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Edmonton, Alberta – (Newsfile Corp. – September 24, 2021) – Radient Technologies Inc. (TSXV: RTI) (OTC Pink: RDDTF) (“Beaming“or the”Society“) is pleased to provide the following update regarding its press release dated July 29, 2021 (the”Default ad“), in which the Company announced that it had delayed the filing of its annual audited financial statements for its fiscal year ended March 31, 2021 as well as the MD&A and related certificates from the CEO and CFO (collectively the “Annual deposits“). In addition, the Company announces that it has delayed the filing of its interim financial statements for its three-month interim period ended June 30, 2021 (the”Provisional deposits“, and with the annual declarations, the”Required documents“).
The Company had previously filed an application with the Alberta Securities Commission (the “Main Regulator“), British Columbia Securities Commission, Ontario Securities Commission, Manitoba Securities Commission, Saskatchewan Financial and Consumer Affairs Authority, Newfoundland and Labrador, Securities Director, Commission of Financial and Consumer Services of New Brunswick, Nova Scotia Securities Commission, Prince Edward Island, Superintendent of Securities and the Autorité des marchés financiers pursuant to Part 4 of the ‘General Instruction 12-203 (“NP 12-203“) for an order to cease management activity (“MCTO“) as an alternative to a general ban on transactions relating to the late filing of annual documents (the”FaultThe MCTO was granted by the Principal Regulator on July 30, 2021 and will remain in effect until the default is remedied. The MCTO prohibits trading in securities of the Company, either directly or indirectly, by the Chief Executive Officer and Chief Executive Officer of the Company Financial Agent. The issuance of MCTO does not generally affect the ability of persons who have not been directors, officers or insiders of the Company to trade their securities.
Every effort is made by the Company to make the required deposits as soon as possible. The Company now expects that it will be able to collect the required information, the auditor will be able to complete the audit and the Company will be able to complete the annual and interim documents no later than September 30, 2021 and 5 October. 2021, respectively. Except as stated herein, the Company confirms that (a) there has been no change in the information contained in the default announcement that would reasonably be likely to be material to an investor, (b) there has been no failure on the part of the Company in achieving its stated intentions with respect to meeting the provisions of the Alternative Disclosure Guidelines under NP 12-203, (c ) there is no specified default expected (as that term is defined in NP 12-203) after the default, and (d) there is no other material information relating to the affairs of the Company that have not been generally disclosed.
If the Company fails to make its annual declarations and interim declarations by September 30, 2021 and October 5, 2021, respectively, the principal regulator may impose a trade ban so that all trades in the securities of the Company cease during this period of time. as the primary regulator may deem appropriate.
Radient is a commercial manufacturer of high quality, new and diverse cannabis extracts and packaged products, specializing in identifying existing market gaps and providing products that fill those gaps to consumers. Drawing on scientific and industrial expertise, Radient develops specialized products that contain a unique and highly technical range of cannabinoid and terpene profiles, while meeting the highest quality and safety standards. Radient also operates a scientific and product testing lab that provides unique solutions to cannabis and wellness spaces. Please visit www.radientinc.com for more information.
For more information please contact:
Harry Kaura, CEO and Director
Phone. : 780 465 1318
Caution regarding forward-looking information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information includes, without limitation, statements regarding default, including the Company’s ability to make annual filings and interim filings before September 30, 2021 and October 5, 2021, respectively. In general, forward-looking information can be identified by the use of forward-looking terms such as “plans”, “expects” or “does not expect”, “is planned”, “budget”, “planned”, “Estimates”, “foresees”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of these words and expressions or declares that certain actions, events or results ” could ”,“ could ”,“ could ”,“ could ”or“ will be taken ”,“ occur ”or“ be reached ”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Radient’s actual results, level of activity, performance or achievements, as the case may be, to differ materially. those expressed or implied by such forward-looking information, including, but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the risks associated with exploitation in the cannabis industry; and other risks inherent in the cannabis industry. Although Radient has attempted to identify material factors that could cause actual results to differ materially from those contained in forward-looking information, other factors may cause results not to be as anticipated, estimated or expected. . There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Therefore, readers should not place undue reliance on forward-looking information. Radient does not undertake to update forward-looking information, except in accordance with applicable laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATORY SERVICES PROVIDER (AS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS COMMUNICATION.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97576