LANDSDOWNE, ON,
In light of a delay in the preparation of the interim filings as a result of a contractual dispute between the Company and the financial services company that assists the Company with finance-related consulting services regarding the delayed payment of fees (the "Consultant"), the Company has determined that it will not be able to complete the preparation and filing of the Interim Filings by the Filing Deadline. The Company continues to engage in active discussions with the Consultant in order to agree to an amicable resolution. Management of the Corporation anticipates that the Interim Materials will be Filings as soon as possible, and in any event no later than
The Company is providing this default announcement in accordance with National Policy 12-203 – Management Cease
The Company intends to follow the provisions of the Alternative Information Guidelines set out in NP 12-203, including the issuance of bi-weekly default status reports in the form of news releases, for as long as the Company remains in default. The Company confirms as of the date of this news release 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.
www.molecule.ca
Molecule is a licensed producer dedicated to creating cannabis-infused beverages for the Canadian market. We produce leading, top-quality drinks to provide opportunity and choice to people seeking a convenient and social way to consume cannabis. Molecule is focused on growing both our portfolio, and the overall cannabis beverage market. We want to ensure people have the best opportunity to find exactly the product and experience they thirst for.
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this press release.
This press release contains statements that constitute "forward-looking information" ("forward-looking information") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions. Forward-looking information in this press release includes the Company's belief of a delay in filing of the Interim Filings by the Filing Deadline; the ability to complete the preparation and filing of the Interim Filings; the resolution of the dispute being the Company and the Consultant; the timing for completion and filing of the Interim Filings, if at all; the potential issuance of the MCTO by the
The Company's actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, and other factors, many of which are beyond the control of the Company. Specifically, there are risks that: the Interim Filings may not be completed on the terms and timing described herein or at all; the dispute between the Company and the Consultant is not resolved; the
The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents the Company's expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
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