/EIN News/ — TORONTO, Oct. 24, 2018 (GLOBE NEWSWIRE) — Lineage Grow Company Ltd. (the “Company” or “Lineage”) (CSE:BUDD) announced that it has refiled restated unaudited condensed interim consolidated financial statements for the three and six months ended July 31, 2018 and 2017 (the “Revised Q2 2019 Financials”) and related management’s discussion and analysis (the “Revised MD&A”).
A review of the unaudited condensed interim consolidated financial statements was completed by the Company’s auditor in connection with a Canadian Securities Exchange (the “CSE”) application of the proposed reverse take-over of Lineage by Harborside (FLRish Inc., a California corporation d/b/a Harborside). The review identified that certain financial results and disclosures required updating, which prompted the refiling.
The Revised Q2 2019 Financials and the Revised MD&A replace and supersede the previously filed original financial statements and MD&A (the “Original Financials”).
The material revisions to the Revised Q2 2019 Financials are the following:
Correction of a loss previously recognized on the settlement of common shares issued on March 7, 2018, which reduced the loss for the six months period ended July 31, 2018 by $341,235; and
Inclusion in the condensed interim consolidated statements of loss and comprehensive loss, to account for the cumulative effect of the embedded derivative liabilities of the convertible debentures issued in May 12, 2017, on the comparative period.
The aforementioned revisions have no impact on the Company’s financial position, and do not reflect any events that occurred after the date of filing of the Original Financials.
The Revised Q2 2019 Financials and Revised MD&A are available for review on the SEDAR website at www.sedar.com or on the Company’s website at www.lineagegrow.com.