Nepra Foods Announces Delay in Filing Annual Financial Statements

VANCOUVER, BC / ACCESSWIRE / August 2, 2023 / Nepra Foods Inc. (the "Company" or "Nepra") (CSE:NPRA)(FSE:2P6)(OTCQB:NPRFF) ) (the "Company" or "Nepra"), wishes to announce that its annual financial statements for the year ended March 31, 2023, including the related management discussion and analysis, and CEO and CFO certifications (collectively, the "Annual Financial Filings") were not filed as required under Canadian securities legislation by the required filing deadline of July 31, 2023.

In discussion with its auditors, the Company has determined that it is not able to meet the July 31, 2023 filing deadline (the "Filing Deadline") under Canadian securities legislation for the Annual Financial Filings. Due to a lack of financial resources, the Company was unable to pay its auditor in a timely manner and as a result, the audit of the Company's annual financial statements for the fiscal year ended March 31, 2023 was not commenced early enough to be completed by the Filing Deadline. The Company is now up-to-date on its accounts with its auditor and the auditor has now commenced the audit of the annual financial statements for the fiscal year ended March 31, 2023. The Company expects that the audit procedures will be completed and the Company will be able to file the Annual Financial Filings by September 29, 2023.

The Company has applied to the applicable Canadian securities regulatory authorities and received a management cease trade order related to the Company's securities to be imposed against the Chief Executive Officer and Chief Financial Officer of the Company to trade securities of the Company. The management cease trade order will be in effect until the Annual Financial Filings are filed, and requires that the Annual Financial Filings be filed on or around September 29, 2023.

Until the Annual Financial Filings are filed, the Company intends to provide information in accordance with National Policy 12-203 Management Cease Trade Orders.

About Nepra Foods

Nepra Foods is grounded in a passion for food. We believe eating healthy shouldn't be difficult. Everybody deserves food options that are truly nutritious and taste good. Food should not contain allergens that might prevent everybody in the family from enjoying it together. People shouldn't have to compromise quality and taste in what they eat even if they are trying to cut down on carbs, don't tolerate gluten or dairy very well, or don't want to eat food produced from animals. Nepra Foods is on a mission to make healthy, enjoyable food for everybody.