SAN MATEO, Calif., April 24, 2020 (GLOBE NEWSWIRE) — Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) (the “Company” or “PLUS”) today announced that, as a result of the COVID-19 pandemic, it will be relying on the co-ordinated relief provided by the securities regulators which consists of a 45-day extension for certain periodic filings, as announced by the Canadian Securities Administrators (“CSA“) on March 18, 2020, with respect to the filing of its annual financial statements, management’s discussion and analysis, and related officer certificates for its financial year ended December 31, 2019.

The notice released by the CSA stated that securities regulators will be providing co-ordinated relief consisting of a 45-day extension for certain periodic filings required to be made on or prior to June 1, 2020 as a result of the COVID-19 pandemic. As such, the British Columbia Securities Commission (“BCSC“) has enacted BC Instrument 51-515 – Temporary Exemption from Certain Corporate Finance Requirements (“BCI 51-515“).

The Company will be relying on the temporary exemption pursuant to BCI 51-515 in respect to the following provisions:

  • the requirement to file audited financial statements for the year ended December 31, 2019 (the “Financial Statements“) within 120 days of the Company’s financial year end as required by section 4.2(b) of National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102“);
  • the requirement to file management discussion and analysis (the “MD&A“) for the period covered by the Financial Statements within 120 days of the Company’s financial year end as required by section 5.1(2) of NI 51-102; and
  • the requirement to file certifications of the Financial Statements (the “Certificates” and together with the Financial Statements, the “Annual Filings“) pursuant to section 4.1 of National Instrument 52-109 – Certification of Disclosure in Issuers’ Annual and Interim Filings.

The Company will provide a further update concerning the exact timing of its Annual Filings.

The Company confirms that there have been no material developments, other than those disclosed through news releases, since the filing of its condensed interim consolidated financial statements for the period ended September 30, 2019.

Additionally, the Company advises that management and other insiders of the Company are subject to a trading black-out policy as described, in principle, in section 9 of National Policy 11-207 – Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.

About PLUS

PLUS is a cannabis and hemp food company focused on using nature to bring balance to consumers’ lives. PLUS’s mission is to make cannabis safe and approachable – that begins with high-quality products that deliver consistent consumer experiences. PLUS is headquartered in San Mateo, CA.

For further information contact:

Jake Heimark
CEO & Co-founder
ir@plusproducts.com

Investors:

Blake Brennan
Investor Relations
blake@plusproducts.com
Tel +1 213.282.6987

Media:

Megan Sekkas
Public Relations
megan@sekkas.com
Tel +310.279.6811

The CSE does not accept responsibility for the adequacy or accuracy of this release.

Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company‘s Management‘s Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.

READ MORE: http://www.globenewswire.com/news-release/2020/04/24/2021974/0/en/Plus-Products-Provides-Update-on-Timing-of-Reporting-2019-Fourth-Quarter-and-Full-year-Financial-Results.html