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InMed Submits Form 12b-25
VANCOUVER, British Columbia, Feb. 09, 2023 (GLOBE NEWSWIRE) -- InMed Pharmaceuticals Inc. (“InMed” or the “Company”) (Nasdaq: INM), a leader in the
About this update from Inmed Pharmaceuticals Inc.
[{"type":"text","content":"VANCOUVER, British Columbia, Feb. 09, 2023 (GLOBE NEWSWIRE) -- InMed Pharmaceuticals Inc. (“InMed” or the “Company”) (Nasdaq: INM), a leader in the pharmaceutical research, development and manufacturing of rare cannabinoids and cannabinoid analogs, today announces it has submitted a Form 12b-25 with the U.S. Securities and Exchange Commission (the “SEC”) in connection with its Quarterly Report on Form 10-Q for the period ended December 31, 2022 (the “Form 10-Q”). Due to the recent change in the Company’s auditors as previously announced on December 12, 2022 and a subsequent delay in the client acceptance process, the Company will be unable to file its financial statements for the three and six months ended December 31, 2022 in a timely manner. The Company intends to file a complete version of the Form 10-Q with the SEC, together with its corresponding quarterly filings in Canada (the “Required Filings”) within the five-day extension period afforded by Rule 12b-25 under the Securities Exchange Act of 1934, as amended. Canadian Disclosure Requirements Additionally, the Company made an application to the British Columbia Securities Commission to approve a temporary management cease trade order (\"MCTO\") under National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults (\"NP 12-203\"), which, if granted, will prohibit trading in securities of the Company by the Chief Executive Officer and Chief Financial Officer of the Company until such time as the Required Filings and all continuous disclosure requirements have been filed by the Company, and the MCTO has been lifted. During the period in which the MCTO is effective, the general public, who are not insiders of the Company, will continue to be able to trade in the Company’s listed securities. The MCTO application has been made but there is no guarantee or assurance that the MCTO will be granted. The Company anticipates that it will be in a position to remedy the default by filing the Required Filings on or about February 20, 2022. The MCTO will be in effect until the Required Filings are filed. The Company intends to satisfy the provisions of the alternative information guidelines set out in sections 9 and 10 of NP 12-203 so long as the Required Filings are outstanding. About InMed: InMed Pharmaceuticals is a global leader in the research, development and manufac...