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Telecure Technologies Inc. Provides Update on the Filings of Its Audited Financial Statements and Related Management Cease Trade Order

C.TELE | May 30, 2022

VANCOUVER, British Columbia, May 30, 2022 (GLOBE NEWSWIRE) -- Telecure Technologies Inc. (“TELE” or the “Company”) (CSE: TELE) on May 2, 2022, announced a delay in the filing of its 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 “Filings”). The Filings were required to be made with the relevant securities regulatory authorities on or before May 2, 2022.

The delay of the Filings is due to the 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 continues working diligently to complete its audit procedures. The Company continues to anticipate that the Filings will be completed no later than June 30, 2022.

The Company has applied to the relevant securities regulators for a management cease trade order as contemplated by ‎National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”) of the Canadian Securities Administrators and has received such management cease trade order. The Company will comply with the requirements of the alternative information guidelines set out in NP 12-203. The Company is not subject to any insolvency proceedings.

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 and the Filings,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.