SBD Capital Corp. Announces Cease Trade Order and Administrative Reorganization
Toronto, Ontario--(Newsfile Corp. - August 1, 2019) - SBD Capital Corp. (CSE: SBD), (the "Company") announces that a failure-to-file cease trade order will be issued today as a result in the delay in filing it's annual audited financial statements, management discussion and analysis and related certifications for the year-ended March 31, 2019 (the "Annual Financial Materials").
The Company intends to file the Annual Financial Materials as soon as possible. The delay in filing was a result of a management transition as well as a change in auditor from the prior year. The Company regrets this unnecessary delay in filing and intends to rectify this as soon as possible. The Company plans on taking advantage of this opportunity to strengthen its financial controls and measures therefore providing increased value to its shareholders moving forward.
Management will emerge from this with the necessary administrative changes to improve financial reporting and allow the Company to move forward with its international expansion plans.
About Secret Barrel Distillery
Secret Barrel Distillery is a craft distillery operation focusing on a sustainable, small batch approach delivering on evolving consumer preferences for pure, inspired and authentic alcoholic beverages. To learn more about Secret Barrel Distillery, visit www.secretbarreldistillery.com or follow www.twitter.com/secretbarrelyyc and www.instagram.com/secretbarreldistillery
About SBD Capital Corp.
SBD Capital Corp. was established in 2017 to identify and invest in venture and early stage craft alcohol companies, focusing on innovative brands built around human capital. As a pioneer in craft alcohol investing, the Company remains committed to innovation, social partnerships, and sustainable growth.
For further information, contact Deborah Jones, Corporate Communications, at 647-946-2286 or visit the Company's website at www.sbdcapitalcorp.com
On behalf of the Board,
SBD Capital Corp.
John Dyer, Interim CEO, CFO & Director
This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
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