Category: Braxia Scientific

VANCOUVER, BRITISH COLUMBIA (October 29, 2020) – Champignon Brands Inc. (“Champignon” or the “Company”) (CSE: SHRM) (FWB: 496) (OTCQB: SHRMF) continues to work diligently with the British Columbia Securities Commission (the “Commission”) to address the ongoing continuous disclosure review and to coordinate the revocation of the existing cease trade order. The Company will provide guidance on definitive timing for revocation as soon as possible.

The Company has submitted all requested documentation to the Commission in connection with the review of financial statements of AltMed Capital Corp. (“AltMed”) for the period ended June 30, 2020, and subject to review by the Commission expects to move forward with the finalization and public filing of these statements in short order.

Continuous Disclosure Review History

On June 19, 2020, the Company was notified by the Commission that it would be subject to a continuous disclosure review. Such reviews are conducted by the Commission for the purposes of ensuring compliance with the continuous disclosure obligations imposed by applicable Canadian securities laws. In the case of the Company, this review relates to the Company’s disclosure obligations since it became a reporting issuer on February 6, 2020 and includes a review of the disclosure surrounding acquisitions completed by the Company since that time.

In connection with the review, on June 19, 2020, the Commission issued a cease trade order suspending trading in the securities of the Company pending the filing of Business Acquisition Reports in connection with the acquisitions of Artisan Growers Ltd., Novo Formulations Ltd. and Tassili Life Sciences Corp. As a result of the cease trade order, trading in the common shares of the Company was suspended on the Canadian Securities Exchange.

The Business Acquisition Reports were filed by the Company on July 21, 2020, during which time the Company continued to work with the Commission to address comments received in the course of the disclosure review. As a result of the filing of the Business Acquisition Reports, on August 26, 2020, the Commission revoked the cease trade order previously issued on June 19, 2020. Concurrently with the revocation, the Commission issued a replacement cease trade order (the “Replacement Order”), pending the filing of a revised material change report (the “Material Change Report”) in connection with the acquisition by the Company of AltMed.

Prior to finalization of a revised Material Change Report, the Company is required to finalize the accounting treatment for the acquisition of AltMed, which includes compiling the financial statements of AltMed for the six-month period ended June 30, 2020 to meet disclosure requirements.

On October 27, 2020, the Commission issued an additional cease trade order pending the filing of the interim financial statements of the Company for the period ended June 30, 2020 (the “October Order”).

The October Order is not expected to effect the review process or timing for the resumption of trading of the common shares of the Company as the reports required to be filed to satisfy the Replacement Order will address the outstanding items in the October Order.

For further clarity, the Company anticipates that the Replacement Order and the October Order will be revoked at the same time.  The Company is working diligently with the Commission to ensure that the revocation of both the Replacement Order and October Order occur as soon as possible.

For more information on Champignon Brands Inc. please visit our website:  https://braxiascientific.com.

Contact: Victoria Ollers, info@braxiascientific.com

The Canadian Securities Exchange and its Information Service Provider have not reviewed and do not accept responsibility for the accuracy or adequacy of this release.

Forward-looking Information Cautionary Statement

This news release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations, or beliefs of future performance are “forward-looking statements.” Forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events, or developments to be materially different from any future results, events or developments expressed or implied by such forward looking statements.  These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although the Company has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which are available at www.sedar.com. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company has no obligation to update any forward-looking statement, even if new information becomes available.

VANCOUVER, BRITISH COLUMBIA (October 5, 2020) – Dr. Roger McIntyre has been elected Chairman of the Board of Directors of Champignon Brands Inc. (“Champignon” or the “Company”) (CSE: SHRM) (FWB: 496) (OTCQB: SHRMF).

A foremost international expert in depression and suicide, Dr. McIntyre is a Professor of Psychiatry and Pharmacology at the University of Toronto, heads the Mood Disorders Unit at the University Health Network in Toronto and has appointments among scientific and clinical organizations across the US and Asia.

Dr. McIntyre was appointed to the Board of Directors of Champignon on July 22, 2020 and assumed the role of CEO on May 11, 2020.  He has set out a strategic direction for the business which includes a focus on “breakthrough treatments of depression” through the development of government-approved ketamine compounds and a network of treatment clinics. The Company’s dual mission is to help those suffering from mental health disorders in its own ketamine-based clinics and to develop the next generation of novel psychedelic treatments and delivery systems.

