C21 Investments Inc. Provides Default Status Report and Update on Annual Filings
C21 Investments Inc. Faces Management Cease Trade Order Due to Delay in Filing Annual Financial Statements
Vancouver, British Columbia– C21 Investments Inc. (CSE: CXXI) (OTCQX: CXXIF), a leading vertically integrated cannabis company, is currently facing a management cease trade order (MCTO) from the British Columbia Securities Commission (BCSC) due to a delay in filing its audited consolidated financial statements for the year ended January 31, 2024.
The company announced on May 31, 2024, that it had applied for the MCTO as its auditors required additional time to complete the audit of the Annual Financial Statements. This delay was partly due to the company changing its financial year end from January 31 to March 31, as well as a recent change in auditors earlier in the year.
Despite the delay, C21 Investments and its auditors are working diligently to complete the Annual Filings, which are expected to be filed around July 15, 2024. The company assures shareholders that there have been no material changes since the Announcement on May 31, 2024, and it intends to continue issuing bi-weekly default status reports until the Annual Filings are completed.
Investors and stakeholders can rest assured that C21 Investments is committed to meeting the requirements set out in the alternative information guidelines and will provide updates as the situation progresses. For further information, please contact Investor Relations at info@cxxi.ca or +1 833 289-2994.
About C21 Investments Inc.
C21 Investments Inc. is a vertically integrated cannabis company that focuses on cultivating, processing, and distributing quality cannabis and hemp-derived consumer products in the United States. The company owns several well-known brands and is dedicated to creating value through strategic acquisitions and market expansion.
While facing challenges with the MCTO, C21 Investments remains optimistic about its future prospects and is determined to overcome the current obstacles. Stay tuned for more updates as the company works towards resolving the delay in filing its Annual Financial Statements.