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VANCOUVER, BC / ACCESSWIRE / July 30, 2024 / Nepra Foods Inc. (CSE:NPRA)(FSE:2P6)(OTC Pink:NPRFF) ("Nepra Foods" or the "Company"), wishes to announce that its annual financial statements for the year ended March 31, 2024, including the related management discussion and analysis, and CEO and CFO certifications (collectively, the "Annual Filings") has not been filed as required under Canadian securities legislation by the required filing deadline of July 29, 2024 (the "Filing Deadline").
The Company is working diligently with its accounting staff and external auditors to file the Annual Filings as soon as practicable; however, the Annual Filings were not filed before the Filing Deadline due to certain capacity issues with the Company's auditor substantially derived from the Company's prior focus on completing the Company's previously outstanding filings, which were filed on May 1, 2024, which resulted in a later initiation of the auditor's audit procedures in connection with the Annual Filings. The Company currently expects to be able to file the Annual Filings on or before August 29, 2024.
The Company has applied to the applicable Canadian securities regulatory authorities and received a management cease trade order related to the Company's securities to be imposed against the Chief Executive Officer and Chief Financial Officer of the Company to trade securities of the Company. The management cease trade order will be in effect until the Annual Filings are filed and requires that the Annual Financial Filings be filed on or before August 29, 2024.
Until the Annual Filings are filed, the Company intends to provide information in accordance with National Policy 12-203 Management Cease Trade Orders for as long as the Annual Filings remain outstanding, including the issuance of bi-weekly default status reports in the form of a news release, if applicable.
About Nepra Foods Inc.
Nepra Foods is specialty food company focused on innovative and proprietary allergen and gluten-free food ingredient technologies. The company supports food manufactures globally with formulations, ingredients and technical support for the production of the next generation of healthy, nutritious foods. For more information on the company, visit www.neprafoods.com.
ON BEHALF OF THE BOARD OF DIRECTORS
David Wood, Chief Operating Officer and Interim CFO
investors@neprafoods.com
Investor Relations Toll-free (844) 566-1917
The CSE has neither approved nor disapproved the contents of this news release. The CSE does not accept responsibility for the adequacy or accuracy of this release.