For the love of god, let it be good THOUGHTFUL BRANDS INC. ANNOUNCES DELAY OF FILINGS
Vancouver, British Columbia, Canada – April 29, 2021 – Thoughtful Brands Inc. (CSE: TBI),
(OTCQB: PEMTF), (FWB: 1WZ1) (the “Company”) announces that it is anticipating a delay in
filing its audited financial statements for the year ended December 31, 2020, and the related
management’s discussion and analysis, and CEO and CFO certifications (collectively, the
“Required Filings”), which are required to be filed on or before April 30, 2021.
In connection with the anticipated delay, the Company has applied to the applicable Canadian
securities regulators requesting that a voluntary management cease trade order (“MCTO”) be
imposed to restrict trading in the Company’s securities by insiders of the Company, as opposed
to a general cease trade order, which would restrict all trading in the Company's securities. If
granted, the MCTO will be in effect until the Required Filings are filed or until it is revoked or
varied.
The majority of the Required Filings have been prepared, but the Company is unable to complete
and file such materials as a result of delays associated with collection of the required data and
documentation to complete the audit of the Company and its various subsidiaries. Restrictions
on travel resulting from the ongoing COVID-19 pandemic have limited access to operations in the
United States and Europe. The Company is continuing to work with its auditors to complete the
required audit work, and the Company expects being in a position to file the Required Filings no
later than May 14, 2021.
The Company confirms that it intends to satisfy the provisions of the alternative information
guidelines described in sections 9 and 10 of National Policy 12-203 – Management Cease Trade
Orders for so long as it remains in default of the requirement to file the Required Filings. The
Company has not taken any steps towards any insolvency proceeding and the Company has no
material information to release to the public. The Company has made t
