Sugarbud Announces Postponement of Filing of Annual Financial Statements and MD&A Due to COVID-19 Related Delays

CALGARY, April 29, 2020 /CNW/ - Sugarbud Craft Growers Corp. (TSXV: SUGR, SUGR.WT) ("Sugarbud" or the "Company") announces that due to delays caused by COVID-19, it will postpone the filing of its annual financial statements ("Financial Statements") and accompanying management's discussion and analysis ("MD&A") for the year ended December 31, 2019, in reliance on the exemption provided in ASC Blanket Order 51-517 Temporary Exemption from Certain Corporate Finance Requirements (and similar exemptions provided by the other Canadian securities regulators). The Company will file the Financial Statements and MD&A no later than June 1, 2020.

Until the Company has filed the Financials Statements and MD&A, 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.

Sugarbud confirms that there have been no material developments, other than those disclosed through news releases, since the filing of its interim consolidated financial statements for the period ended September 30, 2019.

About Sugarbud

Sugarbud is a federally licensed Alberta based craft cannabis company, focused on the cultivation and production of genetically diverse, exceptionally high quality, select-batch cannabis products. Our mission is to delight the most discerning cannabis consumer and evolve the way people think about incorporating cannabis into their daily lives.

http://www.sugarbud.ca/

Cautionary Statement Regarding Forward-Looking Information

Certain statements contained in this press release may 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", "proposed" 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 Company's current believe or assumptions as to the outcome and timing of such future events. Such forward-looking information is subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. In particular, this press release contains forward-looking information relating to the anticipated filing of the Financial Statements and MD&A. Various assumptions or factors are typically applied in drawing conclusions or making the forecast or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. The forward-looking information contained in this press release is made as of the date hereof and the Company is 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.

Neither the TSXV nor its regulation services provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

SOURCE SugarBud Craft Growers Corp.

John Kondrosky, Chief Executive Officer, Sugarbud Craft Growers Corp., Phone: [phone], E-mail: [email protected]; Investor Relations Contact: Gary Perkins, President, Tekkfund Capital Corp., Tel: [phone], E-mail: [email protected], Website: http://www.sugarbud.ca/, Address: Suite 620, 634 - 6th Avenue S.W., Calgary, Alberta T2P 0S4

Related Links

https://www.sugarbud.ca/