C21 Investments Provides MCTO Status Update
C21 Investments Provides MCTO Status Update
Vancouver, British Columbia--(Newsfile Corp. - June 23, 2022) - C21 Investments Inc. (CSE: CXXI) (OTCQX: CXXIF) ("C21" or the "Company"), a vertically integrated cannabis company, is providing a default status report in accordance with the alternative information guidelines set out in National Policy 12-203 - Management Cease Trade Orders ("NP 12-203").
温哥華，不列顛哥倫比亞省-(Newsfile Corp.-2022年6月23日)-C21投資公司(CSE：CXXI)(OTCQX：CXXIF) ("C21“或”公司“)，一家垂直整合的大麻公司，正在根據國家政策12-203規定的替代信息指南提供違約狀態報告-管理層停止交易令 ("NP 12-203").
As previously announced on May 30, 2022 (the "Announcement"), the Company applied for a management cease trade order ("MCTO") from the British Columbia Securities Commission (the "BCSC") due to an expected delay in filing of the audited consolidated financial statement for the year ended January 31, 2022, annual management's discussion and analysis for the same period and management certifications of annual filings (collectively, the "Annual Filings") beyond the deadline of May 31, 2022 prescribed by Canadian securities laws. The MCTO was granted by the BCSC on June 1, 2022. The MCTO prohibits the Company's management from trading in the securities of the Company until such time as the Annual Filings are filed. The MCTO does not affect the ability of any other shareholders of the Company to trade securities of the Company.
如先前於2022年5月30日宣佈的(“公告)，本公司申請管理停止交易令(“MCTO“)來自不列顛哥倫比亞省證券委員會(”BCSC)由於截至2022年1月31日的年度經審核綜合財務報表的提交預計將延遲，年度管理層同期的討論和分析以及年度報告的管理認證(統稱為年度提交文件“)在加拿大證券法規定的2022年5月31日的最後期限之後。MCTO於2022年6月1日由BCSC批准。MCTO禁止公司管理層在提交年報之前交易公司的證券。MCTO不影響公司任何其他股東交易公司證券的能力。
C21 and its auditors continue to work diligently toward completing the Annual Filings as soon as possible. The ongoing auditor review is primarily addressing non-operational derivative accounting and certain other non-cash items for restatement of previous periods. Upon completion of the auditor's internal review process, the Annual Filings will be filed on SEDAR ().
C21及其審計師繼續勤奮工作，爭取儘快完成年報。正在進行的審計師審查主要針對非營業衍生工具會計和某些其他非現金項目，以重述以往期間的財務報表。在完成審計師的內部審查程序後，年度申報文件將在SEDAR()上提交。
The Company confirms that since the date of the Announcement: (i) there has been no material change to the information set out in the Announcement that has not been generally disclosed; (ii) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the "alternative information guidelines" under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Annual Filings is continuing, each of which will be issued in the form of a news release; (iii) there has not been any other specified default by the Company under NP 12-203; (iv) the Company is not subject to any insolvency proceedings; and (v) there is no material information concerning the affairs of the Company that has not been generally disclosed.
本公司確認，自公告日期起：(I)公告所載資料並無重大變動，而該等資料並未作一般披露；(Ii)本公司感到滿意，並確認其有意繼續遵守NP 12-203項下的“另類資料指引”的規定，只要提交年報的延遲持續，本公司將每兩週發佈一次失責狀況報告，每份報告將以新聞稿形式發佈；(Iii)本公司並無根據NP 12-203作出任何其他指明的失責行為；(Iv)本公司並無進行任何破產程序；及。(V)並無任何有關本公司事務的重大資料未予全面披露。
Update on Interim Financials
關於臨時財務的最新情況
As a result of the delay in filing the Annual Filings, the Company also announces that the filing of its unaudited interim financial statements for the three-months ended April 30, 2022, the management's discussion and analysis for the same period and management certifications of interim filings (collectively, the "Interim Filings"), will be delayed beyond the filing deadline of June 29, 2022. The Company is working to complete the Interim Filings as soon as possible and expects the Interim Filings to be filed following the Company's filing of the Annual Filings.
由於延遲提交年報，本公司亦宣佈，截至2022年4月30日止三個月的未經審核中期財務報表的提交、管理層同期的討論及分析及中期文件的管理證明(統稱為“臨時申請“)，將推遲至2022年6月29日的申報截止日期之後。公司正在努力盡快完成中期申報，並預計中期申報將在公司提交年度申報之後提交。
For further inquiries, please contact:
如有進一步查詢，請聯繫：
Investor contact:
投資者聯繫方式：
Investor Relations
info@cxxi.ca
+1 833 289-2994
投資者關係
郵箱：Info@cxxi.ca
+1 833 289-2994
Company contact:
公司聯繫人：
Michael Kidd
Chief Financial Officer and Director
Michael.Kidd@cxxi.ca
邁克爾·基德
首席財務官兼董事
郵箱：Michael.Kidd@cxxi.ca
About C21 Investments Inc.
