Flower One Provides Third Bi-Weekly Status Report in Relation to its Annual Filings

CANNANNEW REPORT

LAS VEGAS & TORONTO–(BUSINESS WIRE)–Flower One Holdings Inc. (“Flower One” or the “Company“) (CSE: FONE) (OTCQX: FLOOF) (FSE: F11), the leading cannabis cultivator and producer in Nevada, today provides its third bi-weekly status report further to the Company’s press release dated May 3, 2021. The Company was granted a customary management cease trade order (the “MCTO“) under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“). As previously announced, the application for the MCTO was made by the Company in order to secure additional time for the Company to file its audited annual financial statements for the year ended December 31, 2020, the related management’s discussion and analysis, certificates of its CEO and CFO and its annual information form (collectively the “Annual Filings“). The MCTO prohibits all trading in securities of the company, whether directly or indirectly, by the company’s CEO and CFO. The MCTO does not affect the ability of other shareholders to trade in the securities of the Company. In connection with the issuance of the MCTO, and in accordance with its obligation to provide bi-weekly updates under the alternative information guidelines set out in NP 12-203, the Company announces that it will not be in a position to file the Annual Filings on May 28, 2021 as announced in its previous bi-weekly updates dated May 3, 2021 and May 14, 2021, but expects to file the Annual Filings on or before June 11, 2021. The Company continues to work closely with its auditor to finalize the Annual Filings as soon as possible. The MCTO will stay in effect until the Annual Filings are filed. In addition to the above, the Company confirms that (i) there has been no failure by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative…

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Source : Flower One Provides Third Bi-Weekly Status Report in Relation to its Annual Filings

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