Vancouver, British Columbia, Canada, June 25, 2024 – TheNewswire – PanGenomic Health Inc. ("PanGenomic Health" or the "Company") (CSE: NARA) provides, further to its news release of June 11, 2024 (the “Third MCTO Update”), an update with respect to the management cease trade order (the “MCTO”) dated April 30, 2024 issued by the British Columbia Securities Commission (the “BCSC”) in connection with the delay by the Company in filing its audited annual consolidated financial statements for the financial year ended December 31, 2023 (the “Annual Financial Statements”) and the related management’s discussion and analysis and CEO and CFO certificates for the same period (collectively, with the Annual Financial Statements, the “Annual Filings”) before the filing deadline of April 29, 2024 (the “Annual Filing Deadline”).

 

The Company has been working closely with its auditors and expects to file the Annual Filings on or before June 28, 2024.

 

The Company’s inability to make the Annual Filings by the Annual Filing Deadline was due to delays in the Company’s ability to pay the outstanding invoices and retainer of its auditors, which invoices and retainer have since been paid.

 

As a result of the delay in filing the Annual Filings, the Company was unable to file its interim financial statements for the three months ended March 31, 2024 and the related management's discussion and analysis and CEO and CFO certificates (collectively, the "Interim Filings") by the filing deadline for the Interim Filings.  The Company expects to file the Interim Filings within 5 business days after the filing of the Annual Filings.

 

Pursuant to the MCTO, the Chief Executive Officer and Chief Financial Officer of the Company are restricted from trading in the securities of the Company until such time as the Company files the Required Filings and the BCSC revokes the MCTO. The MCTO does not affect the ability of shareholders of the Company to trade their securities.

 

The Company is providing this updated status report in accordance with National Policy 12-203 - Management Cease Trade Orders (“NP 12-203”). Until such time as the Company files the Required Filings and the MCTO has been revoked, the Company will follow the alternative information guidelines set out in NP 12-203 (the “Guidelines”), including the issuance of bi-weekly default status reports in the form of news releases.

 

Pursuant to the Guidelines, the Company confirms that, as of the date of this news release and except as noted above, (a) there have been no changes to the information contained in the Third MCTO Update that would reasonably be expected to be material to an investor; (b) there have been no failures by the Company to fulfill its stated intentions with respect to satisfying the provisions of the alternative reporting guidelines under NP 12-203; (c) there has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the Third MCTO Update; and (d) there is no other material information concerning the affairs of the Company that has not been generally disclosed.

 

About PanGenomic Health

 

PanGenomic Health is a precision health company that has developed a self-care digital platform to deliver personalized, evidence-based information about natural treatments. The Company’s initial focus is to support mental health. Registered as a British Columbia benefit company, PanGenomic Health's mission is to promote and improve the health and wellness of people and society by providing a technology platform that identifies plant-based solutions tailored to the health profile of each individual.

 

For more information, please contact:

 

Jerry Lai, Investor Relations

PanGenomic Health Inc.

+1 778 743 4642

ir@pangenomic.com

 

This news release includes certain statements that may be deemed “forward-looking statements”, including statements respecting the services to be provided by PanGenomic Health and the consideration to be paid to PanGenomic Health. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward looking statements. Although PanGenomic Health believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because PanGenomic Health can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in PanGenomic Health’s disclosure documents which can be found under PanGenomic Health’s profile on www.sedarplus.ca.

 

The Canadian Securities Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.