Form 52-109FV1 Certification of Annual Filings Venture Issuer Basic Certificate CEO/CFO
May 2, 2022IGNITE Files 2021 Audited Results
May 2, 2022As a result of a continuous disclosure review conducted by Staff of the Ontario Securities Commission (“OSC”), the Company has enhanced disclosure within this Management Discussion and analysis (“MD&A”) relating to, among other things, overall performance, and discussions of operations, including emerging market operations and the contributing growth factors, transactions between related parties, and liquidity and cash resources. The Company has also remedied prior period reporting deficiencies noted by the OSC. These adjustments include providing comparative year-to-date results in the MD&A, segregation of EBITDA and adjusted EBITDA as a non-GAAP measure. The Company has also enhanced its disclosure regarding the regulatory framework relating to regulated IGNITE branded products in each jurisdiction where the Company operates. The noted deficiencies and request for enhanced disclosure raised to us by the OSC relate to previously filed MD&A’s for the financial periods ending June 30, 2021 and September 30, 2021. The Company included such disclosure within this MD&A and will continue to include such disclosure in subsequent reporting periods. As required, the Company has included a summary of financial data for each of the three most recently completed financial years; however, has not disclosed detailed information regarding per unit product sales for 2019 as the data is not readily available and the time and costs to develop such data would be too extensive due to the Company transitioning from various platforms in year one of operations.
Full announcement in the attached PDF.