REG - Yooma Wellness Inc. - Change of Auditor

Yooma WellnessAnnouncement

12/12/2022 07:00

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RNS Number : 3010J  Yooma Wellness Inc.  12 December 2022

     12 December 2022

 

Yooma Wellness Inc.

('Yooma' or the 'Company' or the 'Group')

 

Change of Auditor

 

Yooma Wellness Inc. (CSE: YOOM, AQSE: YOOM), a Toronto-based global wellness
platform that develops and markets a portfolio of wellness brands, today
announces that it has changed its auditors from RSM Canada LLP ('Former
Auditor') to BF Borgers CPA PC ('Successor Auditor').

 

The Former Auditor resigned as auditor of the Company on 9 December 2022
today, citing the reduced significance of the Company's North American
operations relative to its operations in Japan, the UK and Europe, and the
Board of Directors of the Company has appointed the Successor Auditor as the
Company's auditor effective as of 9 December 2022. There were no reservations
or modified opinions in the Former Auditor's reports on the Company's
financial statements during the period that the Former Auditor acted as the
Company's auditor, and no reportable events, including disagreements,
consultations or unresolved issues (as defined in National Instrument 51-102 -
Continuous Disclosure Obligations ('NI 51-102')) during that same period.

 

In accordance with NI 51-102, a notice of change of auditor, together with the
required letters from the Former Auditor and the Successor Auditor, have been
reviewed by the Board of Directors of the Company and filed on SEDAR.

 

About Yooma Wellness Inc.

Yooma's mission is to build a global leader in the marketing, distribution,
and sale of wellness products including hemp seed oil and hemp-derived and
cannabinoid (CBD) ingredients. The company leverages strategically curated
sales channels and ecommerce networks to deliver a diverse mix of wellness
products through operating subsidiaries in the United Kingdom, France and
Japan.  Learn more at www.yooma.ca (http://www.yooma.ca) .

 

The directors of the Company accept responsibility for the contents of this
announcement.

 For further information, please contact:

 Yooma Wellness Inc.                        Tel: + 1 512 823 1678

 Jordan Greenberg, CEO                      jgreenberg@yooma.ca (mailto:jgreenberg@yooma.ca)

 AQSE Corporate Adviser:

 Peterhouse Capital Limited                 Tel: +44 (0) 20 7469 0930

 Guy Miller / Mark Anwyl                    Tel: +44 (0) 7990 139 093

 Media Enquiries                            Tel: +44 (0) 20 7466 5000

 Buchanan                                   yooma@buchanan.uk.com (mailto:yooma@buchanan.uk.com)

 Henry Harrison-Topham / Jamie Hooper /

 George Beale

 

Notice regarding Forward Looking Statements

All information included in this press release, including any information as
to future financial or operating performance and other statements of Yooma
that express management's expectations or estimates of future performance or
activities, other than statements of historical fact, constitute
forward-looking information or forward-looking statements (collectively,
"forward-looking statements") within the meaning of applicable securities laws
and are based on expectations, estimates and projections as of the date
hereof. Forward-looking statements are included for the purpose of providing
information about management's current expectations and plans relating to the
future. Wherever possible, words such as "will", "intend", "believe",
"future", "plan", "hopeful", "continuing to" or the negative of these words or
other variations thereof, have been used to identify such forward-looking
information. Specific forward-looking statements include, without limitation,
all disclosure regarding future results of operations, economic conditions and
anticipated courses of action, including statements about Yooma's mission and
strategic plan; its ongoing review of strategic alternatives; and the nature
and focus of Yooma's business going forward.

 

There are many risks and uncertainties that may affect forward-looking
statements including, among others, regulatory risk in each jurisdiction in
which Yooma does or intends to operate; the uncertainties, effects of and
responses to the COVID-19 pandemic; reliance on licenses; competition;
dependence on senior management and key personnel; general business risk and
liability; regulation of the CBD industry; changes in laws, regulations and
guidelines; compliance with laws; limited operating history; unfavourable
publicity or consumer perception; product liability, risks related to
intellectual property; product recalls; difficulties with forecasts;
management of growth; litigation; Yooma's ability to effectively integrate
existing and future acquisition targets into its platform; the effects of
competition in the industry; the requirement for increasingly innovative
product solutions and service offerings; trends in customer growth; the
availability of financing to support future growth and working capital
requirements, transactional activity and operations; sufficiency of current
working capital to support future operating and working capital requirements;
and other matters which are beyond the control of Yooma. Although the
forward-looking statements contained herein reflect management's current
beliefs and reasonable assumptions based upon information available to
management as of the date hereof, Yooma cannot be certain that actual results
will be consistent with such forward-looking information. Yooma cautions you
not to place undue reliance upon any such forward-looking statements. Yooma
disclaims any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or otherwise,
except as required by applicable law. Nothing herein should be construed as
either an offer to sell or a solicitation to buy or sell securities of Yooma.

 

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