Business
Boosh Announces the Granting of a Management Cease Trade Order
Vancouver, British Columbia--(Newsfile Corp. - August 1, 2023) - Boosh Plant-Based Brands Inc.&#...
About this update from Boosh Plant-based Brands, Inc.
[{"type":"text","content":"Boosh Announces the Granting of a Management Cease Trade OrderVancouver, British Columbia--(Newsfile Corp. - August 1, 2023) - Boosh Plant-Based Brands Inc. (CSE: VEGI) (OTCQB: VGGIF) (FSE: 77I) (\"Boosh\" or the \"Company\") announced today that its principal regulator, the British Columbia Securities Commission, has granted a management cease trade order (the \"MCTO\").As previously announced on July 17, 2023 (the \"Announcement\"), the Company applied for the MCTO due to a delay in the filing of the Company's audited consolidated financial statements for the year ended March 31, 2023, annual management's discussion and analysis for the same period, and the management certifications of annual filings (collectively, the \"Filings\"). The MCTO restricts the Chief Executive Officer and Chief Financial Officer from all trading in securities of the Company until such time as the Filings have been filed by the Company and the MCTO has been lifted. The MCTO does not affect the ability of other shareholders of the Company to trade in securities of the Company.The Company confirms that since the date of the Announcement: (i) there has been no material change to the information set out in the Announcement that has not been generally disclosed; (ii) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the \"alternative information guidelines\" under National Policy 12-203 - Management Cease Trade Orders (\"NP 12-203\") and issue bi-weekly default status reports for so long as the delay in filing the Filings continues, each of which will be issued in the form of a news release; (iii) there has not been any other specified default by the Company under NP 12-203; (iv) the Company is not subject to any insolvency proceedings; and (v) there is no material information concerning the affairs of the Company that has not been generally disclosed.The Company also announced today that it has settled a combined total of C$950,000 in debt owed to creditors via the issuance of 19,000,000 Common Shares. The Company is settling the indebtedness through the issuance of Shares to preserve cash and improve the Company's balance sheet.Connie MarplesFounder/[email protected] Boosh Plant-Based Brands Inc.: Boosh Plant-Based Brands Inc., through its wholly owned subsidiary, Boosh Food (...