VANCOUVER, BC / ACCESSWIRE / April 30, 2024 / Final Bell Holdings International Ltd. (the "Company") is pleased to announce that it has filed on SEDAR+ its annual audited financial statements for the year ended March 31, 2023 and the related management's discussion and analysis and other materials (collectively, the "Annual Financial Materials"). With the filing of the Annual Financial Materials, the Company has contacted its principal regulator, the British Columbia Securities Commission, to begin the process of having the Cease Trade Order of August 14, 2023 (the "CTO") lifted, which order ceased trading in the securities of the Company. All of the Company's securities remain subject to the CTO until it is fully revoked.
The CTO was issued for failure to file the Annual Financial Materials, which resulted from unforeseen and unexpected delays in completion of the Company's audit, followed by the sudden and unforeseen departure of the Company's predecessor auditors, who were subsequently replaced by Davidson & Company LLP. This was the first audit for the Company as a consolidated entity following completion of the business combination in late 2022, and presented new challenges that caused delays in the audit process. The Company has since implemented a new senior management and finance team for the purpose of avoiding such delays in the future.
The Company expects that the unfiled unaudited interim consolidated financial statements for the subsequent quarters will be completed in filed in the upcoming weeks.
The Company financials are available under the Company's profile on SEDAR+ at sedarplus.ca.
About Final Bell Holdings International Ltd.
Final Bell operates a highly competitive consolidated group of businesses offering end-to-end solutions to leading cannabis brands and licensed operators. Our services span integrated product development, manufacturing, and supply chain management, including industrial design, engineering, manufacturing, branding, and child-resistant packaging solutions for cannabis vaporizers, edibles, and related products. As a new paradigm for the legal cannabis industry, Final Bell enables brands to fully outsource production and manufacturing of state-of-the-art hardware and packaging to the leading licensed co-manufacturing and product commercialization partners across the country.
For further information please contact:
Kiarash Hessami
Director of Business Analytics and IR
604-365-6099
IR@finalbell.com
Cautionary Note Regarding Forward-Looking Information
This news release contains statements that may constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. The use of words such as "may", "would", could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words are used to identify forward-looking information. In this news release, statements constituting forward-looking information relate, among other things, expectation around the filing of all unfiled interim consolidated financial statements of the Company and the lifting of the CTO. Forward-looking information should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur. Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. These risks, uncertainties and assumptions include, but are not limited to, the risk that the CTO may not be revoked within expected timeframes; as well as those risks described in the Company's other filings with the securities regulatory authorities which have been filed on the Company's profile on SEDAR at www.sedar.com, and could cause actual events or results to differ materially from those projected in any forward-looking information. Accordingly, readers should not place undue reliance on the forward-looking information contained in this news release. The Company does not intend, nor undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events or circumstances or otherwise, except as required by applicable securities law.
SOURCE: Final Bell Holdings International Ltd.
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