Investigation announced for Investors in shares of Champignon Brands Inc. (OTC: SHRMF)

An investigation was announced concerning potential securities laws violations by Champignon Brands Inc. in connection with certain financial statements.

Investors who purchased shares of Champignon Brands Inc. (OTC: SHRMF), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether certain statements by Champignon Brands Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Canada based Champignon Brands Inc. cultivation, distribution, and proliferation of medicinal mushrooms and its derivatives in North America.

On February 17, 2021, Champignon Brands Inc. announced that “the Company has determined to withdraw and refile its condensed interim consolidated financial statements and management’s discussion & analysis (‘MD&A’) for the three and six month periods ended March 31, 2020”. Further, Champignon Brands Inc. stated that “management determined that the financial statements needed to be restated to correct the accounting for the Acquisitions as the assets do not meet the definition of intangible assets for the purposes of international financial reporting standards and as result will be recorded as transaction costs in the Company’s statement of loss and comprehensive loss.” The Company also announced that “it was determined that a shareholder and contracted consultant (the ‘Consultant’) of the Company was a related party with respect to the Acquisitions.”

Shares of Champignon Brands Inc. (OTC: SHRMF) declined from $1.06 per share on December 14, 2020, to as low as $0.355 per share on March 23, 2021.

Those who purchased shares of Champignon Brands Inc. (OTC: SHRMF) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.