NHS Industries Provides Update on the Release of Its Annual Financial Statements and Related Disclosures for Fiscal 2019 and Postponement of Release of Its First Quarter 2020 Interim Financial Statements and Related Disclosures

VANCOUVER, BC / ACCESSWIRE / May 28, 2020 / NHS Industries Ltd. (CSE:NHS) (the "Company" or "NHS") has provided an update on the filing of its annual financial statements and related disclosures for the year ended Dec. 31, 2019, following the earlier announcement in its press release dated April 16, 2020, that filing of the annual disclosures would be delayed due to COVID-19-related delays. The company is continuing to work diligently and expeditiously with its auditors, and anticipates that the annual disclosures will be filed by June 12, 2020, as previously indicated.

The company further announces that filing of the interim financial statements and related disclosures for the three-month period ended March 31, 2020, the first quarter of fiscal 2020, will also be delayed owing to COVID-19-related issues. The company anticipates that the interim disclosures will be filed by July 13, 2020.

NHS confirms that there have been no material business developments other than as disclosed in its press releases and previous filings, and further confirms that management and other insiders of the company have been, since April 16, 2020, and continue to be, subject to a trading blackout policy that reflects the principles in Section 9 of National Policy 11-207 — Failure to-File Cease Trade Orders and Revocations in Multiple Jurisdictions, which will remain in effect until both the annual disclosures and the interim disclosures have been filed.

About NHS Industries Ltd.

NHS is an agri-food holdings company focused on innovative products and technologies in the food services industry.

For further information about NHS, please consult the Company's profile on SEDAR at www.sedar.com.

On Behalf of the Board of Directors

Robert Nygren
Chief Executive Officer
info@nhsindustries.ca
(888) 202-5153

WWW.NHSINDUSTRIES.CA

This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to completion of planned improvements on schedule and on budget, the availability of financing needed to complete the Company's planned improvements on commercially reasonable terms, delays in obtaining statutory and/or regulatory approval for production plans, the ability to mitigate the risk of loss through appropriate insurance policies, among others. 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 save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

This news release does not constitute an offer of securities for sale in the United States. These securities have not and will not be registered under United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to a U.S. Person unless so registered, or an exemption from registration is relied upon.

SOURCE: NHS Industries Ltd.

ReleaseID: 591854