The Company continues to work with the British Columbia Securities Commission to address the ongoing continuous disclosure review and is confident that the review will be resolved soon.

Bill Wilkerson, LL. D. (Hon), appointed to the Board of Directors of Champignon on May 22, 2020, has been elected Vice-Chair of the Board, bringing to the position extensive experience in business, government, and mental health.

For more information on Champignon Brands Inc. please visit our website:  https://braxiascientific.com.

Investor inquiries: +1 (833) 375-9995 x611 or champignonbrands@storyboardcommunications.com

Information: info@braxiascientific.com

The Canadian Securities Exchange and its Information Service Provider have not reviewed and do not accept responsibility for the accuracy or adequacy of this release.

Forward-looking Information Cautionary Statement

This news release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations, or beliefs of future performance are “forward-looking statements.” Forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events, or developments to be materially different from any future results, events or developments expressed or implied by such forward looking statements.  These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although the Company has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which are available at www.sedar.com.  There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company has no obligation to update any forward-looking statement, even if new information becomes available.

VANCOUVER, British Columbia, September 15, 2020 – Champignon Brands Inc. (CSE: SHRM) (the “Company”) continues to work with the British Columbia Securities Commission (the “Commission”) to address an ongoing continuous disclosure review.  Since the review was commenced, the Company has arranged for:

• Filing of business acquisition reports (collectively, the “Business Acquisition Reports”) in connection with the acquisitions of Artisan Growers Ltd., Novo Formulations Ltd. and Tassili Life Sciences Corp.
• Revocation of the initial cease trade order issued by the Commission on June 19, 2020.
• Preparation of financial disclosure in connection with the acquisition of AltMed Capital Corp. (“AltMed”). Compilation of the statements is at an advanced stage, and the Company expects this work to be concluded shortly.

Continuous Disclosure Review

On June 19, 2020, the Company was notified by the Commission that it would be subject to a continuous disclosure review.  Such reviews are conducted by the Commission for the purposes of ensuring compliance with the continuous disclosure obligations imposed by applicable Canadian securities laws.  In the case of the Company, this review relates to the Company’s disclosure obligations since it became a reporting issuer on February 6, 2020 and includes a review of the disclosure surrounding acquisitions completed by the Company since that time.

In connection with the review, on June 19, 2020, the Commission issued a cease trade order suspending trading in the securities of the Company pending the filing of Business Acquisition Reports in connection with the acquisitions of Artisan Growers Ltd., Novo Formulations Ltd. and Tassili Life Sciences Corp.  As a result of the cease trade order, trading in the common shares of the Company was suspended on the Canadian Securities Exchange.

The Business Acquisition Reports were filed by the Company on July 21, 2020, during which time the Company continued to work with the Commission to address comments received in the course of the disclosure review.  As a result of the filing of the Business Acquisition Reports, on August 26, 2020, the Commission revoked the cease trade order previously issued on June 19, 2020.  Concurrently with the revocation, the Commission issued a replacement cease trade order (the “Replacement Order”), pending the filing of a revised material change report (the “Material Change Report”) in connection with the acquisition by the Company of AltMed.

The Company previously filed a Material Change Report on May 11, 2020, in connection with the acquisition of AltMed.  The Replacement Order will remain in effect until a revised Material Change Report is filed which contains the disclosure required for a restructuring transaction in accordance with National Instrument 51-102 – Continuous Disclosure Obligations.

Prior to finalization of a revised Material Change Report, the Company is required to finalize the accounting treatment for the acquisition of AltMed.  The Company has concluded, in discussions with its external auditor and accounting advisors, that the acquisition of AltMed should be treated as a reverse-takeover in accordance with IFRS 3 – Business Combinations.  As a result of this conclusion, AltMed is treated as the acquiror for accounting purposes and the Company is in the process of compiling the financial statements of AltMed for the six-month period ended June 30, 2020 to meet disclosure requirements.  Compilation of the statements is at an advanced stage, and the Company expects this work to be concluded shortly.

