Connect with us
Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

News

DionyMed to Delay Filing of Financial Statements for the Period Ended December 31, 2018

gbafNews28

DionyMed Brands Inc. (CSE: DYME)(OTC:DMYEF) (DionyMed or the Company) reports that it expects to be late in filing its audited financial statements and managements discussion and analysis for the year ended December 31, 2018 (the Annual Financial Statements). In the course of completing the audit, it was determined that, in connection with the 2018 acquisitions of each of DionyMed, Inc. and Herban Industries, Inc. by DionyMed Holdings Inc. reported on the Companys audited financial statements for the period ended February 28, 2018, rather than applying IFRS 3 business acquisition accounting, continuity of interest accounting has been deemed to be more appropriate under the circumstances. This will require the restatement of the Companys financial statements for periods reported on prior to December 31, 2018. The changes include eliminating previously-recognized fair value adjustments, including the associated intangible assets and goodwill recognized initially upon acquisition. The impacts of the restatements are non-cash, non-revenue and are expected to be restricted to the Statement of Financial Position. As a result of the restatements, additional work is required by the auditors in order to complete the audit of the 2018 annual financial statements, which work cannot be completed for several weeks.

DionyMed has made an application for a management cease trade order and intends to follow the alternate information guidelines contained in National Policy 12-203 for so long as it has not filed the Annual Financial Statements. DionyMed expects to file the Annual Financial Statements on or before May 31, 2019.

On behalf of the Board,

Edward Fields

Chief Executive Officer

About DionyMed

Founded in 2017, DionyMed is a multi-state cannabis brands platform, supporting cultivators, manufacturers and award-winning brands in the medical and adult-use cannabis markets. DionyMed sells branded products in every category from flower to vape cartridges, concentrates and edibles. DionyMed serves cannabis consumers through retail dispensary distribution and direct-to-consumer fulfillment with its growing portfolio of award-winning brands. Learn more at dionymed.com and follow @DYME_Inc on Twitter and LinkedIn.

Cautionary Statement on Forward-Looking Statements

The information in this document contains certain forward-looking statements with respect to activities of the Company, based on assumptions about future courses of action, including with respect to the filing of the Annual Financial Statements. Although management has a reasonable basis for the conclusions drawn, risk factors and uncertainties may cause actual results to differ materially from those currently anticipated in such statements. In view of these uncertainties we caution readers not to place undue reliance on these forward-looking statements. Statements made in this document are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any statements made herein, except in accordance with applicable securities laws.

Edward Fields, CEO
Edward.Fields@DYME.com
669-232-5270

Peter Kampian, CFO
pkampian@dionymed.com
647-948-8387

Investor Contacts:
Phil Carlson / Erika Kay
KCSA
Strategic Communications
Phone: (212) 896-1233
Email: pcarlson@kcsa.com
/ ekay@kcsa.com

Media Contacts:
Kate Tumino / Annie Graf
KCSA Strategic
Communications
Phone: (212) 896-1252 / (786) 390-2644
Email: ktumino@kcsa.com / agraf@kcsa.com

Advertisement
Editorial & Advertiser disclosure

Call for Entries

Global Banking and Finance Review Awards Nominations 2022
2022 Awards now open. Click Here to Nominate

Newsletters with Secrets & Analysis. Subscribe Now

Recommended

Global Banking & Finance Review® is a leading financial portal and Print Magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management. Copyright © 2010-2021 GBAF Publications Ltd - All Rights Reserved.