Icanic Brands Changes Financial Year-End

Rhea-AI Summary

Icanic Brands Company, a multi-state cannabis brand operator, has shifted its fiscal year-end from July 31 to December 31. This change aligns its reporting with that of LEEF Holdings, the extraction company acquired on April 20, 2022. For the transitional 17-month period, the company will issue audited financial statements covering August 1, 2021, to December 31, 2022. A notice detailing the new corporate structure and reporting periods has been filed with SEDAR.

Positive

• Aligns financial year with LEEF Holdings for cohesive reporting.

Negative

• None.

VANCOUVER, British Columbia, June 15, 2022 (GLOBE NEWSWIRE) -- Icanic Brands Company, Inc. (CSE: ICAN, OTCQB: ICNAF) (“Icanic Brands” or the “Company”), a multi-state brand operator of premium cannabis brands in California, is pleased to announce that it has changed its year-end from July 31 to December 31. For the transition year, the Company will provide audited financial statements for the 17-month period from August 1, 2021 to December 31, 2022. The reason for the change of year-end is to align the Company’s year-end with the year-end of LEEF Holdings, Inc. (“LEEF”), a California based extractions company that the Company acquired on April 20, 2022.

A notice of change corporate structure, which sets out the length, start and end dates of periods, including the comparative periods, of the interim and annual financial statements required for Icanic’s transition year and its new financial year, has been filed on SEDAR and is accessible at www.sedar.com.

About Icanic Brands Company Inc.

Icanic Brands Company Inc. is a cannabis branded products manufacturer based in California & Nevada, the largest and most competitive cannabis markets in the world. The company’s mission is to make cannabis safe and approachable - that starts with manufacturing high-quality products delivering consistent experiences.

For more information, please visit the company’s website at: www.icaninc.com.

ICANIC BRANDS COMPANY INC.
Per:	“Brandon Kou”
	Chief Executive Officer

For further information about Icanic Brands, please contact the Company at:
Email: ir@icaninc.com

The CSE does not accept responsibility for the adequacy or accuracy of this release.

 

FAQ

Why did Icanic Brands change its year-end to December 31?

Icanic Brands changed its year-end to align with LEEF Holdings, which it acquired on April 20, 2022.

What is the transitional period for Icanic Brands' financial statements?

The transitional period for Icanic Brands' financial statements is from August 1, 2021, to December 31, 2022.

Where can I access Icanic Brands' new corporate structure details?

The new corporate structure details have been filed on SEDAR and can be accessed at www.sedar.com.

What is the significance of the change in Icanic Brands' financial year-end?

The change allows Icanic Brands to align its financial reporting with LEEF Holdings, ensuring consistency.

Who is the CEO of Icanic Brands?

The CEO of Icanic Brands is Brandon Kou.