VANCOUVER, BC, April 29,
2025 /PRNewswire/ - ELSE NUTRITION HOLDINGS INC.
(TSX: BABY) (OTCQX: BABYF) (FSE: 0YL) (the "Company")
is providing this bi-weekly default status report in accordance
with National Policy 12-203 Management Cease Trade Orders ("NP
12-203").
On April 1, 2025, the Company
announced in a news release (the "MCTO Announcement") that
it has been granted a voluntary cease trade order ("MCTO")
by British Columbia Securities Commission in accordance with
National Policy 12-203 due to time constraints in completing the
audit procedures for the filing of its annual financial statements,
management's discussion and analysis ("MD&A") and annual
information form ("AIF")(collectively, the "Annual
Filings") for the year ended December
31, 2024 on SEDAR within 90 days of its financial year-end.
The MCTO prohibits the Chief Executive Officer and Chief Financial
Officer from all trading in securities of the Company until such
time as the Annual Filings have been filed by the Company and the
MCTO has been lifted. The MCTO does not affect the ability of other
shareholders of the Company to trade in securities of the
Company.
Pursuant to NP 12-203, the Company must file bi-weekly default
status reports in the form of further news releases during the
period of the MCTO. The Company confirms that since the date of the
MCTO Announcement: (i) there has been no material change to the
information contained as set out in the MCTO Announcement; (ii)
there has been no failure to satisfy the provisions of the
alternative information guidelines set out in NP 12-203; (iii)
there has not been any other specified default subsequent by the
Company under NP 12-203; and (iv) there is no other
material information concerning the affairs of the Company that has
not been generally disclosed.
The Company reports that it is working diligently with its
auditor to complete the audit of the financial statements for the
year ended December 31, 2024. The
company expects to file its Annual Filings by May 13, and in any event no later than
May 30, 2025, and will issue a news
release once they have been filed. Until filing of the Annual
Filings, the Company intends to satisfy the provisions of the
alternative information guidelines as required by NP 12-203.
About Else Nutrition Holdings Inc.
Else Nutrition Holdings Inc. is a food and nutrition company in
the international expansion stage focused on developing innovative,
clean, and plant-based food and nutrition products for infants,
toddlers, children, and adults. Its revolutionary, plant-based,
non-soy formula is a clean-ingredient alternative to dairy-based
formulas. Since launching its Plant-Based Complete Nutrition for
Toddlers, made of whole foods, almonds, buckwheat, and tapioca, the
brand has received thousands of powerful testimonials and reviews
from parents, gained national retailer support, and achieved rapid
sales growth.
Awards and Recognition:
- "2017 Best Health and Diet Solutions" award at Milan's Global Food Innovation Summit
- #1 Best Seller on Amazon in the Fall of 2020 in the New Baby
& Toddler Formula Category
- "Best Dairy Alternative" Award 2021 at World Plant-Based
Expo
- Nexty Award Finalist at Expo West 2022 in the Plant-Based
lifestyle category
- During September 2022, Else Super
Cereal reached the #1 Best Seller in Baby Cereal across all brands
on Amazon
For more information, visit www.elsenutrition.com or
@elsenutrition on Facebook and Instagram.
Caution Regarding Forward-Looking Statements
This press release contains statements that may constitute
"forward-looking statements" within the meaning of applicable
securities legislation. Forward-looking statements are typically
identified by words such as "will" or similar expressions.
Forward-looking statements in this press release include but are
not limited to, statements with respect to the Company filing its
annual financial statements, MD&A and AIF. These
forward-looking statements are made as of the date of this press
release. Such forward-looking statements reflect current estimates,
beliefs and assumptions, which are based on management's perception
of current conditions and expected future developments, as well as
other factors management believes are appropriate in the
circumstances. Although the Company believes the forward-looking
statements in this press release are reasonable, it can give no
assurance that the expectations and assumptions in such statements
will prove to be correct. The Company cautions investors that any
forward-looking statements by the Company are not guarantees of
future results or performance, and are subject to risks,
uncertainties, assumptions and other factors which could cause
events or outcomes to differ materially from those expressed or
implied by such forward-looking statements. Such factors and
assumptions include, among others, variations in market conditions;
currency exchange rates; the Company's ability to obtain any
necessary permits, consents or authorizations required for its
activities; the Company's ability to access further funding, to
continue its projected growth, or to be fully able to implement its
business strategies. In addition, there are known and unknown risk
factors which could cause our actual results, performance or
achievements to differ materially from any future results,
performance or achievements expressed or implied by the
forward-looking statements. Actual results may differ from the
estimates, beliefs and assumptions expressed or implied in the
forward-looking statements. Readers are cautioned not to place
undue reliance on any forward-looking statements, which reflect
management's expectations only as of the date of this press
release. The Company disclaims any 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.
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SOURCE Else Nutrition Holdings Inc.