The Company remains committed to working with the Commission to assist in completion of the review and revocation of the Replacement Order in a timely fashion.  Compliance with its continuous disclosure obligations remains of paramount importance to the Company, and its board of directors, and the Company will continue to update shareholders as work with the Commission progresses.

ON BEHALF OF THE BOARD OF DIRECTORS

Dr. Roger McIntyre
Chief Executive Officer
E: info@braxiascientific.com

FOR INVESTOR INQUIRIES:

Champignon Brands | Storyboard Communications
Investor Relations, Toronto, Canada
Investor Line:  +1 (833) 375-9995 x611
E: champignonbrands@storyboardcommunications.com

FOR CHAMPIGNON BRANDS FRENCH INQUIRIES:
Remy Scalabrini, Maricom Inc.
E: rs@maricom.ca
T: (888) 585-MARI

The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

Forward-looking Information Cautionary Statement

Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. There are no assurances that the business plans for Champignon Brands described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which are available at www.sedar.com.

VANCOUVER, British Columbia, August 27, 2020 – Champignon Brands Inc. (CSE: SHRM) (the “Company” or “Champignon”) is expanding its rapid-onset treatment service for major depressive disorder (“MDD”).  Champignon will offer esketamine for the treatment of adults with MDD at its flagship clinic starting in September 2020. Ketamine was declared a breakthrough treatment for depression by the US Food and Drug Administration (“FDA”). In May 2020, Health Canada approved esketamine for the treatment of MDD.

Champignon’s clinic, the Canadian Rapid Treatment Centre of Excellence (the “CRTCE”) is Canada’s first multidisciplinary community clinic offering rapid-onset treatments for depression and is expected to be the first of its kind to provide this novel treatment for depression in Canada. The CRTCE is located in Mississauga, Ontario.

Depression is a leading cause of reduced income in Canada due to workplace disability: adults with MDD lose almost one month of work per year.[1] Furthermore, depression, when co-occurring with heart disease, diabetes and other major chronic conditions, can worsen the course of these conditions and raise the risk for premature death.²

“The availability of esketamine at the CRTCE provides tremendous opportunity for adults across Canada affected by treatment-resistant depression to receive an effective, well-tolerated treatment. Moreover, this novel treatment works relatively faster than most conventional treatments for depression,” commented Dr. Roger McIntyre, Champignon’s Chief Executive Officer. “Esketamine has also been observed to help people with MDD when conventional treatments have been insufficient. This provides hope for people affected by MDD to have their symptoms improved and begin to function better again in their lives.”

Continuous Disclosure Review

As a further update, the Company continues to work with the British Columbia Securities Commission (“BCSC”) to complete its continuous disclosure review. The review relates to the Company’s disclosure obligations since it became a reporting issuer on February 6, 2020, and includes a review of the disclosure surrounding certain recent acquisitions completed by the Company. The Company continues to fully cooperate with the BCSC to assist in completion of the review in a timely fashion.

In connection with the review, on August 26, 2020, the BCSC revoked the cease trade order previously issued against the Company on June 19, 2020, following the filing of business acquisition reports in connection with the acquisitions of Artisan Growers Ltd., Novo Formulations Ltd. and Tassili Life Sciences Corp.  Concurrently with the revocation, the BCSC issued a replacement order which will remain in effect pending the filing of an amended material change report in connection with the acquisition of AltMed Capital Corp.

Interim Financial Statements

The Company also announces it will rely on the blanket relief granted by the Alberta Securities Commission Blanket Order 51-517, Temporary Exemption from Certain Corporate Finance Requirements (“BO 51-517”), BC Instrument 51-515, Temporary Exemption from Certain Corporate Finance Requirements (“BCI 51-515”), and Ontario Instrument 51-502, Temporary Exemption from Certain Corporate Finance Requirements (“OI 51-502”), in respect of the filing of its interim financial statements for the period ending June 30, 2020, including the accompanying management’s discussion and analysis and related CEO and CFO certifications (collectively, the “Required Filings”).

The Company is working to complete the Required Filings, and addressed comments raised by the BCSC in the course of their disclosure review, within the time period of the extension.  In the interim, all shareholders, including members of the Company’s management and other insiders are subject to a cease trade order issued by the BCSC.  The Company confirms that since the filing of its interim consolidated financial statements for the period ended March 31, 2020, there have been no material developments other than those disclosed through news releases or through disclosure filings completed by the Company on SEDAR (www.sedar.com).

