Gnomestar Updates Late Filing of Annual & Q1 Interim Financial Statements and Management Cease Trade Order

August 30, 2021 – TheNewswire - Vancouver, British Columbia – Gnomestar Craft Inc. (CNSX:GNOM.CN) VDQSF (FWB:1JV1) ("Gnomestar" or the "Company") previously announced that, as a result of delays in completion of its audit, the Company had not filed its annual financial statements and accompanying management's discussion and analysis for the fiscal year ended March 31, 2021 (the "Annual Filings") by July 29, 2021 being the date that such filings are due under applicable Canadian securities law requirements. The Company has been granted, a management cease trade order (the "MCTO") by the British Columbia Securities Commission.

The Company reports that the biological assets reporting is complete and the audit is expected be completed imminently with all outstanding filings on or before September 14, 2021 and will issue a news release announcing completion of such filings at such time. Until the Company files the Annual Filings, it will comply with the alternative information guidelines set out in National Policy 12-203 – Management Cease Trade Orders for issuers who have failed to comply with a specified continuous disclosure requirement within the times prescribed by applicable securities laws. The guidelines, among other things, require the Company to issue bi-weekly default status reports by way of a news release so long as the Annual Filings have not been filed.

During the MCTO, the general investing public will continue to be able to trade in the Company's listed common shares. However, the Company's interim chief executive officer and chief financial officer will not be able to trade in the Company's shares.

About Gnomestar Craft Inc.

About Gnomestar Craft Inc.

Gnomestar Craft Inc. GNOM is a Craft cannabis company, producing the highest quality hand trimmed proprietary cultivars grown in its 12,000 sqft indoor Delta, BC. Facility.

For further information please contact:

Mark Lotz, Chief Executive Officer and CFO
Gnomestar Craft Inc.

Email: mark@vodis.ca

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