(TheNewswire)
Montreal, QC - TheNewswire - May 3, 2023 - ATWTech Inc. (the “ Company ” or“ ATW ”) ( TSX-V:ATW ) announces that, further to its newsrelease of April 14, 2023 (the “ Default Announcement ”), the Autorité des marchés financiers (the“ AMF ”), has issued a management cease trade order (the“ MCTO ”) dated May 2, 2023 in connectionwith the delay by the Company in filing its audited financialstatements, management’s discussion and analysis and relatedcertification for the period ended December 31, 2022 (collectively the“ RequiredDocuments ”), before the filing deadline of May1 st ,2023 (the “ FilingDeadline ”).
The Company has been working closely with its auditorsand now expects to file the Required Documents by June 30, 2023.
The Company’s failure to file the Required Documentsby the Filing deadline is due to a delay caused by the process ofchanging the external auditor, which requires an additional period tocomplete the extensive internal audit and review procedures.
As previously announced, pursuant to the MCTO, CarlosBedran, Michel Guay, Christian Trudeau and Louis Lessard may not tradesecurities of the Company until such time as the Company files theRequired Documents and the AMF revokes the MCTO. The MCTO does notaffect the ability to other shareholders to trade their securities.
The Company is providing this updated status report inaccordance with PolicyStatement 12-203 Management Cease Trade Orders (“ PS 12-203 ”). Until such time as the Company files the RequiredDocuments and the MCTO has been revoked, the Company intends tocontinue to satisfy the provisions of the alternative informationguidelines specified in PS 12-203 by issuing bi-weekly default statusreports in the form of further press releases.
Pursuant to the provisions of the alternativeinformation guidelines specified in PS 12-203, the Company confirmsthat, as of the date of this news release and except as noted above,(a) that there have been no material change to the informationcontained in the Default Announcement that would reasonably beexpected to be material to an investor; (b) there have been no failureby the defaulting Company to fulfill its stated intentions withrespect to satisfying the provisions of the alternative informationguidelines under PS 12-203; (c) there has not been, nor is thereanticipated to be, any specified default subsequent to the defaultwhich is subject of the Default Announcement; and (d) there is nomaterial information concerning the affairs of the Company that hasnot been generally disclosed.
ATW TECH PROFILE
ATW Tech is a technology company, owner of severalrecognized technology platforms such as Semeon Analytics, Option.voteand Voxtel. Semeon Analytics is a highly accurate and flexible textanalysis platform for customer reviews and uses a unique combinationof machine learning and natural language processing (NLP) to discoversignificant trends in customer reviews across all channels.Option.vote offers a customized multimethod voting system for unions,political parties, professional associations, and anyone looking for asecure way to reduce their voting costs andimprove their participation rate. VoxTel specializes in telephonebilling and alternative payment solutions for fixed and mobilelines.
Forward-Looking Statements andDisclaimer
Certain information contained hereinmay constitute “forward-looking information” or “forward-lookingstatements” under Canadian securities legislation. Suchforward-looking statements, including but not limited to statementsrelating to the expected development and operations of theCorporation, statements concerning the timing, review, completion andfiling of the Required Documents as well as the duration of the MCTO,involve risks, uncertainties and other factors which may cause theactual results to be materially different from those expressed orimplied by such forward-looking statements or forward-lookinginformation. There can be no assurance that such statements will proveto be accurate, as actual results and future events could differmaterially from those anticipated in such statements. Accordingly,readers should not place undue reliance on forward-looking statementsand forward-looking information. The Corporation will not update anyforward-looking statements or forward-looking information includedherein, except as required by applicable securities laws .
Additional information regarding ATWTech is available on SEDAR www.sedar.com
Source
ATW Tech Inc.
Michel Guay
President and CEO
mguay@atwtech.com
www.atwtech.com
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