TORONTO, ON / ACCESSWIRE / May 14, 2021 / Tree of Knowledge International Corp. (CSE:TOKI) (the "Corporation" or "TOKI") provides this initial bi-weekly default status report in accordance with National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203") and further to the Corporation's press release dated May 3, 2021. In the Corporation's initial default announcement of April 15, 2021 (the "Default Notice"), the Corporation announced the delay in the filing of its audited annual financial statements for the year ended December 31, 2020 (the "Annual Financial Statements") and related management's discussion and analysis and CEO and CFO certifications (collectively, the "Annual Filings") by the prescribed filing deadline.
As previously announced in the April 15, 2021 and May 3, 2021 press releases of the Corporation, the Corporation applied for and was granted a management cease trade order in respect of the delayed Annual Filings (the "MCTO") by the Ontario Securities Commission. The MCTO prohibits the chief executive officer and the chief financial officer from trading in the Corporation's securities for so long as there are filings that are outstanding under applicable securities laws. The MCTO does not affect the ability of the general investing public to trade in the Corporation's listed common shares.
The audit of the Annual Financial Statements is in progress and the Corporation continues to expect to file the Annual Filings on or before July 3, 2021.
The Corporation confirms that since the Default Notice: (i) there is no material change to the information set out in the Default Notice that has not been generally disclosed; (ii) there has been no failure by the Corporation in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203; (iii) there has not been any other specified default by the Corporation under NP 12-203; and (iv) there is no other material information concerning the affairs of the Corporation that has not been generally disclosed.
Furthermore, the Corporation anticipates that its interim financial statements for the three months ended March 31, 2021, the accompanying management's discussion and analysis and the related CEO and CFO certifications will not be filed by the prescribed filing deadline and will be filed after the Annual Filings are completed and filed.
The Corporation will continue to comply with the provisions of the alternative information guidelines under NP 12-203 by issuing bi-weekly default status reports in the form of news releases for so long as it remains in default of the filing requirements set out above.
For further information
Please Visit: www.tokicorp.com
Contact: Tree of Knowledge International Corp. (CEO - Ommid Faghani)
About Tree of Knowledge International Corp.
TOKI is a public company that delivers pathways to innovative, science-based health and wellness solutions. The Company is a leader in pain management, spanning from seed to patient. Built upon an extensive network of scientific and medical research, TOKI is an advanced leader in the development, processing, and distribution of focused products and treatments for pain relief. Tree of Knowledge spans the globe with its multidisciplinary pain clinics, research partners, consumer CBD products, and education and advocacy programs - all working in harmony to bring health and wellness to the world, while creating value for shareholders and partners.
Forward Looking Statements
Except for statements of historical fact relating to the Company, certain information contained herein relating to the timing of the filing of financial statements constitutes forward-looking statements. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. Except as required by applicable securities laws, the Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE: Tree of Knowledge International Corp.
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