Yooma Wellness Inc. provided a corporate update. The Company is engaged in an ongoing operational restructuring aimed at addressing depressed market conditions in the CBD wellness industry, the Company's increasing liquidity constraints and lack of working capital. The initial phases of this restructuring involved the wind-down of the Company's operations in the United States last year, and has gradually expanded to include the Company's operations in other unprofitable markets.

In parallel with these restructuring initiatives, the Company has also been engaged in a continuing review of strategic alternatives for the Company, however, that process has to date been unsuccessful in identifying a path forward.