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Namaste Hires New Outside Audit Firm But Will Miss Deadline for 2018 Report

Namaste Hires New Outside Audit Firm But Will Miss Deadline for 2018 Report

The Canadian Press
Audit Firms in Dubai - Namaste Hires New Outside Audit Firm But Will Miss Deadline for 2018 Report

TORONTO — Namaste Technologies Inc. has named a new auditor to replace PricewaterhouseCoopers LLP, which resigned earlier this month before the cannabis e-commerce company had finalized its 2018 financial report.

The Toronto-based company says its new auditor, Baker Tilly, won’t be able to complete its audit of annual results for the year ended Nov. 30 by the April 1 deadline.

As a result, Namaste has asked regulators for an order that would allow its shares to continue trading on public markets, but impose a management cease trade order on key officers, directors and other personnel.

The change in auditors follows the firing of former chief executive Sean Dollinger, who co-founded the company with Kory Zelickson.

Dollinger sought a court injunction against his dismissal, but later reached a settlement with the company in February.

Following the settlement, Namaste announced the resignation of PricewaterhouseCoopers as auditor on March 5 and the resignation of two directors on March 7.

Companies in this story:(TSXV:N)

The Canadian Press

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