[1] The effect of bipolar I disorder and major depressive disorder on workforce function

McIntyre, R S, MD, FRCPC;Wilkins, K, MSc;Gilmour, H, MA;Soczynska, J K, HBSc;Konarksi, J Z, MSc;M… Chronic Diseases in Canada; 2008; 28, 3

²Economic and humanistic burden associated with noncommunicable diseases among adults with depression and anxiety in the United States. Armbrecht E., Shah A., Schepman P., Shah R., Pappadopulos E., Chambers R., Stephens J., Haider S., McIntyre R. S. J Med Econ. 2020;1-11

ON BEHALF OF THE BOARD OF DIRECTORS

Dr. Roger McIntyre
Chief Executive Officer
E: info@braxiascientific.com

FOR INVESTOR INQUIRIES:

Champignon Brands | Storyboard Communications
Investor Relations, Toronto, Canada
Investor Line:  +1 (833) 375-9995 x611
E: champignonbrands@storyboardcommunications.com

FOR CHAMPIGNON BRANDS FRENCH INQUIRIES:
Remy Scalabrini, Maricom Inc.
E: rs@maricom.ca
T: (888) 585-MARI

The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

Forward-looking Information Cautionary Statement

Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. There are no assurances that the business plans for Champignon Brands described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which are available at www.sedar.com.

VANCOUVER, British Columbia, July 24, 2020 – Champignon Brands Inc. (“Champignon” or the “Company”) (CSE: SHRM) (FWB: 496) (OTCQB: SHRMF) is pleased to announce it has filed business acquisition reports in connection with its previous acquisitions of Artisan Growers Ltd., Novo Formulations Ltd. and Tassili Life Sciences Corp. Copies of the reports are available for review under the Company’s profile on SEDAR (www.sedar.com).

The filings are part of Champignon’s commitment to work with the British Columbia Securities Commission to complete its previously announced disclosure review in a timely fashion. The review relates to the Company’s disclosure obligations since it became a reporting issuer on February 6, 2020, and includes a review of the disclosure surrounding recent acquisitions completed by the Company.

Champignon also announces it has appointed Dr. Roger McIntyre, Champignon CEO, to its Board of Directors. Dr. McIntyre’s appointment will replace Pat McCutcheon’s position as a director of the Company. Mr. McCutcheon will remain with the Company in an advisory capacity, which will permit him increased mobility to assist the Company with ongoing and planned capital markets initiatives.

ON BEHALF OF THE BOARD OF DIRECTORS

Dr. Roger McIntyre
Chief Executive Officer
E: info@braxiascientific.com

FOR INVESTOR INQUIRIES:

Champignon Brands | Storyboard Communications
Investor Relations, Toronto, Canada
Investor Line:  +1 (833) 375-9995 x611
E: champignonbrands@storyboardcommunications.com

FOR CHAMPIGNON BRANDS FRENCH INQUIRIES:
Remy Scalabrini, Maricom Inc.
E: rs@maricom.ca
T: (888) 585-MARI

The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

Forward-looking Information Cautionary Statement

Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. There are no assurances that the business plans for Champignon Brands described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which are available at www.sedar.com.

VANCOUVER, British Columbia, July 13, 2020 – Champignon Brands Inc. (“Champignon” or the “Company”) (CSE: SHRM) (FWB: 496) (OTCQB: SHRMF) announces the following corporate updates:

BCSC Continuous Disclosure Review

The Company continues to work with the British Columbia Securities Commission (the “Commission”) to complete its continuous disclosure review.  The review relates to the Company’s disclosure obligations since it became a reporting issuer on February 6, 2020, and includes a review of the disclosure surrounding certain recent acquisitions completed by the Company.  The Company will continue to fully cooperate with the Commission to assist in completion of the review in a timely fashion.

Corporate Rebranding & Spin Out

In June 2020, the Company’s board of directors considered options for realizing additional value for the consumer-packaged goods (CPG) pillar of its business and contemplated a reorganization that would result in the spinout of this business into a new reporting issuer.  The board of directors has determined that this is not a suitable transaction to undertake at this stage and will not be proceeding with the contemplated reorganization and spinout.

