SPoT Coffee Announces Reliance Upon Annual Financial Statement Filing Exemption

TORONTO, April 23, 2020 /CNW/ - SPOT COFFEE (CANADA) LTD. (TSX-V: SPP) ("SPoT" or the "Company") announces that pursuant to the blanket relief granted by the Canadian Securities Administrators it will not file its annual financial statements for the year ended December 31, 2019, and the related management's discussion and analysis, as required by Parts 4 and 5 of National Instrument 51-102 – Continuous Disclosure Obligations (collectively, the "Annual Filings") prior to the filing deadline of April 29, 2020. 

The Company expects to report its Annual Filings results on or about June 12, 2020, and is afforded a postponement of up to a maximum 45-day extension pursuant to blanket relief for all market participants granted by the Canadian Securities Administrators.

Other than as disclosed in the Company's press releases, there have not been any material business developments since the date that the last financial statements of the Company were filed.

The Company confirms that its management and other insiders are subject to an insider trading black-out policy that reflects the principles in section 9 of National Policy 11-207 –Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions, such that they are in a black-out period until the commencement of the second trading day after the Annual Filings have been disclosed by way of a news release.

About Spot Coffee

Spot Coffee has been designing, building and operating company-owned and franchise community cafés in the northeastern United States for over 25 years. Spot's cafés provide their customers with the highest quality service, signature made-to-order meals and award-winning micro-roasted coffee. Each Spot café is distinctively designed to suit the local neighbourhood. creating a warm and friendly gathering place for the community. Spot's commercial business focuses on the sale of roasted coffee beans to food service and grocery chains, business offices, and resellers such as universities and hospitals.

We seek Safe Harbor.

Forward Looking Statements

Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

SOURCE Spot Coffee (Canada) Ltd.

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