C21 Investments is a vertically integrated cannabis company that cultivates, processes, and distributes quality cannabis and hemp-derived consumer products in the United States. The Company is focused on value creation through the disciplined acquisition and integration of core retail, manufacturing, and distribution assets in strategic markets, leveraging industry-leading retail revenues with high-growth potential multi-market branded consumer packaged goods. The Company owns Silver State Relief and Silver State Cultivation in Nevada, including legacy Oregon brands Phantom Farms, Hood Oil and Eco Firma Farms. These brands produce and distribute a broad range of THC and CBD products from cannabis flowers, pre-rolls, cannabis oil, vaporizer cartridges and edibles. Based in Vancouver, Canada, additional information on C21 Investments can be found at and .
關於C21投資公司
C21 Investments是一家垂直整合的大麻公司，在美國種植、加工和分銷優質大麻和大麻衍生消費品。該公司專注於通過在戰略市場中有紀律地收購和整合核心零售、製造和分銷資產來創造價值，利用行業領先的零售收入和高增長潛力的多市場品牌消費包裝商品。該公司在內華達州擁有銀州救濟和銀州種植，包括傳統的俄勒岡州幻影農場、胡德石油和生態菲爾瑪農場。這些品牌生產和經銷範圍廣泛的THC和CBD產品，包括大麻花、預卷、大麻油、蒸發筒和可食用產品。總部設在加拿大温哥華的C21投資公司的更多信息可在和上找到。
Cautionary Statement:
警示聲明：
Certain statements contained in this news release may constitute forward-looking statements within the meaning of applicable securities legislation. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Forward looking statements in this news release include, but are not limited to, the Company's continued ability to satisfy the information guidelines set out in NP 12-203, the duration of the MCTO and the completion and anticipated timing of the Company making the Annual Filings and Interim Filings.
本新聞稿中包含的某些陳述可能構成適用證券法意義上的前瞻性陳述。這些陳述涉及已知和未知的風險、不確定性和其他因素，可能導致實際結果或事件與這些前瞻性陳述中預期的大不相同。本新聞稿中的前瞻性陳述包括但不限於，公司繼續滿足NP 12-203規定的信息指南的能力、MCTO的持續時間以及公司完成年度申報和中期申報的預期時間。
The forward-looking statements contained in this news release are based on certain key expectations and assumptions made by the Company, including, without limitation, information based on the current state of the Annual Filings and Interim Filings; the Company's belief that its external auditor will complete its audit and release its audit opinion in a timely manner that will allow the Company to file the Annual Filings; that the unaudited financial statements prepared by management of the Company will not differ materially from audited financial statements once available; and the ability of the Company's management to execute its business strategy, objectives and plans. 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. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks and uncertainties arising from any delay in filing the Annual Filings and Interim Filings; the Company's ability to satisfy the requirements of NP 12-203; the revocation of the MCTO and replacement with a cease trade order; general business, economic, competitive, political and social uncertainties; the impact of the COVID-19 pandemic on the Company's operations and other factors, many of which are beyond the control of the Company
本新聞稿中包含的前瞻性陳述基於公司做出的某些重要預期和假設，包括但不限於基於年度報告和中期報告現狀的信息；公司相信其外部審計師將及時完成審計併發布審計意見，使公司能夠提交年度報告；公司管理層編制的未經審計的財務報表一旦可用，將與經審計的財務報表沒有實質性差異；以及公司管理層執行其業務戰略、目標和計劃的能力。儘管公司認為前瞻性陳述所基於的預期和假設是合理的，但不應過度依賴前瞻性陳述，因為公司不能保證它們將被證明是正確的。由於前瞻性陳述涉及未來的事件和情況，它們本身就具有內在的風險和不確定性。由於一些因素和風險，實際結果可能與目前預期的結果大不相同。這些風險和不確定性包括但不限於：延遲提交年度文件和中期文件所產生的風險和不確定因素；公司滿足NP 12-203要求的能力；最高技術合同的撤銷並以停止貿易令取而代之；一般業務、經濟、競爭、政治和社會方面的不確定性；新冠肺炎疫情對公司運營的影響；以及其他許多公司無法控制的因素
The forward-looking statements contained in this news release represent the Company's expectations as of the date hereof and are subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.
本新聞稿中包含的前瞻性陳述代表了公司截至本新聞稿發佈之日的預期，在該日期之後可能會發生變化。除非適用的證券法規要求，否則公司不會因為新信息、未來事件或其他原因而更新或修改任何前瞻性陳述，也不承擔任何義務。
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
加拿大證券交易所及其監管服務提供商(該術語在加拿大證券交易所的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。
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