SANTA ROSA, Calif., April 30, 2021 /CNW/ – GABY Inc. (“GABY” or the “Company“) (CSE: GABY) (OTCQB: GABLF), a California based cannabis consumer products company and cannabis retailer, announces that due to the Company’s auditor not completing its audit procedures in advance of April 30, 2021, it will not be in a position to file its audited annual financial statements for the year ended December 31, 2020, the related management’s discussion and analysis and related CEO and CFO certificates before the required deadline of April 30, 2021. There is no particular issue with the pending audit causing the delay and the auditor has all material information to complete its audit procedures. The delay in the filing of the Required Filings is due to the difficulty of travel between the US and Canada due to COVID-19, the tightened security measures enforced recently preventing the easy collaboration amongst team members, and the difficulty doing field work due to office closures, resulting in inaccessible files, delays in accessing information and documents and similar challenges.
The Company intends to work with its auditor to complete the preparation of these filings and expects to file its 2020 annual financial statements and related management’s discussion and analysis on or before May 7th, 2021.
The Company has applied to the Alberta Securities Commission, as principal regulator for the Company, for the imposition of a management cease trade order under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”) throughout the duration of the default.
The management cease trade order, if approved, will generally not affect the ability of persons who are not or have not been management of the Company to trade in its securities.
The Company confirms that it will satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing biweekly default status reports in the form of news releases for so long as it remains in default of the above-noted filing requirements.
The Company confirms that there is no other material information relating to its affairs that has not been generally disclosed.
Other than as disclosed herein, the Company is up to date in its filing obligations.
Based in Sonoma County California, GABY is a cannabis consumer goods company with proprietary cannabis brands sold in over 200 dispensaries throughout California. GABY owns a significant majority of its supply channel including, retail, manufacturing and distribution. GABY’s strong asset base combined with a management team comprised of highly skilled and successful retail entrepreneurs along with pioneers in California cannabis establishes a strong foundation from which GABY will continue to aggressively grow its brand portfolio and dispensary footprint across California
GABY’s shares trade on the CSE under the symbol “GABY” and on the OTCQB under the symbol “GABLF”. For more information on GABY, visit www.GABYInc.com.
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. More particularly, and without limitation, this news release contains forward looking statements and information concerning the anticipated filing of the financial statements and the approval of the management cease trade order by the ASC.
The forward-looking statements and information are based on certain key expectations and assumptions made by GABY. Although GABY believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because GABY can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed.
Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE GABY, Inc.
For further information: For general inquiries, please contact Margot Micallef, Founder, President & CEO at [email protected]; For media or investor inquiries, please contact: [email protected] or 800-674-2239