Emergence Global Enterprises Inc. (OTCQB:ELOAF)

ESSEX, ONTARIO, CANADA, March 1, 2023 /EINPresswire.com/ -- Emergence Global Enterprises Inc. (CSE: EMRG, OTCQB: ELOAF) (“Emergence Global” or the “Company”), a leading innovator in the emerging growth sector of vertical farming, today issued a shareholder update. In the fiscal year 2021, the Company completed its pivot to food security by acquiring a state-of-the-art vertical farm and greenhouses on a sprawling 18.88 acres of land outside Edmonton, Alberta, Canada. The portfolio was further strengthened in fiscal 2022 by the acquisition of 150 patented orbital grow units, and culminated with the IP acquisition of Alvera Inc. patent portfolio.

The Company's strategic acquisitions, combined with a change in financial controls and additions to our management team, have resulted in the need for additional time to complete the audit of our financial reports by our independent public accounting firm in order to conclude our financial reporting requirements for our fiscal year ended October 31, 2022. This delay will result in a temporary cease trade order in the province of British Columbia, which will be automatically lifted once the company posts its year-end financials.

"We apologize for the delay in completing our year-end financial reports and for any inconvenience this may cause our shareholders," said Emergence Global CEO, Joe Byrne. "We want to assure our shareholders that we are working diligently to rectify the situation as quickly as possible. It's important to note that the delay is not the result of any adverse situation related to the company or its operations."

Regulatory authorities have been notified of the delay, and Emergence Global is fully committed to filing its required continuous disclosure reports in the upcoming weeks. The Company looks forward to continuing its efforts to provide long-term value to its shareholders and advancing its position as a leader in the emerging growth sector of vertical farming.

For further information on the Company, please contact Joseph Byrne, Chief Executive Officer and Director phone at: 519-257-0460 or by email at: joe@emergenceglobalinc.com.


Cautionary Statement Regarding Forward-Looking Information

This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the business and operations of the Company after acquisition of the Assets and any impact therefrom. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political, and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the uncertainties surrounding the nutraceutical and botanical industry. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company 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 law. There can be no assurance that the proposed transaction will occur or that the anticipated financial, economic, or strategic benefits will be realized.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) nor OTC Markets accepts responsibility for the adequacy or accuracy of this press release.

Sukhinderpaul Kalsi
Emergence Global Enterprises Inc.
cfo@emergenceglobalinc.com

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.