Calyx Ventures Granted Management Cease Trade Order

Vancouver, British Columbia--(Newsfile Corp. - June 15, 2020) -  Calyx Ventures Inc. (TSXV: CYX) (the "Company") announced today that the British Columbia Securities Commission has granted the Company's request for a management cease trade order (the "MCTO"). The application for the MCTO was made by the Company in connection with the previously announced anticipated delay in the filing of its financial statements for the year ended December 31, 2019 and the related management's discussion and analysis and certifications (the "Annual Filings").

As previously disclosed, the Company requires additional time to complete the Annual Filings, including the audit of the Company's consolidated financial statements for the year ended December 31, 2019. The Company will work with its auditors to complete the audit of the Company's financial statements, and to file the Annual Filings, by July 15, 2020.

During the period during in which the MCTO is in effect, the general investing public will continue to be able to trade in the Company's securities. However, for the duration of the MCTO, the Company's Chief Executive Officer will not be able to trade in the Company's common shares. The Company has imposed an insider trading blackout pending filing of the Annual Filings. The Company will comply with the alternative information guidelines set forth in National Policy 12-203 for so long as it remains in default of the requirement to file the Annual Filings. The MCTO will remain in effect until the Company files the Annual Filings or the MCTO is otherwise revoked or varied.

For further information about Calyx, please visit www.calyxbio.com or contact:

Roger Forde
Chief Executive Officer
Calyx Ventures Inc.

Tel: 604.880.8822
Email: rogerf@calyxbio.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/57876

info