Business
Above Food Ingredients Inc. Provides Update on Completion of Fiscal 2025 Audit and Readiness to File Form 20-F
Regina, Saskatchewan--(Newsfile Corp. - March 27, 2026) - Above Food Ingredients Inc. (Nasdaq: ABVE) ("Above Food" or the "Company") today provided an update
About this update from Above Food Ingredients Inc.
[{"type":"text","content":"Regina, Saskatchewan--(Newsfile Corp. - March 27, 2026) - Above Food Ingredients Inc. (Nasdaq: ABVE) (\"Above Food\" or the \"Company\") today provided an update on the audit of its consolidated financial statements for the fiscal year ended January 31, 2025 (\"Fiscal 2025\") and the Company's related annual report on Form 20-F (the \"Form 20-F\").\nThe Company confirms that the audit process has been substantively completed and that the Form 20-F has been prepared and is ready to be filed with the U.S. Securities and Exchange Commission (\"SEC\"), subject only to certain required third-party confirmations and final review procedures. Although the Company had expected to receive these confirmations by now, their substance has already been communicated and what remains is for the professionals involved to finalize the form of those confirmations, which is expected to be resolved swiftly.\nAs previously disclosed, shortly after Fiscal 2025 the Company completed the restructuring and disposal of a material subsidiary that is now under receivership (the \"Disposed Subsidiary\"). The outstanding confirmation relates to the court-appointed receiver of the Disposed Subsidiary and is required in connection with verification of the related disclosures in the Form 20-F. Upon receipt of this confirmation in an acceptable form, the Company intends to promptly proceed with the completion and filing of the Form 20-F with the SEC.\nThe Company remains well within the filing extension period that the Nasdaq Hearings Panel has discretion to approve and continues to keep all key stakeholders apprised of its progress. Following the filing of the Form 20-F, the Company expects to file its 2026 interim financial statements within the subsequent days and then move swiftly to complete its impending corporate transactions.\nLionel Kambeitz, Chief Executive Officer and Executive Chairman of Above Food, commented: \"Our team and advisors have worked relentlessly to bring this audit process to the point of substantive completion, and we are now fully focused on resolving the final procedural items. We are deeply grateful for the patience and support of our shareholders, partners, and other stakeholders as we complete this last step in addressing the audit complexities arising from our historical restructuring.\nOnce our Form 20-F and interim financial sta...