お知らせ • Oct 01
Yooma Wellness May Be Subject to Delisting from or Other Remedies by One or Both of the Exchanges Yooma Wellness Inc. (Company) announced that its wholly-owned subsidiary Yooma Europe Limited (“Yooma Europe”) has completed the sale of Birmingham-based Vitality CBD Limited (“Vitality”), a UK-focused CBD company, for a total consideration of $2.0 million (the “Disposal”) to Psilobrain Therapeutics Inc. (“Psilobrain”). The Company has faced and is continuing to face significant financial and operational challenges and liquidity constraints which have gradually increased in severity over the last year. With the completion of the Disposal, the Company no longer has any material operating business lines or revenue generating assets. While the Company is continuing to consider all available alternatives, as set out in greater detail in the Company’s press release dated February 9, 2023, there can be no assurance at this time that the Company will be successful in addressing its liquidity constraints on a timely basis or at all. If the Company is unable to secure additional sources of liquidity, it is anticipated that the Company will have no alternative other than to pursue a liquidation, winding-up or insolvency proceeding. As a consequence of the challenges and liquidity constraints faced by the Company, it has fallen out of compliance with its continuous disclosure obligations and with a number of the rules and policies of the Canadian Securities Exchange and the AQUIS Growth Market (the “Exchanges”). The Company has been subject to a cease-trade order issued by the Ontario Securities Commission since May 8, 2023, resulting from the Company’s inability to file its annual financial statements, management discussion and analysis and CEO and CFO certifications for the year ended December 31, 2022, and its common shares have also been suspended from trading on the Canadian Securities Exchange and the AQUIS Growth Market since that date. Based on the Company’s current financial condition and the anticipated proceeds of the Disposal, the Company no longer expects that it will be able to complete the steps necessary to lift the cease trade order on a timely basis or at all, and notes that it may be subject to delisting from or other remedies by one or both of the Exchanges. お知らせ • Feb 10
Yooma Announces an Exit from Japan and Wind-Down of Operations Yooma Wellness Inc. provided a corporate update. The Company is engaged in an ongoing operational restructuring aimed at addressing depressed market conditions in the CBD wellness industry, the Company's increasing liquidity constraints and lack of working capital. The initial phases of this restructuring involved the wind-down of the Company's operations in the United States last year, and has gradually expanded to include the Company's operations in other unprofitable markets. In parallel with these restructuring initiatives, the Company has also been engaged in a continuing review of strategic alternatives for the Company, however, that process has to date been unsuccessful in identifying a path forward.