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Classified in: Health, Science and technology, Covid-19 virus

Green Mountain to Postpone Reporting Annual Financial Results Due to COVID-19 Related Delays

PENTICTON, British Columbia, April 23, 2020 (GLOBE NEWSWIRE) -- Green Mountain announced today that due to logistical issues and delays caused by the COVID-19 virus, it is relying on the exemption provided in Ontario Instrument 51-502 Temporary Exemption from Certain Corporate Finance Requirements (and similar exemptions provided by other Canadian securities regulators) (the "Extension Instrument") to postpone the filing of the audited annual financial statements for the twelve-month period ended December 31, 2019 and notice of use of proceeds (together the "Documents").

The Extension Instrument provides Green Mountain with an additional 45 days from the deadline otherwise applicable under securities laws to make the filing. Until Green Mountain has filed the Documents, members of the Green Mountain's management and other insiders are subject to a trading blackout reflecting the principles contained in section 9 of National Policy 11-207 Failure to File Cease Trade Orders and Revocations in Multiple Jurisdictions such that they are in a blackout period until the end of the second trading day after the Documents have been disclosed by way of a news release. The securities of Green Mountain are not listed for trading in Canada or elsewhere.

Green Mountain expects to file the Documents as soon as possible, and in any event within the 45-day relief period provided by the Extension Instrument.

Green Mountain is required to file the Documents in Alberta and deliver the Documents in Saskatchewan and Ontario as it previously filed a Report of Exempt Distribution in those provinces under section 2.9 (the Offering Memorandum exemption) of National Instrument 45-106 Prospectus Exemptions in those jurisdictions.

Material Business Developments
There have been no material business developments since the filing of Green Mountain's audited financial statements for the year ended December 31, 2018 that have not been otherwise disclosed by Green Mountain by way of news release.

Forward-Looking Information
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof, and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.

For more information, please contact:

General Inquiries:
Jessica Murdoch, Communications Manager, Green Mountain

Investor Inquiries:
Michele Lise, Investor Relations, Green Mountain
1-833-291-GMTN or 604-612-4443

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