Lift & Co. Announces Delay in Filing Annual Financial Statements

Published: July 27, 2020

Lift & Co. Announces Delay in Filing Annual Financial Statements

Lift & Co. Corp. announces that due to circumstances created by the COVID-19 global pandemic, the Company will not be filing its audited financial statements, related management discussion and analysis and certifications of the financial statements for the fiscal year ended March 31, 2020, by the scheduled due date of July 29, 2020, as required under section 4.2(b) and section 5.1(1) of National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”).  Lift & Co. will also not be filing its June 30, 2020, quarterly report and management discussion and analysis which is due August 29, 2020.

On May 20, 2020, the Canadian Securities Administrators (“CSA“) issued a notice stating that securities regulators will be providing coordinated relief consisting of a 45-day extension for certain periodic filings required to be made between June 2, 2020 and August 31, 2020, as a result of the COVID-19 pandemic. As such the Ontario Securities Commission (“OSC“) has enacted Instrument 51-505 – Temporary Exemption from Certain Corporate Finance Requirements with Deadlines during the Period from June 2 to August 31, 2020 (“OSC Instrument 51-505“). The Company will be relying on this extension period due to delays experienced as result of the COVID-19 pandemic.

As required by OSC Instrument 51-505, BC Instrument 51-515 Temporary Exemption from Certain Corporate Finance Requirements (“BC Instrument 51-515”) and Blanket Order 51-517 Temporary Exemption from Certain Corporate Finance Requirements (“ASC Blanket Order 51-517”), the Company discloses the following:

  • The Company expects to file its audited financial statements, related management discussion and analysis and certifications of financial statements for the fiscal year ended March 31, 2020 on or about September 14, 2020, and the quarterly report along with the management discussion and analysis on or about October 15, 2020; and
  • In the interim, the Company’s management and other insiders will be subject to a trading black-out policy that reflects the principles in Section 9 of National Policy 11-207 – Failure-to-File Cease Trade Orders.

The Company confirms that since the filing of its financial statements and related management discussion and analysis for
the period ended December 31st, 2019, there have been no material business developments other than those disclosed through news releases.Lift & Co. is a publicly traded technology company modernizing the cannabis industry.