July 22, 2020 – Vancouver, BC – Geyser Brands Inc. (TSX-V: GYSR)(“Geyser Brands” or the “Company”) announces that, as a result of the COVID-19 pandemic, it anticipates a delay in the filings of its audited annual financial statements for the year ended March 31, 2020 (the “Financial Statements”), and accompanying management’s discussion and analysis (“MD&A”), and related CEO and CFO certifications (the “Certifications”, together with the Financial Statements and the MD&A, the “Annual Filings”).
The Company will be relying on BC Instrument 51-517 – Temporary Exemption from Certain Corporate Finance Requirements with Deadlines during the Period of June 2 to August 31, 2020 (“BCI 51-517”) enacted by the British Columbia Securities Commission and Alberta Instrument 51 – 519 – Temporary Exemption from Certain Corporate Finance Requirements with Deadlines during the Period from June 2 to August 31, 2020 (“AI 51-519”) enacted by the Alberta Securities Commission which provides relief consisting of a 45-day extension for certain regulatory filings required to be made during the period June 2, 2020 to August 31, 2020. The Company will be relying on the temporary exemptions pursuant to BC 51-517 and AI 51-519 with respect to the following provisions:
· the requirement to file the Financial Statements on or before the 120th day after its financial year-end as required by subsection 4.2(b) of National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”);
· the requirement to file it’s the MD&A on or before the earlier of the 120th day after its financial year-end and the date the Financial Statements are filed as required by subsection 5.1(2) of NI 51-102; and
· the requirement to file the Certifications pursuant to Section 4.1 of National Instrument 52-109 –Certification of Disclosure in Issuers’ Annual and Interim Filings.
The Company is continuing to work diligently on the finalization of the Annual Filings and estimates that it will file the Annual Filings on or before September 12, 2020. In connection with utilizing the temporary relief and extensions for issuers provided pursuant to BCI 51-517 andAI 51-519, the Company confirms that, until such time as the Annual Filings have been filed, the Company’s management and other insiders are subject to an insider trading black-out that reflects the principles of Section 9 of National Policy 11-207 – Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.
Other than as disclosed herein or as previously disclosed by the Company, there have been no material business developments since the date of the Company’s most recent filing of its interim filings and accompanying management discussions and analysis.
ABOUT GEYSER BRANDS
Geyser Brands Inc. develops consumer product brands in the health and wellness sector that use hemp and CBD as a value-added ingredient. These involve next-generation formulas that focus on the mix of cannabinoids for specific conditions such as insomnia, anxiety and pain. Proprietary delivery technologies include all natural nano-technology, slow-release mechanisms and non-molecule degrading baking processes. In anticipation of coming edibles legislation, and with its Health Canada approved Licensed Production Facility, Geyser Brands has 15,000 square feet in two GMP facilities in Vancouver, BC.
For more information, visit the company’s website at www.geyserbrands.com.
On Behalf of the Board of Directors
Director and CEO