True Leaf Brands Inc (CSE:MJ) (OTCQX:TRLFF) provided Friday updates on the status of the filing of its operating and financial results for the fiscal year ended March 31, accompanying management's discussion and analysis, and related CEO and CFO certifications.
At the same time, the company also is providing an update on the status of the filing of its operating and financial results for the first quarter ended June 30, accompanying management's discussion and analysis, and related CEO and CFO certifications.
In a statement, True Leaf said it will continue to rely on BC Instrument 51-517 issued by the British Columbia Securities Commission (BCSC), which provides up to a 45-day extension for certain periodic filings normally required to be made by reporting issuers during the period from June 2 to August 31.
The company estimates that it will file the annual filings on or before September 12 and the interim filings on or before October 13.
The following material business developments of True Leaf have occurred since the company's last update on July 21:
- On August 5, 2020, True Leaf announced that it obtained Orders from the Supreme Court of British Columbia extending the stay of proceedings in the companies' restructuring proceedings under the Bankruptcy and Insolvency Act (Canada). The stay of proceedings has been extended to September 15.
- On August 19, 2020, True Leaf announced that, as part of the sales process approved by Order of the British Columbia Supreme Court made on May 13, True Leaf Pet Inc (TLP) has entered into a purchase and sale agreement with 4033001 and Hemp Technology Inc for the sale of substantially all of the assets of TLP.
In connection with utilizing the temporary relief and extensions for issuers provided by the BCSC, True Leaf confirms that its management and other insiders are subject to an insider trading black-out policy that reflects the principles in Section 9 of National Policy 11-207 - Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.