Pharmadrug Sprints on Filing Extension

With the rollercoaster ride to which marekset have subjected investors of late, there is still remarkably space to find exciting news.

Pharmadrug Inc. (CSE:BUZZ) provided an update on COVID-19 matters and an update on the status of filing its financial statements and accompanying management’s discussion and analysis, and related CEO and CFO certifications for the financial year ended December 31, 2019.

In March, the Canadian Securities Administrators announced they would be providing issuers with a 45-day extension for filings required to be made on or prior to June 1, as a result of the COVID-19 pandemic. As such, the Ontario Securities Commission has enacted Ontario Instrument 51-502 Temporary Exemption from Certain Corporate Finance Requirements, Pharmadrug Inc. will be relying on this extension period due to delays experienced as a result of the COVID-19 pandemic.

More specifically, the Company intends to postpone the filing of its annual consolidated financial statements, originally due for the end of this month.

A significant portion of the company’s staff and contractors as well as its auditor’s staff have been working from home, and travel for person to person meetings has been curtailed.

Shares in BUZZ jumped 1.5 cents, or 150%, or 2.5 cents, on volume of 5.6 million shares.