Elixxer Ltd. Provides Update on Continuous Disclosure Filings Following Temporary Relief by the Canadian Securities Administrators

MONTREAL, May 30, 2020 (GLOBE NEWSWIRE) -- Elixxer Ltd. (the "Corporation” or "Elixxer”) (TSX-V: ELXR and OTC-QB: ELIXF) provides update that, further to its press release of April 27, 2020 in respect of its annual filings for the 15-month period ended December 31, 2019, it will also rely on the blanket exemption provided by the Autorité des marchés financiers and similar exemptions provided by the other members of the Canadian Securities Administrators pursuant to which issuers are granted an additional 45 days to complete their regulatory filings due to logistics and delays caused by the COVID-19 pandemic, in respect of:

• the requirement of Corporation to file its interim financial statements for the three-month period ended March 31, 2020 (the "Interim Financial Statements”) within 60 days after the end of the interim period as required by Regulation 51-102 respecting Continuous Disclosure Obligations ("Regulation 51-102”);
   
• the requirement of the Corporation to file its management discussion and analysis for the three-month period ended March 31, 2020 (the "MD&A”) within 60 days of the end of the interim period as required by Regulation 51-102; and
   
• the requirement to file certifications of the Interim Financial Statements (the "Certifications” and together with the Interim Financial Statements and MD&A, the "Interim Filings”) as required by Regulation 52-109 respecting Certification of Disclosure in Issuer’s Annual and Interim Filings.

Elixxer anticipates that its Interim Filings will be filed on or about July 14, 2020.  Until such time as the Interim Filings are filed, as required by the conditions of the extension, Elixxer’s management and other insiders will be subject to a trading black-out that reflects the principles in Section 9 of Policy Statement 11-207.

Other than as previously disclosed by Elixxer in news releases, including the information herein, there are no other material developments since the date of the Corporation’s most recent filings of its interim financial statements and related management’s discussion and analysis for the period ended September 30, 2019. 

Elixxer is also relying on the blanket exemptions provided by the Canadian Securities Administrators to postpone the filing of its executive compensation disclosure required by Regulation 51-102 until such time as it is filed and delivered to shareholders as part of the Corporation’s information circular relating to its next annual meeting of shareholders.

About Elixxer Ltd. (www.elixxer.com)

Elixxer Ltd. is a leading cannabis investment firm with a focus on the legal global cannabis market. Through its growing portfolio of investment companies, ELXR is building a transversal integrated organization of interconnected legal cannabis companies with cultivation, processing and distribution in Australia, Jamaica, Switzerland, Italy, and Canada serving domestic and export markets. Elixxer Ltd. is a Canadian incorporated public company listed on the TSX Venture Exchange (TSX-V: ELXR) and the US OTC-QB exchange (OTCQB: ELXIF).

For further information please contact:

President, John McMullen, +1-416-803-0698, john@elixxer.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Notice Regarding Forward Looking Statements

This press release may contain forward-looking statements with respect to Elixxer and its operations, strategy, investments, financial performance and condition. These statements can generally be identified by use of forward-looking words such as "may”, "will”, "expect”, "estimate”, "anticipate”, "intends”, "believe” or "continue” or the negative thereof or similar variations. The actual results and performance of Elixxer could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Some important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, government regulation and the factors described under "Risk Factors and Risk Management” in Elixxer’s most recent Management’s Discussion and Analysis filed on SEDAR (www.sedar.com). The cautionary statements qualify all forward-looking statements attributable to Elixxer and persons acting on its behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release, and Elixxer has no obligation to update such statements, except to the extent required by applicable securities laws