Acreage Files Restated Interim Financial Statements

NEW YORK, Dec. 21, 2020 (GLOBE NEWSWIRE) — Acreage Holdings, Inc. (the “Company” or “Acreage”) (CSE: ACRG.A.U, ACRG.B.U) (OTCQX: ACRDF, ACRHF) today announced it filed restated unaudited interim financial statements for the three and nine month periods ended September 30, 2020 (the “Restated Interim Financial Statements”) and corresponding amended management’s discussion and analysis.

The Company filed interim financial statements for the three and nine month periods ended September 30, 2020 on Form 10-Q (the “10-Q”) with the Securities and Exchange Commission on December 18, 2020. Certain items were identified in the context of preparing the 10-Q that required a restatement of the Company’s previously-issued unaudited interim financial statements for the three and nine month periods ended September 30, 2020 (the “Initial Interim Financial Statements”).In the context of preparing the 10-Q, it was determined that a contingent liability that had not been resolved at the time of filing the Initial Interim Financial Statements was subsequently determined and therefore has now been recognized within the Company’s financial results as an increase to Losses from Legal Settlements within Operating Expenses. The recognition of this liability resulted in a US$6.0 million increase to total net loss, consisting of a US$1.2 million increase to net

Read More

Share on facebook
Share on twitter
Share on reddit
Share on pinterest
Share on email

Scroll to Top