January 15, 2021
Agrios Global Holdings Ltd. Provides Corporate Update
Vancouver BC / NEWSWIRE / January 15, 2021 /TNW/ - Agrios Global Holdings Ltd. (CSE: AGRO) (OTCQB: AGGHF) (FSE: ØSA - WKN-A2N62K) ("Agrios" or the "Company") announces change to its Board of Directors and filing update.
Board Changes
Mr. J. F. Foster, Chairman of the Board of Directors, has resigned as Chairman, and Director of the Board of Agrios Global effective immediately. The Board wishes to thank Mr. Foster for his contributions to the Board and Company during his tenure.
On September 15, 2020, the British Columbia Securities Commission, as principal regulator, granted the Company temporary management cease trade order (the "MCTO"). As previously announced, the Company requires additional time to file the Annual Filings due to unforeseen impacts arising from the COVID-19 pandemic, which have continued to delay the audit of the Company's annual financial statements. The Company has been unable to file its Annual Audit statements, its June 30, 2020, Quarterly statements, September 30, 2020, Quarterly statements, and December 31, 2020 Quarterly statements and all related materials such as MD&A's which accompany such statements. The delays in filing these statements continue to be related to COVID-19.
Additionally, the Company has failed to meet its interest payment obligations payable to the Convertible Noteholders of both the Convertible Debenture announced in the Company’s News Release dated June 13, 2019, and the Convertible Credit Facility Noteholders announced in the Company’s News Release dated August 30, 2019, both payable on December 31, 2020. Agrios will be in direct communication with each noteholder to inform of the situation and next steps.