VANCOUVER, BC – TheNewswire - May 4, 2021 - AREV NANOTEC BRANDS INC. (CSE:AREV) (CNSX:AREV.CN) (“AREV Brands”) announces that will not be able to file its audited annual financial statements for the period ended December 31, 2020 and its MD&A by the filing deadline of April 29, 2021 and as a result will be in default of its obligations under National Instrument 51-102 Continuous Disclosure Obligations.
- The Company has encountered difficulties in completing the audit for the above mentioned financial statements due to a delay due to a change in auditors during Covid and the recent travel restrictions the BC Government has put in place under the Health Act.
- The Company intends to satisfy the alternative information guidelines set out National Policy 12 – 203 Cease Trade Orders for Continuous Disclosure Default by filing bi-weekly Default Status Reports, as required, until such time as the financial statements and MD&A are filed.
- The Company advises that there are no insolvency proceedings to which the Company is subject and there is no material information concerning the affairs of the Company that has not been generally disclosed.
- The Company has requested and has received from the applicable Canadian securities regulators that a management cease trade order related to the Company's securities be imposed against some or all of the persons who have been directors, officers or insiders of the Company. As granted, such an order would not generally affect the ability of persons who have not been directors, officers or insiders of the Company to trade the Company's securities.
- Canadian securities regulators may impose an order that all trading in securities of the Company cease, either permanently, or for such period as is specified in the order, if the Company does not file its annual financial statement and MD&A by May 15, 2021. The Company further acknowledges that an issuer cease trade order may be imposed prior to May 15, 2021 if the Company fails to file its bi-weekly Default Status Reports on time.
For further information, contact Mike Withrow, mike@AREVBrands.com 778-929-6536. For more information visit arevnanotec.com.
On behalf of the Board,
CEO & Director
About AREV Nanotec Inc.
AREV Nanotec Brands Inc. (CSE: AREV) (OTC: AREVF) produces phytomedicinal extracts via its proprietary state-of-the-art extraction methodologies for the life science industry. The AREV model is to advance extraction technologies that provide opportunities for next generation phytomedicine. AREV Nanotec is a member of BIO, the world’s largest trade association representing biotechnology companies, academic institutions, state biotechnology centers, and related organizations across the United States and in more than 30 other countries.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws. This press release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. 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. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks various risk factors discussed in the Company’s Management’s Discussion and Analysis under the Company’s profile on www.sedar.com.
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