OCEANSIDE, Calif., March 27, 2017 (GLOBE NEWSWIRE) -- Sealand Natural Resources, Inc. (OTCPINK:SLNR) (the “Company” or “Sealand”) today is commenting on the placement of a “STOP” sign, indicating the Company is now Pink No Information in that it may not be making material information publicly available on its OTCMarkets quote page, by OTCMarkets on March 9,2017.
The Company became a ”Reporting Company” by filing a form 8-12G with the United States Securities and Exchange Commission on April 7, 2014. From that date until April 14, 2015 the Company remained current in its periodic report filing obligations pursuant to the Securities and Exchange Act of 1934 (the “Exchange Act”). On April 14, 2015 the Company filed a form NT 10-Q pursuant to rule 12b-25 of the Exchange Act reporting that it would be late in filing its quarterly report on Form 10-Q for the period ended February 28, 2015 but that it would use its best efforts to make the required quarterly report on or before April 20, 2015. The Company failed to make such report by April 20, 2015 and as a result became delinquent in its reporting requirements under the Exchange Act. On or about July 15, 2015, approximately six months after the Company filed its last report required under the Exchange Act, OTCMarkets, following its normal procedure, placed a “STOP” sign on the Company’s OTCMarkets quote page. This “Stop” sign remained in place until on or about December 5, 2015 shortly after the Company filed a Current Report on Form 8-K announcing the appointment of a new CEO. At that time, OTCMarkets replaced the “STOP” sign with a “Yield” sign, which indicates that the Company was providing only Limited Information to the public and might be experiencing financial reporting problems, or be in economic distress. The “Yield” sign remained on The Company’s OTCMarkets quote page until March 9, 2017 when it was replaced by the “Stop” sign as set forth above. In the interim between December 5, 2016 and March 9, 2017 the Company filed three additional Current Reports on form 8-K with the SEC.
On March 9, 2017, OTCMarkets published the following information on its website under the discussion of the of the information requirements of the OTCPINK Market:
“Notice: As of March 9, 2017, periodic 8-K/6-K (for foreign filers) made through the SEC’s Edgar system will no longer be considered sufficient to qualify for the Pink Limited Information category. If a Company has not filed reports within the last 6 months they will be now be moved to the Pink No Information category.
"227 companies have been downgraded to Pink No Information as a direct result of this change to our disclosure standards.”
The Company had no advanced notice of this impending change before it was instituted by OTCMarkets on March 9, 2017.
Stone Douglass, Sealand’s CEO commented, “This change in our OTCMarkets status was not caused by any current act or failure to act by the Company but rather by the above noted change in OTCMarkets disclosure standards. The Company, as previously announced, is striving to finalize its accounting and audit work to become current in its Exchange Act reporting requirements 'as soon as possible.'”
While the Company believes that it will be able to become current in its SEC filings in the near future, there can be no assurances that this goal will be met. Furthermore, while the company believes its most recently reported cash infusion will be sufficient for the Company to meet its reporting goals as stated above, there can be no assurances that the Company will not need to raise additional capital to meet its goals or that the Company will be able to raise such additional capital at all.
About Sealand Natural Resources, Inc.
Sealand is a new product research and development company which harvests and distributes an alternative healthy beverage, Sealand Birk, derived from the sap of the silver birch tree (Betula Pendula). Birk is 100% natural, Non-GMO, certified organic and Kosher. Management believes Sealand Birk is the first corporate commercialization of a silver birch sap based “water”, versions of which have been consumed locally in Scandinavia as health drink for over three hundred years. The product is a blend of silver birch sap currently drawn from certified organic forests in Finland and Lithuania and is a pleasant, slightly viscous lightly sweetened thirst quencher. The sap’s sweetness is derived from its natural low glycemic Xylitol (synthetic versions of which are utilized to sweeten many other “healthy” drinks and food products). Silver birch sap contains the largest concentration of xylitol of any of the plants which produce natural xylitol and its well documented health benefits including a very low glycemic index value, 40% fewer calories than sugar, the absence of the necessity of insulin to metabolize, a minimal effect on blood sugar levels, and its ability to kill bacteria and prevent tooth decay and oral disease, among other benefits. Birk water also contains significant amounts of vitamin C, potassium, manganese, thiamin and calcium.
The company currently bottles Sealand Birk in Denmark and sells the product throughout Europe, Asia and the Middle East. The Company plans to expand worldwide distribution and commence sale in the USA in 2017.
Visit the company’s website at http://www.sealandnr.com for detailed information about the Company’s healthy drink products.
Safe Harbor Statement
Sealand Natural Resources, Inc. cautions you that any statement included in this press release that is not a description of historical fact is a forward-looking statement. Many of these forward-looking statements contain the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions. Actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the company and are subject to a number of risks and uncertainties inherent in Sealand’s business, including, without limitation: the company may not be able to secure the funds necessary to support its product development plans; and the company may not ever achieve the market success to sustain a profitable business. In addition, there are risks and uncertainties related to economic recession or terrorist actions, competition from much larger companies, technological obsolescence, unexpected costs and delays, potential product liability claims, and many other factors. More detailed information about Sealand (and the specific risk factors that may affect the realization of forward-looking statements) is set forth in the company’s filings with the Securities and Exchange Commission, including the company’s Annual Report on Form 10-K and its Quarterly Report on Form 10-Q. Such documents may be read free of charge on the SEC’s website at www.sec.gov . You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and Sealand undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.
Investor Contact: Stone Douglass Sealand Natural Resources, Inc. 1722 South Coast Hwy., #4 Oceanside, CA 92054 sd@sealandnr.com
