ANB Canada Provides Update on Failure to File Cease Trade Order and Announces Expected Late Filing of First Quarter Interim Financial Statements

Markham, Ontario--(Newsfile Corp. - May 24, 2024) - ANB Canada Inc. (the "Corporation") is providing an update on the status of the failure to file cease trade order ("FFCTO") imposed by the Ontario Securities Commission on May 7, 2024, prohibiting the trading by any person of any securities of the Corporation in Canada.

The FFCTO was issued as a result of the Corporation not having filed its audited annual financial statements, management's discussion and analysis and related officer certifications for the fiscal year ended December 31, 2023 (collectively, the "Annual Filings") on or before the filing deadline of April 29, 2024.

As disclosed in the Corporation's press release dated May 2, 2024, the Corporation is working diligently and cooperating with its auditors and expects that the Annual Filings will be filed no later than the week of July 8, 2024.

As a result of the delay in filing the Annual Filings, the Corporation expects that it will be unable to file its interim financial statements, the accompanying management's discussion and analysis and related officer certifications for the quarter ended March 31, 2024 (collectively, the "Interim Filings" and together with the Annual Filings, the "Required Filings") by the May 30, 2024 filing deadline. The Corporation expects that the Interim Filings will be filed no later than the week of August 12, 2024.

The Corporation expects that the FFCTO will remain in place until such time as the Required Filings are filed.

About the Business
The Corporation offers turnkey over-the-counter ("OTC") sales and distribution services to manufacturers in the Canadian Food, Drug and Mass marketplace. The Corporation not only markets, sells, warehouses and distributes consumer OTC brands, but also helps manufacturers in a number of other areas including navigating Canadian regulatory guidelines.

Further Information
For further information, please contact:

Alick Fernandes, CFO
1-647-956-6415
Email: afernandes@anbcanada.com

Notice on forward-looking statements
This release includes forward-looking statements regarding the Corporation and its business, including without limitation, statements regarding the finalization and filing of the Required Filings and the duration of the FFCTO. Such statements are based on the current expectations of management. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known an unknown risk factors and uncertainties affecting the Corporation, including risks affecting the Corporation, economic factors and the equity markets generally. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Corporation undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/210485