Nerium Biotechnology Provides Update on Status of its Q1 2020 Filings - Announces Reliance on Temporary Regulatory Filing Relief
SAN ANTONIO, TX, May 29, 2020 /CNW/ - Nerium Biotechnology, Inc. (the "Company") is providing an update on the status of its interim condensed consolidated financial statements, accompanying management's discussion and analysis and related certifications (collectively, the "Q1 2020 Filings") for the three-months ended March 31, 2020.
On March 23, 2020, the Canadian Securities Administrators published temporary blanket relief for market participants, which provides a 45-day filing extension for certain filings normally required to be made on or before June 1, 2020 as a result of the COVID-19 pandemic.
The Company is relying on the temporary exemption granted pursuant to section 7 of Ontario Instrument 51-502 Temporary Exemption from Certain Corporate Finance Requirements with respect to the requirement to file its Q1 2020 Filings as per sections 4.4 and 5.1(2) of National Instrument 51-102 Continuous Disclosure Obligations and section 5.1 of National Instrument 52-109 Certification of Disclosure in Issuers' Annual and Interim Filings. The Company expects to file its Q1 2020 Filings no later than July 29, 2020.
Until the Q1 2020 Filings are filed, management and other insiders of the Company are subject to a trading black-out policy that reflects the principles of section 9 of National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.
The Company confirms that, other than as previously disclosed in the Company's press releases, there have not been any material business developments since the filing of the its interim condensed consolidated financial statements for the three and nine-month periods ended September 30, 2019.
About Nerium Biotechnology, Inc.
Nerium Biotechnology, Inc. is a biotechnology company involved in the research, product development, manufacture and marketing of Nerium oleander-based products. The Company's shares are not listed on any stock exchange or quotation system.
Forward Looking Statements: Statements made in this press release that relate to future plans, expectations, events or performances are forward looking statements. Forward-looking statements are not based on historic facts, but rather on current expectations regarding future events. They are based on information available to management and/or assumptions management believes are reasonable. Many factors could cause future events and outcomes to differ materially from those discussed in the forward-looking statements. Although the forward-looking statements are based on what management believes are reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with these forward-looking statements. The forward-looking statements in this press release are made as of the date hereof and, except as required by applicable securities laws, the Company does not assume any obligation to update or revise such forward-looking statements. More information about the Company is available in its disclosure documents, all of which are available on the Company's issuer profile on SEDAR at www.sedar.com.
SOURCE Nerium Biotechnology, Inc.
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