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Similar to other companies, SpeakEasy has been impacted by COVID-19 related lockdowns, quarantine measures and economic pressures experienced worldwide. Reasons for the delay in filing include: the challenge to complete a portion, as it relates to the rapid growth of Company's operations, of the Company's annual audit in normal time frames as a result of an increase in complex accounting considerations relating to revenues, cost of sales, and inventory. In addition to the challenges surrounding COVID-19, the Company experienced another year of significant growth in its range of products available for sale further complicating the disclosure and reporting requirements of the financial statements. Consequently, the Company has been challenged to fulfill the auditor's requests prior to the filing deadline for the Financial Disclosure. The preparation and review of the Annual Filings is substantially complete and the Applicant understands that its auditor is undergoing additional procedures to verify certain transactions.
SpeakEasy is working diligently with its auditors and financial professionals to provide the additional documentation to its auditors and to complete the audit of the financial statements for the year ended
The Company has filed an application with the
Warrant Extension
On
About
Statement Regarding Forward-Looking Information
This news release contains statements that constitute "forward-looking statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause SpeakEasy's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Forward-looking statements in this document include statements concerning SpeakEasy's intent to file the Financial Disclosure before
Although SpeakEasy believes the forward-looking statements contained in this news release are reasonable based on information available on the date hereof, by their nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such statements.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; COVID-19, adverse industry events; future legislative and regulatory developments involving cannabis; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the cannabis and hemp industries and markets in
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
The Canadian Securities Exchange has not approved nor disapproved the contents of this news release.
SOURCE
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