of a revised Material Change Report, the Company is required to finalize the accounting treatment for the acquisition of AltMed. The Company has concluded, in discussions with its external auditor and accounting advisors, that the acquisition of AltMed should be treated as a reverse-takeover in accordance with IFRS 3 – Business Combinations. As a result of this conclusion, AltMed is treated as the acquiror for accounting purposes and the Company is in the process of compiling the financial statements of AltMed for the six-month period ended
The Company remains committed to working with the Commission to assist in completion of the review and revocation of the Replacement Order in a timely fashion. Compliance with its continuous disclosure obligations remains of paramount importance to the Company, and its board of directors, and the Company will continue to update shareholders as work with the Commission progresses.
ON BEHALF OF THE BOARD OF DIRECTORS
Dr.
Chief Executive Officer
E: info@champignonbrands.com
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The Canadian Securities Exchange and its Information Service Provider have not reviewed and do not accept responsibility for the accuracy or adequacy of this release.
Forward-looking Information Cautionary Statement
This news release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance are “forward-looking statements.” Forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events, or developments to be materially different from any future results, events or developments expressed or implied by such forward looking statements. Such risks and uncertainties include, among others, the Company’s ability to finalize financial disclosure surrounding the acquisition of AltMed and meet the requirements prescribed for the revocation of the Replacement Order. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although the Company has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which are available at www.sedar.com. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company has no obligation to update any forward-looking statement, even if new information becomes available.
Source:
2020 GlobeNewswire, Inc., source