Heritage Cannabis Holdings Corp. (CSE:CANN) (OTCQX:HERTF) will be issued a cease trade order by the Ontario Securities Commission by virtue of not filing the following periodic disclosure documents by the filing deadline of February 28, 2022: annual audited financial statements for the year ended October 31, 2021, management's discussion and analysis for the year ended October 31, 2021 and CEO and CFO certifications of the annual filings for the year ended October 31, 2021.
The company's 2021 audit currently remains ongoing due to the company’s growth and acquisition activity in 2021. The cause of the delay is not material to the company or its operations. Although the audit continues to progress well, it has taken longer to complete than originally anticipated by virtue of the fact that the company's acquisition of premium 5 in 2021 transitioned the company from one with minimal provincial sales to one with numerous SKUs across 5 product verticals in less than 12 months. Notwithstanding the delay, the company continues to operate normally without disruption and is working diligently and expeditiously with its auditors to complete the annual filings as soon as possible.
