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MedMira Inc. Announces Appointment of Auditor and Late Filing of Annual Financial Statements

DEFAULT NOTICE

HALIFAX, Nova Scotia, Nov. 27, 2018 (GLOBE NEWSWIRE) -- MedMira Inc. (TSXV: MIR) (“MedMira” or the “Company”) announced today that it has engaged Arsenault Best Cameron Ellis of Charlottetown, Prince Edward Island, as auditor for the Company’s financial statements for the year ended July 31, 2018.  As previously announced, the Company’s former auditors, Deloitte LLP, resigned in August 2018.

MedMira also announced that, as a result of the time it took to secure the services of a replacement auditor, it will not be filing its audited financial statements for the fiscal year ended July 31, 2018 (the “2018 Financial Statements”) and its management’s discussion and analysis relating to the 2018 Financial Statements before the prescribed deadline of November 28, 2018.

The Company intends to satisfy the provisions of the alternative information guidelines under National Policy 12-203 by issuing bi-weekly default status reports in the form of news releases so long as it remains in default of the filing requirements set out above.  The Company is making an application to the applicable securities regulatory authorities under National Policy 12-203 requesting that a management cease trade order be imposed in place of any general cease trade order in respect of this late filing, if it is deemed necessary.

About MedMira

MedMira is the developer and owner of Rapid Vertical Flow (RVF) Technology™. The Company’s rapid test applications built on RVF Technology provide hospitals, labs, clinics and individuals with instant diagnosis for diseases such as HIV and hepatitis C in just three easy steps. The Company’s tests are sold under the Reveal, Multiplo and Miriad brands in global markets. MedMira’s corporate offices and manufacturing facilities are located in Halifax, Nova Scotia, Canada and the Company has a sales and customer service office located in the United States. For more information visit medmira.com.  Follow us on Twitter and LinkedIn.

This news release contains forward‐looking statements, which involve risk and uncertainties and reflect the Company’s current expectation regarding future events including statements regarding the Company’s intention to seek a management cease trade order.  Actual events could materially differ from those projected herein and depend on a number of factors including, but not limited to, the exercise of discretion by the Nova Scotia Securities Commission with respect to the application for a management cease trade order.

Neither 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.

MedMira Contacts:

Markus Meile, CFO
Tel: 902‐450‐1588
Email: m.meile@medmira.com

Andrea Young, Corporate Communications
Tel: 902‐450‐1588
Email: ayoung@medmira.com

Tuesday, November 27, 2018 - 10:20