Chalis Brands Ltd announces change of auditors

Chalis Brands Limited

Chalis Brands Limited

PORTLAND, Ore., August 10, 2022 (Globe Newswire) — Chalice Brands Ltd. (CSE: CHAL) (OTCQB: CHALF) (“The”company” either “chalisa brand“), a leading consumer-driven cannabis company specializing in retail, production, processing, wholesale and distribution, today announced that it has transferred its auditor from Baker Tilly US, LLP to M&K CPAS, PLLC (“Successor Auditor”). changed into. “Ex-Auditor”) due to the delay in the completion of the Financial Audit of the Company for 2021. The Company has requested that the Ex-Auditor resign as the Auditor of the Company with effect from August 10, 2022. The Board of Directors of the Company has appointed a successor Auditor as the Auditor of the Company with effect from August 10, 2022, till the next Annual General Meeting of the Company.

Pursuant to National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”), the Company will make changes to the Auditor’s Notice (“Notice”) on the SEDAR, with letters from both the former auditor and the successor auditor. , as applicable, with each letter confirming agreement with the statements contained in the notice.

The former auditor had not issued any audit report till date and therefore there was no objection to the former auditor’s report on any of the audited financial statements of the company. There is no reportable event between the company and the former auditor.

M&K CPAs, PLLC is a Houston based professional accounting limited liability partnership specializing in public company audits. The firm provides comprehensive incorporation, accounting, tax and consulting services to businesses of all sizes with their financial compliance and advisory needs.

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About Chalis Brands Ltd.
Forty Brands is a leading consumer-driven cannabis company specializing in production, processing, wholesale, distribution and retail with 12 owned and 6 managed dispensaries in and around Portland, Oregon. The company is committed to developing a dynamic portfolio built around recognized brands of Chalice Brands including Chalice Farms, Left Coast Connection, Homegrown Oregon and Cannablis & Co., with a focus on health and wellness. Chalice operates nationally through Fifth End Route and has operations in Oregon and California. meeting For regular updates.

Investor Relations:
John Varghese
Executive Chairman
Chalisa Brands Limited
[email protected]

Neither the Canadian Securities Exchange nor its regulation service provider (as defined in the Exchange’s policies) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer: This press release contains “further information” within the meaning of applicable securities law. Forward-looking information includes, but is not limited to, statements regarding the Company’s future business operations, management’s opinion or beliefs, and future business goals. Generally, forward-looking information is referred to as “planned”, “expected” or “not expected”, “expected”, “budgeted”, “scheduled”, “estimate”, “forecast”, “intended”, “projected” or “projected”. is not”, or “believe”, or variations of such words and phrases or states that “could be”, “could be”, “will be”, “could be” or “taken” Will”, “may be” or “could be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause the Company’s actual results, level of activity, performance or achievements to differ materially from those expressed or implied by such forward-looking information. These risks include, but not limited to, general business, economic and competitive uncertainties, regulatory risks, market risks, risks inherent in manufacturing and retail operations such as unexpected costs and production shutdowns, difficulties maintaining brand loyalty, and other risks to the cannabis industry. are not limited. , Although the Company has attempted to identify significant factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause the results to be not predictable, anticipated or intended. No assurance can be given that such information will prove to be accurate, as actual results and future events may differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is provided for the purpose of presenting information about management’s current expectations regarding the future and to warn readers that such information may not be suitable for other purposes. The Company undertakes not to update any forward-looking information except under applicable securities laws. This press release does not constitute an offering of securities for sale in the United States, and such securities may not be offered or sold in the United States absent registration or exemption from registration or exemption from registration.