- WeedMD (WMD) has released the delayed filing of its 2020 annual financial disclosure
- Its newly appointed and incoming CFO, Beth Carreon is in the process of assuming oversight of the required filings
- This delay will prevent WeedMD officers and directors from preparing WeedMD’s regulatory filings in a timely manner
- WeedMD expects the required filings to occur prior to May 28, 2021
- WeedMD Inc. (WMD) is currently up at 1.67 per cent and is trading at C$0.30 at 2:52 pm ET
The filing of WeedMD’s (WMD) audited annual financial statements will be delayed beyond the filing deadline of April 30, 2021.
WeedMD will also be postponing its fiscal year-end 2020 conference call, originally scheduled for Friday, April 30, 2021. The call is now expected to be scheduled on or before May 28, 2021.
This delay is primarily due to the previously announced resignation of WeedMD Chief Financial Officer, Lincoln Greenidge, effective April 30, 2021.
WeedMD’s newly appointed and incoming CFO, Beth Carreon is in the process of assuming oversight of the required filings, working with WeedMD’s appointed auditors during the transition period.
This delay will prevent WeedMD officers and directors from preparing WeedMD’s regulatory filings in a timely manner.
WeedMD CEO, George Scorsis confirmed today he will sign the CEO certification for the financial year ended December 31, 2020 in alignment with Carreon once the auditors and Carreon complete their exercise.
WeedMD has made an application to the Ontario Securities Commission for a management cease trade order, which would restrict all trading in securities of WeedMD, whether direct or indirect, by management of WeedMD until the required filings have been completed.
If the MCTO is not granted by the OSC, the applicable Canadian securities regulatory authorities could issue a general cease trade order against WeedMD for failure to file the required filings within the prescribed time period.
WeedMD is working expeditiously with auditors to complete the audit as soon as possible. WeedMD expects the required filings to occur prior to May 28, 2021.
WeedMD Inc. is the publicly traded parent company of WeedMD RX Inc. and Starseed Medicinal Inc., licence holders producing and distributing cannabis products for both the medical and adult-use markets.
WeedMD Inc. (WMD) is currently up at 1.67 per cent and is trading at C$0.30 at 2:52 pm ET.