Indiva Announces Updated Filing Timeline for Q1 Fiscal 2020 Due to COVID-19

LONDON, Ontario, May 29, 2020 (GLOBE NEWSWIRE) — Indiva Limited (the “Company” or “Indiva”) (TSXV:NDVA) (OTCQX:NDVAF) is announcing that due to delays caused by the COVID-19 virus, it is relying on the exemption provided in Ontario Instrument 51-502 – Temporary Exemption from Certain Corporate Finance Requirements (the “Ontario Instrument“) of the Ontario Securities Commission (and similar exemptions provided by other Canadian securities regulators) to postpone the filing of the following continuous disclosure documents (collectively the “Documents“):
the Condensed Consolidated Interim Financial Statements for the three-month period ended March 31, 2020, as required by section 4.2 of National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102“); andthe Company’s Management Discussion & Analysis for the three-month period ended March 31, 2020, as required by section 5.1(2) of NI 51-102.According to the Ontario Instrument, during the period from March 23, 2020, to June 1, 2020, a person or company required to make certain filings as described in the Ontario Instrument has an additional 45 days from the deadline otherwise applicable under Ontario securities laws to make the filing. Until the Company has filed the required financial statements and management’s discussion and analysis, members of the Company’s management and other insiders are subject to an insider trading black-out policy that reflects the principles in section 9 of National Policy 11-207 – Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.There have been no material business developments since the filing of its annual financial statements and management’s discussion and analysis, filed on May 15, 2020.The Company expects to file the Documents by no later than June 12, 2020.Indiva sets the standard for quality and innovation in cannabis. As a Canadian licensed producer, Indiva creates premium pre-rolls, flower, capsules, and edible products and provides production and manufacturing services to peer entities. In Canada, Indiva produces and distributes the award-winning Bhang® Chocolate, Wana Sour Gummies, Ruby® Cannabis Sugar, Sapphire™ Cannabis Salt and other Powered by INDIVA™ products through license agreements, partnerships and joint ventures. Click here to connect with Indiva on LinkedIn, Instagram, Twitter and Facebook, and here to find more information on the Company and its products.
CONTACTSMEDIA CONTACT
Kate Abernathy, Vice President of Marketing and Communications
Phone: 613-296-5764
Email: kabernathy@indiva.comINVESTOR CONTACT
Steve Low, Investor Relations
Phone: 647-620-5101
Email: slow@indiva.com Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the contents of this press release and neither of the foregoing entities accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties’ current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Those assumptions and factors are based on information currently available to the parties. The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.