Numinus Wellness Inc. Requests Management Cease Trade Order Amid Financial Filing Delays
VANCOUVER, BC, Nov. 15, 2024 /PRNewswire/ – Numinus Wellness Inc. NUMI NUMIF (“Numinus” or the “Company“) has announced a request for a temporary Management Cease Trade Order (“MCTO“) from the British Columbia Securities Commission (“BCSC“). This request pertains to the filing of its audited annual financial statements (the “Audited Financial Statements“) and Management’s Discussion and Analysis (MD&A) for the financial year ending August 31, 2024.
The MCTO is sought to allow Numinus more time to finalize its Audited Financial Statements and related filings, including the necessary CEO and CFO certifications (the “Annual Filings“). The delay stems from unexpected challenges the Company faced during the financial closure process. With the help of its accounting team, Numinus aims to resolve all queries and expects to complete the filings by the end of the year.
Important Deadlines and Commitments
As outlined by the BCSC, Numinus must adhere to specific regulations:
- The Company is obligated to file its Annual Filings under IFRS within 120 days after its financial year ends, which falls on November 29, 2024 (the “Annual Filing Deadline“). Current expectations suggest these filings will not meet this deadline.
- Efforts to prepare and submit the Annual Filings are ongoing, contingent on the availability of the auditing team.
- The Company will provide bi-weekly status updates as long as it remains in default of the Annual Filing Deadline.
- Numinus reports that it is not experiencing any insolvency issues.
- No other significant information about the Company’s status has been withheld from public disclosure.
Insider Trading Blackout in Effect
An insider trading blackout is in place until the Annual Filings are submitted. Numinus will follow the alternative information guidelines prescribed in National Policy 12-203 Management Cease Trade Orders during this time.
About Numinus
Numinus Wellness Inc. NUMI is focused on improving mental health through innovative therapies, including safe, evidence-based psychedelic-assisted treatments. The Company’s approach not only includes psychedelic research but also aims to integrate these therapies into standard clinical practices, addressing conditions such as depression, anxiety, trauma, and substance use. Learn more at www.numinus.com.
Forward-Looking Statements
This press release may contain forward-looking statements regarding expected future events. These statements can include terms like “anticipate,” “believe,” and “expect,” as well as phrases suggesting potential outcomes. Specifically, the Company reasonably expects that the Annual Filings will be completed by late December 2024 or early January 2025. However, these forecasts involve risks and uncertainties that could cause actual results to differ significantly. Important details regarding these risks are outlined in the Company’s annual information form dated November 29, 2023, accessible on SEDAR at www.sedarplus.ca.
For more information:
Investor Contact: Craig MacPhail invest@numinus.com
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SOURCE Numinus Wellness Inc.
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