Eat Well Investment Group Inc. (“Eat Well” or the “Company”) announces that its principal regulator, the British Columbia Securities Commission, has accepted the Company’s application for, and has granted, a management cease trade order (the “MCTO”). As previously announced on March 25, 2022, the Company applied for the MCTO due to an expected delay in the filing of the Company’s audited annual financial statements for the year ended November 30, 2021, the related management’s discussion and analysis and certificates of its CEO and CFO (collectively, the “Required Filings”) which were due on March 30, 2022.
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The MCTO restricts the Chief Executive Officer and Chief Financial Officer from all trading in securities of the Company until such time as the Required 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 and its auditors continue to work diligently toward completing the Required Filings as soon as possible. The Company is not aware of any specific accounting or audit concerns at this time. The Company expects that it will be in a position to file the Required Filings no later than May 9, 2022.
Until the Required Filings are filed, the Company intends to comply with the provisions of the alternative information guidelines as set out in National Policy 12-203 Management Cease Trade Orders for as long as it remains in default, including the issuance of bi-weekly default status reports in the form of a news release. The Company confirms that there is no material information concerning the affairs of the Company that has not been generally disclosed as of the date of this news release