Toronto, May 18, 2022 (GlobeNewswire) – The Riyadh Group Inc. Board of Directors would like to announce that on May 3, 2022, the Ontario Securities Commission (“OSC” or “Commission”) issued an RYAH Group Inc. . And the Management Siege-Trade Order (‘MCTO’) in the case of David R. Richards and François C. Desrosiers. The order states that RYAH’s management cannot transact in the company’s securities unless all filings filed with the RYAH Commission that are currently missing and must be made under the Ontario Securities Act.
Missing files are the Annual Financial Statement of December 31, 2021; Management discussion and analysis including audited financial statements; And CEO and CFO certificates that are filed at the same time.
Since the request for MCTO, the company has worked closely with its auditors to ensure that the audit is completed as per the rules. There has been no change in the activities and issues of the RYAH Group that will qualify as a component for investors. The company expects to comply with the provisions of the Alternative Information Guidelines We no longer expect MCTO by default or consequence.
RYAH is working to raise additional capital through a private placement of subordinate voting share units. Results will be announced in due course.
The issuer intends to satisfy the provisions of the Alternative Information Guidelines described in Sections 9 and 10 of National Policy 12-203, unless it defaults to certain requirements. RYAH is not subject to any bankruptcy proceedings and there is no other material information regarding the issuer’s subject matter which has not been disclosed.
The corporation and auditors expect the audited financial statements to be submitted to SEDAR by the end of May 2022. The management and board of directors have tried their best to assist the auditors in their work so that the audit can be completed. As soon as possible. When the audit is complete, and the documents are submitted to SEDAR, the company will report in a press release.
An MCTO usually gives a corporation time to resolve ongoing disclosure issues (such as timely filing of audited financial statements) while maintaining public trading on the corporation’s securities. The directors and officers of a corporation under an MCTO cannot transact the securities of the corporation until the problem has been remedied. Once the situation is resolved, we hope the MCTO will be lifted. When the situation persists, no officer, director or issuer with special relationship to the issuer can trade securities issued by the company. All of them have been advised of this black-out and have agreed to abide by it.
About RYAH Group Inc.
RYAH is a large data and technology company that enables valuable AI-powered predictive analysis of the efficacy of plant-based drugs and other nutraceuticals administered through a range of innovative IoT-connected medical devices, including inhalers, patches and pens. RYAH’s powerful Big Data platform, the only one of its kind in the space, collects and analyzes patient data compliant with HIPAA, helping physicians and patients personalize treatment, control dosage, and better predict and monitor outcomes. The data and insights gained are invaluable for hospitals, physicians, medical scientists, insurance providers, dispensaries, licensed farmers, producers and pharmaceutical companies, and for monitoring and managing structural effects on patients based on dosage, strain, and population. Conditions, and a range of other factors. Exciting new directions include blockchain, NFT and cryptocurrency R&D that will pave the way for successful commercialization of RYAH’s big data assets. Through the above, with a relentless focus on innovation and a track record of developing win-win collaborative partnerships between relevant industries, RYAH continues to build a unique and highly valued IP portfolio.
AI: Artificial intelligence
IoT: Internet of Things
HIPAA: Health Insurance Affordability and Accountability Act
IP: Intellectual Property
R&D: Research and Development
NFT: Non-Functional Token
This press release contains some foresighted statements, including, without limitation, the words “may”, “plan”, “desire”, “conjecture”, “continue”, “expected”, “desire”, “expectation”. Statement. , “In process” and other similar expressions that constitute “foresight information” within the meaning of applicable securities law. Foresighted statements reflect the company’s current expectations and assumptions, and there are many risks and uncertainties that may materially differ from the actual results expected. These pioneering statements include risks and uncertainties, but also our expectations regarding the acceptability of our products in the market, our strategies for developing new products and our strategies for capacity building, research and development of existing products. , Uncertainties regarding competitive product and price effects, new product development, and regulatory approval process. Such statements reflect the Company’s current views on future events and the details of certain risks and uncertainties and other risks contained in the Company’s ongoing filings with the Securities Regulatory Authority from time to time, which may be found in the files. at www.sedar.com. Actual results, events, and performance may differ materially. Readers are warned not to rely on this pioneer statement unnecessarily. Except as required by applicable securities law, the Company has no obligation to publicly update or amend any forward-looking statement of new information, future events or otherwise.
Contact for more information:
Dr. Dave Richards: [email protected]
Mr. Franোয়াois C. Desrosiers: [email protected]