CALGARY,
AB, Sept. 9, 2022 /CNW/ - Sugarbud Craft
Growers Corp. (TSXV: SUGR) (TSXV: SUGR.DB) (TSXV: SUGR.WR) (TSXV:
SUGR.WS) (TSXV: SUGR.WT) (OTCQB: SBUDD) ("Sugarbud" or the
"Company") provides an update with respect to the management cease
trade order (the "MCTO") issued by the Alberta Securities
Commission on August 30, 2022. The
MCTO was issued in connection with the delayed filing of Sugarbud's
Q2 2022 interim financial statements, the related management's
discussion and analysis and related CEO and CFO certificates, which
were due to be filed by August 29,
2022 (collectively, the "Filings"). The MCTO does not
affect the ability of shareholders who are not insiders of the
Company to trade their securities.
The delay in completing the Filings is the result of staffing
limitations faced by the Company, which have resulted in additional
time being required to prepare the Filings. The Company continues
to work diligently on completing these, and expects to complete the
Filings by September 30, 2022. This
is within the previously-estimated four-week extension period, and
the Company will use its best efforts to complete the process
within this timeframe.
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 that as of the date of this news release, the only
material change to the information contained in the announcement
issued on August 19, 2022 relates to
the resignation of John Kondrosky as
President, Chief Executive Officer, and Director, the resignation
of Janice Comeau as a Director, and
the appointment of Dan Wilson as
President and CEO, which was announced in a news release filed on
August 22, 2022. The Company
confirms that there is no other material information concerning the
affairs of the Company that has not been generally disclosed.
About Sugarbud
"Hand-Crafted Cannabis for a New Era"
Sugarbud is a consumer-driven craft cannabis company focused on
the cultivation and production of superior, select-batch, craft
cannabis products. Our vision and mission are to become a trusted
and well-respected consumer brand renowned for providing
exceptional high-quality craft cannabis products to legal markets
by delighting the most discerning of cannabis consumers.
The Sugarbud Craft Cannabis Collection offers consumers
"Hand-Crafted Cannabis for a New Era". The Company is proudly
Albertan and is proud to share Western
Canada's long tradition of exceptional craft cannabis with
the most discerning of enthusiasts. Sugarbud strives to define the
intersection of product craftsmanship, quality, and value for
consumers in the Canadian craft cannabis space.
Sugarbud Craft Cannabis products are currently available to
adult recreational consumers in the Yukon
Territory, British
Columbia, Alberta,
Saskatchewan, Manitoba, Ontario and nationally to registered medical
patients through MendoCannabis.ca.
We Take Pride.
We Take Our Time.
Experience The Difference.
Websites:
http://www.sugarbud.ca/
http://craftcannabiscollection.ca/
The TSXV has not in any way passed upon the merits of and has
neither approved nor disapproved the contents of this news
release.
SOURCE Sugarbud Craft Growers Corp.