VANCOUVER, British Columbia, May 03, 2022 (GLOBE NEWSWIRE) -- Telecure Technologies Inc. (“TELE” or the “Company”) (CSE: TELE), announces that it has missed the deadline of May 2, 2022 to file the Company’s audited annual financial statements and management discussion & analysis for the financial years ended December 31, 2021 and 2020, and the CEO and CFO certificates, all as required by National Instrument 51-102 - Continuous Disclosure Obligations and National Instrument 52-109 - Certification of Disclosure in Issuers’ Annual and Interim Filings (collectively, the “Documents”).
The delay is due to fact that the Company is having difficulty accessing various documents and information required in order to respond to the auditor-prepared provided by client list. The Company has informed the British Columbia Securities Commission (“BCSC”) of its delay in filing the Documents and has applied for and received a Management Cease Trade Order (“MCTO”) from the BCSC pursuant to Part 4 of National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”), pending the filing of the Documents, which MCTO prohibits the Company’s management from trading in the securities of the Company until such time as the Documents are filed.
During the period of default and until the filing of the Documents, the Company intends to satisfy the provisions of the “alternative information guidelines” as set out in NP 12-203, including the requirement to file bi-weekly status reports in the form of news releases containing prescribed updating information. The Company intends to work diligently and expeditiously and aims to file the Documents by June 30, 2022.
Until the Company has filed the Documents, members of the Company’s management and other insiders are subject to an insider trading black-out. The Company confirms that, other than as disclosed in prior press releases and material change reports, there have been no material business developments since the filing of the Company’s latest interim financial report.
The Company is not currently subject to any insolvency proceedings. If the Company provides any information to any of its creditors during the period in which it is in default of filing the Documents, the Company confirms that it will also file material change reports on SEDAR containing such information as is required.
Contact
Investor Relations
Phone: 604-398-3432
Email: invest@telecuretech.com
Website: www.telecuretech.com
Forward-LookingStatements
Certain statements contained in this press release constitute “forward-looking information” as such term isdefined in applicable Canadian securities legislation. The words “may”, “would”, “could”, “should”, “potential”,“will”, “seek”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions as theyrelate to the Company, including statements with respect to the MCTO in respect of the Company,are intended to identify forward-looking information. All statements other than statements of historical fact maybeforward-lookinginformation.SuchstatementsreflecttheCompany'scurrentviewsandintentionswithrespectto future events, and current information available to the Company, and are subject to certain risks, uncertaintiesandassumptions.Many factorscouldcausetheactual results,performanceorachievements thatmay beexpressed or implied by such forward-looking information to vary from those described herein should one ormore of these risks or uncertainties materialize. Examples of such risk factors include, without limitation: credit;market (including equity, commodity, foreign exchange and interest rate); liquidity; operational (includingtechnologyandinfrastructure);reputational;insurance;strategic;regulatory;legal;environmental;capitaladequacy; the general business and economic conditions in the regions in which the Company operates; theabilityoftheCompanytoexecuteonkeypriorities,includingthesuccessfulcompletionofacquisitions,business retention, and strategic plans and to attract, develop and retain key executives; difficulty integrating newlyacquired businesses; the ability to implement business strategies and pursue business opportunities; disruptions in or attacks (including cyber-attacks) on the Company's information technology,internet, network access or other voice or data communications systems or services; the evolution of varioustypes of fraud or other criminal behavior to which the Company is exposed; the failure of third parties to comply with their obligations to the Company or its affiliates; the impact of new and changes to, or application of,current laws and regulations; decline of reimbursement rates; a novel business model; dependence on key suppliers; the overall difficult litigation environment; increased competition;increased funding costs and market volatility due to market illiquidity andcompetitionforfunding;theavailabilityoffundsandresourcestopursueoperations;criticalaccountingestimates and changes to accounting standards, policies, and methods used by the Company; the occurrence ofnatural and unnatural catastrophic events and claims resulting from such events; and risks related to COVID-19includingvariousrecommendations,ordersandmeasuresofgovernmentalauthoritiestotrytolimitthepandemic,includingtravelrestrictions,borderclosures,non-essentialbusinessclosures,quarantines,self-isolations, shelters-in-place and social distancing, disruptions to markets, economic activity, financing,supply chains and sales channels, and a deterioration of general economic conditions including a possiblenational or global recession; as well as those risk factors discussed or referred to in the Company’s disclosuredocuments filed with the securitiesregulatoryauthoritiesincertainprovincesofCanadaandavailableatwww.sedar.com. Shouldany factor affect the Company in an unexpected manner, or should assumptions underlying the forward-lookinginformationproveincorrect,theactualresultsoreventsmay differmaterially from theresultsoreventspredicted.Anysuchforward-lookinginformationisexpresslyqualifiedinitsentiretybythiscautionarystatement. Moreover, the Company does not assume responsibility for the accuracy or completeness of suchforward-looking information. The forward-looking information included in this press release is made as of thedateofthispressreleaseandtheCompanyundertakesnoobligationtopubliclyupdateorreviseanyforward-lookinginformation,otherthan asrequiredby applicablelaw.
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