CHICAGO, IL and VANCOUVER, BC / ACCESSWIRE / April 26, 2024 / The Planting Hope Company Inc. (TSXV:MYLK)(OTCQB:MYLKF)(FRA:J94) ("Planting Hope " or the "Company") announces that it has proactively applied for a voluntary management cease trade order (the "MCTO") with the British Columbia Securities Commission, which will cause delays to the filing of the Company's annual financial statements and accompanying management's discussion and analysis for the fiscal year ended December 31, 2023 (the "Required Filings").
Reasons for the anticipated delay include delays in finding and hiring a new Chief Financial Officer of the Company, as well as delays resulting from the newly appointed Chief Financial Officer of the Company taking the time to properly review and prepare annual financial statements for the fiscal year ended December 31, 2023. The Company is working diligently with its auditors to resolve this matter as quickly as possible.
The Company currently expects to file the Required Filings on or before June 28, 2024, and will issue a press release announcing completion of such filings once completed. Until the Company files the Required Filings, it will comply with the alternative information guidelines set out in National Policy 12-203 - Management Cease Trade Orders. These guidelines require the Company to issue bi-weekly default status reports by way of a press release during the period of the MCTO.
The MCTO only restricts the Chief Executive Officer and Chief Financial Officer of the company from all trading in securities of the Company until such time as the Required Filings have been filed by the Company and the MCTO has been lifted. The MCTO does not affect the ability of other shareholders of the Company to trade in securities of the Company.
About The Planting Hope Company Inc.
Planting Hope is reimagining and reinventing food today so that our planet can feed 10 billion people tomorrow. A Foodtech-driven company at the forefront of sustainable consumer food and beverage evolution, Planting Hope transforms nutrient-dense, widely cultivated crops into innovative, nutrient-rich products that reimagine pantry staples in the largest, fastest-growing global food categories.
Our award-winning breakthrough brands, including Hope and Sesame® Sesamemilk, RightRice® High-Protein Veggie Rice, and Mozaics Real Veggie Chips, are not only disrupting global markets but also significantly reducing environmental footprints. Available across the US and Canada in grocery retailers (Whole Foods Market, Sprouts Farmers Markets), through foodservice operators (CAVA Mediterranean restaurants - NYSE: CAVA), and e-commerce and alternative retail channels (Amazon, QVC), our products blend culinary innovation with advanced technology, offering breakthrough products with wide moats. Our products are poised to disrupt global food and beverage categories, make a positive impact on the world, and provide investors with valuable opportunities in the growing sustainable food market.
This is the food that Gen Z is demanding and that Gen Alpha will grow up with: this is the future of food.
Explore more at plantinghopecompany.com, sign up for Planting Hope news emails HERE and follow us on LinkedIn.
For Planting Hope product sales and distribution opportunities, please contact James Curley, EVP of Sales, at james@plantinghopecompany.com.
Contacts
Company Contact:
Julia Stamberger CEO and Co-Founder
(773) 492-2243
julia@plantinghopecompany.com
Media Contact:
Corinn Williams
(773) 492-2243
Corinn@plantinghopecompany.com
FORWARD-LOOKING INFORMATION
This press release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Forward-looking information in this press release includes statements about the expected filing of the Required Filings and the grant of the MTCO.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made including, without limitations, information based on the current status of the Required Filings and the CPAB Audit. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information, and there is no guarantee the Required Filings will be made on the timeline currently expected or at all or that the MCTO will be granted. If the MCTO is not granted and/or if the Required Filings are subject to additional delays, the securities of the Company could be subject to a cease trade order or other actions taken by the securities regulators and/or the stock exchange(s) on which the Company's securities are listed. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events, or developments, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
SOURCE: The Planting Hope Company Inc.
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