Vancouver BC / NEWSWIRE / October 23, 2020 /TNW/ - Agrios Global Holdings Ltd. (CSE: AGRO) (OTCQB: AGGHF) (FSE: ØSA - WKN-A2N62K) ("Agrios" or the "Company") announces, after the close of markets on October 20, 2020, the Company received a cease trade order (the "Cease Trade Order" of “CTO”). The CTO was issued by the British Columbia Securities Commission, (the “BCSC”) the Company’s principal regulator as a result of Agrios’ failure to file the following periodic disclosure required including:
- The Company's audited annual financial statements for the year ended March 31, 2020;
- Management's Discussion and Analysis relating to the Company's audited annual financial statements for the year ended March 31, 2020;
- Interim Financial Statements of the Company for the periods ended June 30, 2019;
- Management's Discussion and Analysis relating to the Company's interim financial statements for the periods ended June 30, 2019;
- Certification of the foregoing filings by the Company as required by National Instrument 52-109 Certification of Disclosure in Issuers' Annual and Interim Filings.
The Cease Trade Order, among other things;
- Revokes the management cease trade order (the MCTO”) issued by the BCSC on September 15, 2020 in respect to certain directors and officers of Agrios, which prohibited those directors and officers from trading in the Company's securities until after the Company cured its disclosure defaults;
- Prohibits any person or company from trading, directly or indirectly, in any security of the Company in the Province of British Columbia, and in every other province or territory of Canada in which Agrios is a reporting issuer under the terms defined in the Legislation, National Instrument 14-101 Definitions and National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions have the same meaning if used in this order, unless otherwise defined.
Despite this order, a beneficial securityholder of the Issuer who is not, and was not at the date of this order, an insider or control person of the Issuer, may sell securities of the Issuer acquired before the date of this order if both of the following apply:
- the sale is made through a “foreign organized regulated market”, as defined in section 1.1 of the Universal Market Integrity Rules of the Investment Industry Regulatory Organization of Canada; and
- the sale is made through an investment dealer registered in a jurisdiction of Canada in accordance with applicable securities legislation.
A copy of the Cease Trade Order has been posted on the website of the BCSC click here and will be posted on the Agrios Website.
About Agrios Global Holdings Ltd.
Agrios Global Holdings is a data analytics-driven agriculture technology and services company advancing the latest innovations in indoor growing science. The Company owns, leases and manages properties and equipment for eco-sustainable agronomy and provides advisory services to support all aspects of aeroponic cultivation in the cannabis sector. Agrios is actively pursuing new opportunities to expand its portfolio of tenant growers and infrastructure assets in strategic licensed jurisdictions. Based in Vancouver, BC. Agrios is managed by a highly accomplished team of experienced industry and capital markets experts who are committed to the growth of the Company.
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This news release was prepared by management of Agrios, which takes full responsibility for its contents. The Canadian Securities Exchange ("CSE") has not reviewed and does not accept responsibility for the adequacy of this news release. Neither the CSE nor it's Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in Agrios' periodic filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, statements related the timing of the filing of the Annual Financial Statements and the filing of the bi-weekly default status reports.
Although Agrios has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under U.S. Federal laws; change in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. Because of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. Agrios disclaims any intention or obligation to update or revise such information, except as required by applicable law, and Agrios does not assume any liability for disclosure relating to any other company mentioned herein.