Business
Namaste Technologies Announces Auditor Resignation and Provides Corporate Update
Namaste Technologies Announces Auditor Resignation and Provides Corporate Update C...
About this update from Lifeist Wellness Inc
[{"type":"text","content":"\n\n\n\nNamaste Technologies Announces Auditor Resignation and Provides Corporate Update\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, March 5, 2019\n\n\n\nTORONTO, March 5, 2019 /CNW/ - Namaste Technologies Inc. (\"Namaste\" or the \"Company\") (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) confirmed today that PricewaterhouseCoopers, LLP (\"PwC\") will no longer be acting as the Company's auditor. The Company's audit committee and board have accepted PwC's resignation and are in advanced discussions with potential successor auditors, one of whom is in the final stages of its client acceptance process. The filings required under Section 4.11(5) of National Instrument 51-102- Continuous Disclosure Obligations will be made publicly available at www.sedar.com.  The Company's annual financial statements are due to be filed by March 31, 2019. The Company currently believes that it is unlikely that it will be able to meet such filing deadline. The Company will continue to assess this, and will update the market in due course. \n\n \n \n\n \nThe Company's financial reporting team has continued to work diligently during the last several weeks on finalization of the Company's annual financial statements. The resignation of PwC has not impacted management's confidence in its financial results, and it remains committed to assisting new auditors to complete the year-end audit.  \nCorporate Update and Strategic ReviewFollowing recent changes in management, Namaste's executive team has undertaken an in-depth strategic review of its current and future operations globally in an effort to streamline the business and ensure compliance throughout the organization. As part of this process, management has been reviewing the entire business in an effort to focus the organization on the highest value opportunities to maximize future growth. \nIn connection with this review, the Company is examining its global e-commerce activities to ensure compliance with various local tax and other requirements involving the import, sale and distribution of its pro...