#Canada #Vancouver #MCTO #Else Nutrition #Audit Compliance

Else Nutrition's Bi-Weekly Update on Default Status

Else Nutrition Holdings Inc. has recently provided a crucial bi-weekly default status report, reflecting on its ongoing commitment to transparency amid regulatory challenges. The company, listed on multiple exchanges (TSX: BABY, OTCQX: BABYF, FSE: 0YL), is currently navigating a management cease trade order (MCTO) initiated by the British Columbia Securities Commission due to delays in completing the annual audit of its financial statements for the fiscal year ending December 31, 2024.

Understanding the MCTO

On April 1, 2025, Else Nutrition announced this voluntary order, which affects the company's Chief Executive Officer and Chief Financial Officer, prohibiting them from engaging in any securities trading until the annual filings are completed and the order is lifted. However, it’s essential to note that this order does not impede other shareholders from trading their shares.

Commitment to Compliance

As part of compliance with the National Policy 12-203 Management Cease Trade Orders, Else Nutrition is committed to delivering bi-weekly updates during this process. In its most recent report, the company confirmed that there have been no material changes regarding the information initially provided in the MCTO announcement. They have also indicated that there have been no failures to meet the alternative information guidelines set forth by the regulatory body.

Current Progress and Future Outlook

The company emphasizes its diligence in working alongside its auditor to finalize the required annual financial statements. Else Nutrition expects to submit all necessary filings by April 23, 2025, and no later than May 30, 2025. Once submitted, the company plans to issue a news release to inform stakeholders of this significant milestone.

About Else Nutrition

Else Nutrition is at the forefront of nutrition innovation, particularly within plant-based food products for various age groups, from infants to adults. Their unique non-soy formula stands out as a clean alternative to traditional dairy-based options. Since the launch of their Plant-Based Complete Nutrition for Toddlers, Else Nutrition has garnered significant attention, achieving rapid growth supported by positive testimonials from parents and robust sales.

The company's accolades include winning the "Best Health and Diet Solutions" award at Milan's Global Food Innovation Summit in 2017, being named the #1 Best Seller on Amazon in the New Baby Toddler Formula category in Fall 2020, and receiving the award for the Best Dairy Alternative at the World Plant-Based Expo in 2021.

For further insights and updates, stakeholders can visit Else Nutrition's official website at www.elsenutrition.com or follow their social media pages on platforms like Facebook and Instagram.

Caution on Forward-Looking Statements

This report includes forward-looking statements that reflect the company's current beliefs and projections about future events. However, these statements are subject to risks and uncertainties, and the actual outcomes may vary significantly. Investors are advised to remain cautious and avoid placing excessive reliance on these expectations until the annual filings are completed and the MCTO is lifted.