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Cannibble Food-Tech Ltd
Symbol PLCN
Shares Issued 40,950,185
Close 2026-05-15 C$ 0.08
Market Cap C$ 3,276,015
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Cannibble adopts semi-annual financial reporting

2026-05-20 14:47 ET - News Release

Mr. Yoav Bar-Joseph reports

CANNIBBLE FOODTECH LTD. ANNOUNCES ADOPTION OF SEMI-ANNUAL REPORTING

Cannibble Food-Tech Ltd. has adopted a semi-annual financial reporting (SAR) framework, effective immediately. This change is being made pursuant to the Coordinated Blanket Order 51-933, Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers.

CBO 51-933 allows eligible venture issuers to voluntarily move from a quarterly to a semi-annual financial reporting framework.

Transition details

Cannibble's fiscal year ends on Dec. 31. Under the SAR framework, the company will be exempt from filing interim financial reports and related management discussion and analysis (MD&A) for its first and third quarters for so long as it continues to meet eligibility criteria under CBO 51-933.

By adopting the SAR, Cannibble aims to reduce the administrative and financial burden associated with quarterly reporting, allowing management to focus resources on advancement of different projects.

  • Initial interim period: The company will not file an interim report for the first quarter (Q1) ended March 31, 2026, and the third quarter (Q3) ending Sept. 30, 2026.
  • Continuing reporting: Cannibble will continue to file audited annual consolidated financial statements (due within 120 days of Dec. 31, 2026) and six-month interim financial reports (due within 60 days of June 30).
  • Continued disclosure: The company remains committed to timely disclosure and will continue to report all material changes and significant developments as required under National Instrument 51-102.
  • Eligibility: Cannibble confirms it meets the pilot program's eligibility criteria, which includes being a venture issuer with annual revenues of less than $10-million and maintaining a clean 12-month continuous disclosure record.
  • Continued participation: Should the company cease to continue participating in the SAR pilot program, it will announce it in a future news release.

About Cannibble Food-Tech Ltd.

Cannibble Food-Tech is a food technology company focused on the development and commercialization of innovative food and beverage products enhanced with alternative proteins and functional ingredients.

In the past months, the company has upgraded its food product development capabilities and is currently working on developing an AI-powered (artificial intelligence) formulation agent designed to assist food scientists, technologists and product developers in the creation and optimization of food and beverage formulations. This AI agent is intended to autonomously analyze ingredient functionality, nutritional targets, sensory profiles, regulatory requirements and manufacturing parameters in order to generate and optimize product formulations. The agent is also being designed to interface with robotic manufacturing solutions capable of producing these formulations in automated production environments.

Driven by the rapid and transformative advancement of artificial intelligence across virtually every aspect of modern life and industry, the company believes that AI-powered development tools and robotics will become a central component in the future of food innovation. By leveraging machine learning, large data sets and predictive modelling, the AI agent is expected to significantly shorten research and development cycles, reduce formulation costs, and improve the efficiency and accuracy of product innovation.

In addition, the company is developing a consumer-facing AI agent app designed to assist end-users in creating and adapting recipes based on their individual preferences and profiles. The app is intended to personalize recipes according to a wide range of parameters, including nutritional goals, dietary restrictions, allergies, lifestyle choices and taste preferences. This technology aims to provide users with tailored culinary recommendations and optimized meal preparation solutions.

All of these technologies are being developed in-house, leveraging the extensive knowledge, industry experience and decades of expertise of the company's team in food technology, product formulation and consumer food innovation.

In synergy with the above, the company has also established an innovation division focused on robotics and artificial intelligence solutions through strategic collaborations with manufacturers of existing and proven technologies. This division leverages the company's existing relationships within the food service, hospitality and service industries and is engaged in the marketing and commercialization of AI-enabled robotic technologies designed to support automation, operational efficiency and scalable service delivery across food service, hospitality and industrial environments.

The division is designed to provide the company's clients with comprehensive robotics and AI solutions in a 360-degree approach, offering a one-stop shop for automation technologies, integration and deployment across their operations.

We seek Safe Harbor.

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