The Flowr Corporation FLWPF FLWR announced that it anticipates a delay in filing its annual financial statements and management’s discussion and analysis and related officer certifications for the financial year ended December 31, 2021 which are required to be filed on or before May 2, 2022. The expected delay in filing the required filings is due to a combination of factors, including:
recent changes in the finance department of the company, including to the site controller and finance manager;
additional resources being allocated to the recently announced divestiture of Holigen Limited;
additional time required by the auditor to complete the remaining audit procedures.
The company is continuing to work with the auditor to complete the required filings as soon as possible and expects to file them by no later than May 16, 2022.
In connection with the anticipated delay in filing, Flowr has applied to the applicable Canadian securities regulators for the issuance of a management cease trade order which would restrict all trading in securities of the company by the company’s interim CEO and CFO.
The company intends to satisfy the provisions of the alternative information guidelines set out in sections 9 and 10 of National Policy 12-203 – management cease trade orders so long as the required filings remain outstanding. 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.
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