VANCOUVER, BC, Nov. 15, 2022 /CNW/ - PlantX Life Inc. (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) ("PlantX" or the "Company"), the digital face of the plant-based community, operating a one-stop shop for plant-based products, provided an update on the delay in the filing of the Company's annual financial statements, management's discussion and analysis and related certifications for the fiscal year ended March 31, 2022 (collectively, the "Annual Filings") and its financial statements, management's discussion and analysis and related officer certifications for the three-month period ended June 30, 2022 (collectively, the "Interim Filings").
The Company's 2022 audit currently remains ongoing and, as previously disclosed, is experiencing delays caused by the need to complete the previously announced restatement of the Company's annual audited financial statements for the fiscal year ended March 31, 2021 and the implementation of additional internal control procedures as a result of the restatement process. Trading in the Company's securities currently remains subject to a general "failure to file" cease trade order issued on October 18, 2022 by the British Columbia Securities Commission pursuant to National Policy 11-207 – Failure to File Cease Trade Orders and Revocations in Multiple Jurisdictions.
The Company is working diligently with the auditors to complete and file the Annual Filings and the Interim Filings and expects to have the audit of the Annual Filings completed, and the Annual Filings filed, no later than November 30, 2022. The Company expects the Interim Filings to be filed concurrently with or shortly after the filing of the Annual Filings. The Company is currently not subject to any insolvency proceedings and there is no other material information concerning the affairs of the Company that has not generally been disclosed.
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