Brand X Lifestyle Corp. to Rely on Temporary Blanket Relief for Required Filings
Vancouver, British Columbia--(Newsfile Corp. - May 27, 2020) - Brand X Lifestyle Corp., (CSE: BXXX) ("Brand X" or the "Company") today announced that it will be delaying the filing and delivery of certain of its continuous disclosure documents, in accordance with British Columbia Instrument 51-515 Temporary Exemption from Certain Corporate Finance Requirements of the British Columbia Securities Commission (the "Blanket Exemption Order") which was adopted for the purpose of providing certain filing and other relief to issuers in light of the challenges posed by the COVID-19 pandemic.
The Company is relying on the Blanket Exemption Order in delaying the filing of its interim financial report required by section 4.4 of National Instrument 51-102 and related management discussion and analysis required by subsection 5.1(2) of National Instrument 51-102 for the period ended March 31, 2020 (together, the "Interim Financial Report") and the filing of certifications of the Interim Financial Report required pursuant to National Instrument 52-109 (collectively, the "Required Interim Filings") and compliance with the delivery requirements of applicable securities laws relating to the Required Interim Filings. The delay is as a result of the Company's acquisition of a new subsidiary, CBIO Brand Development Inc., at the end of the first quarter.
The officers and directors of the Company and certain other persons will be subject to a trading black-out that reflects the principles in section 9 of National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions pursuant to which such persons are prohibited from trading in any securities of the Company until the Required Interim Filings are filed on SEDAR.
The Company currently intends to make the Required Interim Filings by June 30, 2020.
Since the filing on April 27, 2020 of the Company's audited financial statements and related management discussion and analysis for the period ended December 31, 2019, there have been no material business developments in respect of the Company, other than as set out above.
About Brand X Lifestyle Corp.
Brand X (CSE: BXXX) seeks investment opportunities in early to mid-stage blockchain and emerging technology companies. Brand X is dedicated to disciplined due diligence, governance, and an investment process that results in highly qualified investment opportunities.
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