Lattice Biologics Ltd. Announces Management Cease Trading Order is Revoked
BELGRADE, Mont.--(BUSINESS WIRE)--May 14, 2018--Lattice Biologics Ltd. ( TSX-V: LBL ) (OTCBB: LBLTF) (“ Lattice Biologics ” or the “ Company ”) announces the Company has successfully filed all necessary reporting documents and the preceding MCTO was revoked as of May 1, 2018.
For the past few months, the Company provided default status reports in accordance with National Policy 12-203 – Management Cease Trade Orders. The Company’s audited annual financial statements, related management’s discussion and analysis and accompanying CEO and CFO certifications for the financial year ended September 30, 2017 (collectively, the “Required Filings”) have been completed as of April 30, 2018 for the prescribed period for the filing of such documents under Parts 4 and 5 of National Instrument 51-102 respecting Continuous Disclosure Obligations and pursuant to National Instrument 52-109 respecting Certification of Disclosure in Issuer’s Annual and Interim Filings, being September 30th, 2017.
As a result of the submission of the Required Filings, the British Columbia Securities Commission revoked the management cease trade order (the “MCTO”) on May 1, 2018 against the Company’s Chief Executive Officer and Chief Financial Officer. The MCTO restricted all trading in securities of the Company, whether direct or indirect, by the Chief Executive Officer and Chief Financial Officer of the Company until such time as the Required Filings were filed by the Company. The MCTO did not generally affect the ability of shareholders who are not insiders of the Company to trade their securities.
In addition, the Company issued financial results for first quarter ended Dec. 31, 2017, and is in compliance with all necessary reporting requirements.
“We are pleased the British Columbia Securities Commission worked with us to ensure an orderly filing and to maintain the continued listing of Lattice Biologics Ltd. stock for our investors. The Company has entered into a new long term relationship with its auditors, Hay-Watson, to insure timely reporting in the future,” says Guy Cook, CEO.
About Lattice Biologics Ltd.:
Lattice Biologics recently completed its RTO, becoming a publicly traded company on January 4, 2016 and is traded on the TSX-V under the symbol: LBL. The Company is an emerging personalized/precision medicine leader in the field of cellular therapies and tissue engineering, with a focus on bone, skin, and cartilage regeneration.
Lattice Biologics develops and manufactures biologic products to domestic and international markets. The Company’s products are used in a variety of surgical applications.
Lattice Biologics maintains its headquarters, laboratory and manufacturing facilities in Belgrade, Montana as well as offices in Phoenix, Arizona. The facility includes ISO Class 1000 and ISO Class 100 clean rooms, and specialized equipment capable of crafting traditional allografts and precision specialty allografts for various clinical applications. The Lattice Biologics team includes highly trained tissue bank specialists, surgical technicians, certified sterile processing and distribution technicians, and CNC operators who maintain the highest standards of aseptic technique throughout each step of the manufacturing process. From donor acceptance to the final packaging and distribution of finished allografts, Lattice is committed to maintaining the highest standards of allograft quality, innovation, and customer satisfaction.
Lattice Biologics maintains all necessary licensures to process and sell its tissue engineered products within the U.S. and internationally. This includes Certificates to Foreign Governments from the U.S. Food and Drug Administration (FDA) and registrations for 29 countries, which allow the export of bone, tendon, meniscus, ligament, soft tissue, and cartilage products outside of the U.S.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement on Forward-Looking Information:
Certain information contained in this news release constitutes “forward-looking statements” within the meaning of the ‘safe harbour’ provisions of Canadian securities laws. All statements herein, other than statements of historical fact, are to be considered forward looking. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “planned”, “potential”, “future”, “expected”, “could”, “possible”, “goal”, “intends”, “will” or similar expressions. Forward-looking statements in this news release include, without limitation: information pertaining to the Company’s strategy, plans, or future financial performance, such as statements with respect to the Transaction, and other statements that express management’s expectations or estimates of future performance. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Lattice to be materially different from those expressed or implied by such forward-looking statements.
Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by management as of the date such statements are made, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The factors and assumptions that could prove to be incorrect, include, but are not limited to: that market prices will be consistent with expectations, the continued availability of capital and financing, and that general economic, market and business conditions will be consistent with expectations. The forward-looking statements are not guarantees of future performance. We disclaim any obligation to update or revise any forward-looking statements, except as required by law. Readers are cautioned not to put undue reliance on these forward-looking statements.
United States Advisory: The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be offered, sold, or resold in the United States or to, or for the account of or benefit of, a U.S. Person (as such term is defined in Regulation S under the U.S. Securities Act) unless an exemption from the registration requirements of the U.S. Securities Act is available. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in the state in the United States in which such offer, solicitation or sale would be unlawful.
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CONTACT: Lattice Biologics Ltd.
Cheryl Farmer, CFO, 480-563-0800
KEYWORD: UNITED STATES NORTH AMERICA CANADA MONTANA
INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY GENERAL HEALTH
SOURCE: Lattice Biologics Ltd.
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PUB: 05/14/2018 09:00 AM/DISC: 05/14/2018 09:01 AM