Elixxer Ltd. To Postpone Filing Of Annual Financial Statements And MD&A Due To COVID-19 Related Delays

MONTRÉAL, Québec, April 27, 2020 (GLOBE NEWSWIRE) -- Elixxer Ltd. (the "Corporation” or "Elixxer”) (TSX-V: ELXR and OTC-QB: ELIXF) announces that, due to logistics and delays caused by the COVID-19 pandemic, it will postpone the filing of its annual consolidated financial statements and related management’s discussion for the 15-month period ended December 31, 2019 (the "Disclosure Documents”).

Elixxer is relying on the blanket exemption provided by the Autorité des marchés financiers and similar exemptions provided by the other members of the Canadian Securities Administrators pursuant to which issuers are granted an additional 45 days to complete their regulatory filings.  Elixxer anticipates that its Disclosure Documents will be filed on or about June 15, 2020.  Until such time as the Disclosure Documents are filed, as required by the conditions of the extension, Elixxer’s management and other insiders will be subject to a trading black-out that reflects the principles in Section 9 of Policy Statement 11-207.

Other than as previously disclosed by Elixxer in news releases, including the information herein, there are no other material developments since the date of the Corporation’s most recent filings of its interim financial statements and related management’s discussion and analysis for the period ended September 30, 2019.  Elixxer will provide an updated news release on the status of the filing of its Disclosure Documents by May 29, 2020.

About Elixxer Ltd. (www.elixxer.com)

Elixxer Ltd. is a leading cannabis investment firm with a focus on the legal global cannabis market. Through its growing portfolio of investment companies, ELXR is building a transversal integrated organization of interconnected legal cannabis companies with cultivation, processing and distribution in Australia, Jamaica, Switzerland, Italy, and Canada serving domestic and export markets. Elixxer Ltd. is a Canadian incorporated public company listed on the TSX Venture Exchange (TSX-V: ELXR) and the US OTC-QB exchange (OTCQB: ELIXF).

For further information please contact:

President, John McMullen, +1-416-803-0698, john@elixxer.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Notice Regarding Forward Looking Statements

This press release may contain forward-looking statements with respect to Elixxer and its operations, strategy, investments, financial performance and condition. These statements can generally be identified by use of forward-looking words such as "may”, "will”, "expect”, "estimate”, "anticipate”, "intends”, "believe” or "continue” or the negative thereof or similar variations. The actual results and performance of Elixxer could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Some important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, government regulation and the factors described under "Risk Factors and Risk Management” in Elixxer’s most recent Management’s Discussion and Analysis filed on SEDAR (www.sedar.com). The cautionary statements qualify all forward-looking statements attributable to Elixxer and persons acting on its behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release, and Elixxer has no obligation to update such statements, except to the extent required by applicable securities laws.