InMed Submits Form 12b-25
10 Febbraio 2023 - 3:40AM
InMed Pharmaceuticals Inc. (“
InMed” or the
“
Company”) (
Nasdaq: INM), a
leader in the pharmaceutical research, development and
manufacturing of rare cannabinoids and cannabinoid analogs, today
announces it has submitted a Form 12b-25 with the U.S. Securities
and Exchange Commission (the “SEC”) in connection with its
Quarterly Report on Form 10-Q for the period ended December 31,
2022 (the “Form 10-Q”).
Due to the recent change in the Company’s
auditors as previously announced on December 12, 2022 and a
subsequent delay in the client acceptance process, the Company will
be unable to file its financial statements for the three and six
months ended December 31, 2022 in a timely manner. The Company
intends to file a complete version of the Form 10-Q with the SEC,
together with its corresponding quarterly filings in Canada (the
“Required Filings”) within the five-day extension period afforded
by Rule 12b-25 under the Securities Exchange Act of 1934, as
amended.
Canadian Disclosure Requirements
Additionally, the Company made an application to
the British Columbia Securities Commission to approve a temporary
management cease trade order ("MCTO") under National Policy 12-203
- Cease Trade Orders for Continuous Disclosure
Defaults ("NP 12-203"), which, if granted, will prohibit
trading in securities of the Company by the Chief Executive Officer
and Chief Financial Officer of the Company until such time as the
Required Filings and all continuous disclosure requirements have
been filed by the Company, and the MCTO has been lifted. During the
period in which the MCTO is effective, the general public, who are
not insiders of the Company, will continue to be able to trade in
the Company’s listed securities. The MCTO application has been made
but there is no guarantee or assurance that the MCTO will be
granted. The Company anticipates that it will be in a position to
remedy the default by filing the Required Filings on or about
February 20, 2022. The MCTO will be in effect until the Required
Filings are filed. The Company intends to satisfy the provisions of
the alternative information guidelines set out in sections 9 and 10
of NP 12-203 so long as the Required Filings are outstanding.
About InMed: InMed
Pharmaceuticals is a global leader in the research, development and
manufacturing of rare cannabinoids, including clinical and
preclinical programs targeting the treatment of diseases with high
unmet medical needs. We also have significant know-how in
developing proprietary manufacturing approaches to produce
cannabinoids for various market sectors. For more
information, visit www.inmedpharma.com.
Investor Contact: Colin ClancyVice President,
Investor Relationsand Corporate CommunicationsT: +1.604.416.0999E:
cclancy@inmedpharma.com
Cautionary Note Regarding Forward-Looking
Information:
This news release contains "forward-looking
information" and "forward-looking statements" (collectively,
"forward-looking information") within the meaning of applicable
securities laws. Forward-looking information is based on
management's current expectations and beliefs and is subject to a
number of risks and uncertainties that could cause actual results
to differ materially from those described in the forward-looking
statements. Forward-looking information in this news release
includes statements about: the granting of the MCTO, the filing of
Required Filings and the Company’s ability to meet the requirements
of NP 12-203; being a global leader in the manufacturing and
development of rare cannabinoids and delivering new treatment
alternatives to patients that may benefit from cannabinoid-based
pharmaceutical drugs.
All forward-looking information herein is
qualified in its entirety by this cautionary statement, and InMed
disclaims any obligation to revise or update any such
forward-looking information or to publicly announce the result of
any revisions to any of the forward-looking information contained
herein to reflect future results, events or developments, except as
required by law.
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