LOS ANGELES, CA / ACCESSWIRE / July 22, 2020 / Radiko Holdings Corp. (CSE:RDKO) (the "Company") announces that, further to its Press Release dated July 16, 2020, its principal regulator, the Alberta Securities Commission, has accepted the Company's application for and granted a management cease trade order (the "MCTO") dated July 17, 2020. The application for the MCTO was made by the Company due to a delay in the filing of its unaudited interim financial statements, accompanying management discussion and analysis and related CEO and CFO certifications for the period ended March 31, 2020 (the "Q1 Filings").
During the period in which the MCTO is effective, the general investing public, who are not insiders of the Company, will continue to be able to trade in the Company's listed common shares. However, the Company's CEO and CFO will not be able to trade the Company's common shares until such time as the Q1 Filings have been filed by the Company and the MCTO has been lifted.
The Company's board of directors and its management confirm that they are working expeditiously to meet the Company's obligations relating to the filing of the Q1 Filings. At this time, the Company anticipates being able to complete the Q1 Filings on or before August 31, 2020.
During the MCTO, the Company confirms that it will comply with the provisions of the alternative information guidelines set out in National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults for as long as it remains in default, including the issuance of bi-weekly default status reports, each of which will be issued in the form of a news release. The Company confirms as of the date of this news release that there is no insolvency proceeding against it and there is no other material information concerning the affairs of the Company that has not been generally disclosed.
About Radiko Holdings
Radiko Holdings (RDKO) is a CBD and cannabis-focused brand portfolio, leveraging the potential of the plant by offering best of breed products that naturally complement today's consumer lifestyles. The Corporation's mission is to build and market a diversified portfolio of cannabis and CBD brands, with strategic manufacturing and distribution partnerships to support better EBITDA and margins. RDKO markets products with THC content where that practice has been legalized at the state level through either medicinal or recreational use. RDKO also markets products containing CBD in the US and internationally. The Corporation believes as the legal cannabis and CBD markets evolve, high-quality, unique products will increasingly capture market share and provide a valuable platform for growth.
For further information:
Steve Gormley
Chief Executive Officer
Radiko Holdings
12655 W Jefferson Blvd
Los Angeles, CA, 90066
Ph: +1-(323)-828-4321 or steve@radikoholdings.com
Investor Relations Contact:
Dave Burwell
Vice President
The Howard Group
#350, 318 - 11 Avenue SE
Calgary, AB T2G 0Y2
Ph: +1-(403)-221-0915 or dave@howardgroupinc.com
Media Inquiries: media@intlcannabrands.com
Forward Looking Statements
Except for statements of historical fact relating to the Company, certain information contained herein relating to the timing of the filing of financial statements constitutes forward-looking statements. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. Except as required by applicable securities laws, the Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE: Radiko Holdings Corp.
View source version on accesswire.com:
https://www.accesswire.com/598520/Radiko-Announces-Management-Cease-Trade-Order
