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AREV NanoTec Brands Inc. Filing Financial Statements for the Fiscal Year Ended December 31, 2019 and the 3 Month Period Ended March 31, 2020 After Due Date

Tickers: XCNQ:AREV, XOTC:AREVD
Tags: #Healthcare



VANCOUVER, BC - TheNewswire - June 15, 2020 - AREV NANOTEC BRANDS INC. (CSE:AREV) (CNSX.AREV.CN) (OTC:AREVD) ("AREV Brands") will not be able to file its audited annual financial statements for the period ended December 31, 2019 and its MD&A by the filing deadline of June 15, 2020 in reliance of British Columbia Instrument 51-515 Temporary Exemption from Certain Corporate Finance Requirements and may not be able to file its interim financial statement for the period ended March 31, 2020 and its MD&A by the filing deadline of July 14, 2020 in reliance of British Columbia Instrument 51-517 Temporary Exemption from Certain Corporate Finance Requirements with Deadlines during the Period from June 2 to August 31, 2020 and as a result will be in default of its obligations under National Instrument 51-102 Continuous Disclosure Obligations.

  • - The Company has encountered difficulties in completing the audit for the above-mentioned financial statements due to COVID-19 pandemic induced short staffing of the Company and its auditors.

  • - The Company intends to satisfy the alternative information guidelines set out National Policy 12 - 203 Cease Trade Orders for Continuous Disclosure Default by filing bi-weekly Default Status Reports, as required, until such time as the financial statements and MD&A are filed.

  • - The Company advises that there are no insolvency proceedings to which the Company is subject and there is no material information concerning the affairs of the Company that has not been generally disclosed.

  • - The Company has requested from the applicable Canadian securities regulators that a management cease trade order related to the Company's securities be imposed against some or all of the persons who have been directors, officers or insiders of the Company. If granted, such an order would not generally affect the ability of persons who have not been directors, officers or insiders of the Company to trade the Company's securities.

  • - Canadian securities regulators may impose an order that all trading in securities of the Company cease, either permanently, or for such period as is specified in the order, if the Company does not file its annual financial statement and MD&A by July 15, 2020. The Company further acknowledges that an issuer cease trade order may be imposed prior to July 15, 2020 if the Company fails to file its bi-weekly Default Status Reports on time.

For further information, contact Mike Withrow, mike@AREVBrands.com 778-929-6536.

On behalf of the Board,

Mike Withrow
CEO & Director

About AREV NanoTec Inc.
AREV NanoTec Brands Inc. ("AREV") produces and sells functional ingredients produced via its proprietary extraction systems. These premium ingredients and products are targeted for the natural health, medical, functional food, nutraceutical, sport nutrition markets. AREV's model is to toll process extraction of targeted essential and functional oils and license its formulations to Licensed Producers in Canada. The company utilizes toll processors in foreign countries to encapsulate and package its formulations that can be sold in traditional distribution channels and online.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

FORWARD LOOKING INFORMATION

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws. This press release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks various risk factors discussed in the Company's Management's Discussion and Analysis under the Company's profile on www.sedar.com.

Copyright (c) 2020 TheNewswire - All rights reserved.

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