CALGARY,
AB, June 10, 2024 /CNW/ - The Hempshire Group,
Inc. (TSXV: HMPG) ("Hempshire" or the "Company")
provides an update with respect to the management cease trade order
(the "MCTO") issued by the Alberta Securities Commission
(the "ASC") on May 9, 2024.
The MCTO was issued in connection with the filing of its annual
financial statements, management's discussion and analysis and
related certifications for the financial year ended December 31, 2023 (collectively, the "Annual
Filings"). The MCTO does not affect the ability of shareholders
who are not insiders of the Company to trade their securities.
The Company went through a CFO transition which
has caused delays, however the Company is continuing to work on the
steps required to complete the Annual Filings and its interim
financial statements, management's discussion and analysis and
related certifications for the three month period ended
March 31, 2024 (the "Interim
Filings") and expects to file the Annual Filings and the
Interim Filings by June 30, 2024. The
Company has requested that the ASC permit the MCTO to remain in
place until June 30, 2024 and be
extended to apply to the Interim Filings.
The Company is providing this status update in
accordance with the provisions of the Alternative Information
Guidelines set out in National Policy 12-203 Management Cease Trade
Orders.
The Company confirms as of the date of this news
release that, except as disclosed in this news release, there has
been no material change in the information contained in the
announcements issued on May 1, 2024
and May 21, 2024 and there is no
other material information concerning the affairs of the Company
that has not been generally disclosed.
About Hempshire
Hempshire formulates and markets its own
proprietary brands under the MOUNTAIN® Smokes brand name, including
MOUNTAIN® Originals hemp smokes with <0.3% THC.
Information about the Company's MOUNTAIN® Smokes
line of hemp smokes can be found at the Company's ecommerce website
at https://mountainsmokes.com.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Forward-Looking Statements
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: Hempshire's business, strategies,
expectations, planned operations and future actions; and the
anticipated filing of the Annual Filings and the Interim
Filings.
Hempshire 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
Hempshire can give no assurance that they will prove to be correct.
By its nature, such forward-looking information is subject to
inherent risks and uncertainties, which could cause the actual
results and expectations to differ materially from the anticipated
results or expectations expressed.
SOURCE The Hempshire Group, Inc.