The Company also clarifies that its previously announced intention to undertake a corporate rebranding, and to change its name did not result from any specific transaction undertaken by the Company.  At this time, the board of directors has resolved not to proceed with the corporate rebranding and name change. The board of directors continues to review options for marketing and branding of the Company to represent its CPG, research and clinical business channels but has no plans to execute on any such initiatives in the near term.

Wellness Clinic of Orange County Inc.

The Company announces that the term sheet entered into with the Wellness Clinic of Orange County Inc. has been terminated, and the Company will not be proceeding with the proposed transaction at this time.  The Company did not assume any ongoing liabilities or obligations in connection with the termination of the term sheet.

AltMed Capital Corp.

The Company also announces that it will rely on the temporary relief granted pursuant to British Columbia Instrument 51-517 (Temporary Exemption from Certain Corporate Finance Requirements with Deadlines during the Period from June 2 to August 31, 2020) in respect of the filing of a business acquisition report (“BAR”) in connection with its acquisition of AltMed Capital Corp. (“AltMed”).  A BAR in connection with the acquisition of AltMed would otherwise be due on July 13, 2020, based on the timeframe prescribed by National Instrument 51-102 (Continuous Disclosure Obligations), and is now expected to be filed no later than August 27, 2020.

ON BEHALF OF THE BOARD OF DIRECTORS

Dr. Roger McIntyre
Chief Executive Officer
E: info@braxiascientific.com

FOR INVESTOR INQUIRIES:

Champignon Brands | Storyboard Communications
Investor Relations, Toronto, Canada
Investor Line:  +1 (833) 375-9995 x611
E: champignonbrands@storyboardcommunications.com

FOR CHAMPIGNON BRANDS FRENCH INQUIRIES:
Remy Scalabrini, Maricom Inc.
E: rs@maricom.ca
T: (888) 585-MARI

The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

Forward-looking Information Cautionary Statement

Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. There are no assurances that the business plans for Champignon Brands described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which are available at www.sedar.com.

VANCOUVER, British Columbia, June 22, 2020 – Champignon Brands Inc. (“Champignon” or the “Company”) (CSE: SHRM) (FWB: 496) (OTCQB: SHRMF) announces that it has been selected for a continuous disclosure review by the British Columbia Securities Commission (the “Commission”).  The review relates to the Company’s disclosure obligations since it became a reporting issuer on February 6, 2020 and includes a review of the disclosure surrounding certain recent acquisitions completed by the Company.

“With the recent growth and interest in our industry, ensuring our disclosure obligations are satisfied is at the forefront of our attention.  Ensuring fulsome and timely disclosure is vital to the success of our Company, and development of our industry with the investing public.  We look forward to working with staff of the British Columbia Securities Commission to complete their review, and are hopeful that trading will resume as soon as possible,” commented Dr. Roger McIntyre, Chief Executive Officer of the Company.

In connection with the review, the Commission has issued a cease trade order suspending trading in the securities of the Company pending the filing of business acquisition reports by the Company in connection with the acquisitions of Artisan Growers Ltd., Novo Formulations Ltd. and Tassili Life Sciences Corp.  As a result of the cease trade order, trading in the common shares of the Company has been suspended on the Canadian Securities Exchange.

The Company will fully cooperate with the Commission, to assist in completion of the review and revocation of the cease trade order in a timely fashion.  The Company will provide further information regarding the status of the review, and the suspension of trading, as it becomes available.

ON BEHALF OF THE BOARD OF DIRECTORS

Dr. Roger McIntyre
Chief Executive Officer
E: info@braxiascientific.com

FOR INVESTOR INQUIRIES:

Champignon Brands | Storyboard Communications
Investor Relations, Toronto, Canada
Investor Line:  +1 (833) 375-9995 x611
E: champignonbrands@storyboardcommunications.com

FOR CHAMPIGNON BRANDS FRENCH INQUIRIES:
Remy Scalabrini, Maricom Inc.
E: rs@maricom.ca
T: (888) 585-MARI

The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

Forward-looking Information Cautionary Statement

Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. There are no assurances that the business plans for Champignon Brands described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which are available at www.sedar.com.