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Hollister Biosciences Inc. Announces Delay in Filing Annual Financial Statements

VANCOUVER, BC –May 4th, 2021 – Hollister Biosciences Inc. (CSE:HOLL,
OTC:HSTRF, FRANKFURT:HOB) (“Hollister” or the “Company”) announces that its
annual financial statements for the year ended December 31, 2020, including the related
management discussion and analysis, and CEO and CFO certifications (collectively, the
“Annual Financial Filings”) were not filed by the required filing deadline of April 30,
2021 (the “Filing Deadline”).
The Annual Financial Filings were not filed on or before the Filing Deadline due to the
location of the operations and the COVID-19 pandemic that lead to delays in coordinating
the collection of data and documentation for inventory. The Company has been advised
by its auditors, Davidson & Company LLP, that they need more time to complete the audit.
The Company is working on the steps required to complete the Annual Financial Filings
and is working diligently to be able to file the Annual Financial Filings as soon as possible.
The Company will provide updates as further information relating to the Annual Financial
Filings becomes available.
The Company has applied to the applicable securities regulatory authorities and received a
management cease trade order (“MCTO”) imposed against the Chief Executive Officer
and Chief Financial Officer of the Company precluding them from trading securities of the
Company. The MCTO will be in effect until the Annual Financial Filings are filed, and
requires that the Annual Financial Filings be filed on or before July 2nd, 2021.
Until the Annual Financial Filings are filed, the Company intends to issue bi-weekly
default status reports in accordance with National Policy 12-203 - Management Cease
Trade Orders. The Company intends to satisfy the provisions of the Alternative
Information Guidelines during the period it remains in default of the filing requirements.
The Company confirms that there is no other material information relating to its affairs that
has not been generally disclosed.
About Hollister Biosiences Inc.
Hollister Biosciences Inc. is a multi-state cannabis company with a vision to be the soughtafter premium brand portfolio of innovative, high-quality cannabis & hemp products.
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Hollister uses a high margin model, controlling the whole process from manufacture to
sales to distribution or seed to shelf. Products from Hollister Biosciences Inc. include
HashBone, the brand's premier artisanal hash-infused pre-roll, along with concentrates
(shatter, budder, crumble), distillates, solvent-free bubble hash, pre-packaged flower, prerolls, tinctures, vape products, and full-spectrum high CBD pet tinctures. Hollister
Cannabis Co. additionally offers white-labeling manufacturing of cannabis products. Our
wholly-owned California subsidiary Hollister Cannabis Co is the 1st state and locally
licensed cannabis company in the city of Hollister, CA birthplace of the "American Biker".
Website: www.hollisterbiosciences.co
The CSE, nor its regulation services provider, does not accept responsibility for the adequacy or
accuracy of this release.
Forward-Looking Information
Forward-Looking Information: This news release includes certain statements that may be deemed
"forward-looking statements". The use of any of the words "anticipate", "continue", "estimate",
"expect", "may", "will", "would", "project", "should", "believe" and similar expressions are
intended to identify forward-looking statements. Although the Company believes that the
expectations and assumptions on which the forward-looking statements are based are reasonable,
undue reliance should not be placed on the forward-looking statements because the Company can
give no assurance that they will prove to be correct. Since forwardlooking statements address
future events and conditions, by their very nature they involve inherent risks and uncertainties.
These statements speak only as of the date of this News Release. Actual results could differ
materially from those currently anticipated due to a number of factors and risks including various
risk factors discussed in the Company's disclosure documents which can be found under the
Company's profile onwww.sedar.com
For further information: HOLLISTER BIOSCIENCES INC.: Investor Relations Contact,
Melanie Barbeau: [e-mail], Tel: [phone] or [phone],
www.renmarkfinancial.com; Company Contact: Kelvin Lee: [e-mail], Tel: 604-961-