(TheNewswire)
Montreal, QC - TheNewswire - April 14 , 2023 - ATW TechInc. (" ATW " or the " Corporation ") announces that it hasapplied to the Autorité des marchés financiers (the “ AMF ”), theCompany’s principal regulator, for a management cease trade order(the “ MCTO ”) on April 14, 2023, under National Policy 12-203 Management CeaseTrade Orders (" NP 12-203 "). Pursuant to the MCTO, Carlos Bedran, Michel Guay, Christian Trudeauand Louis Lessard may not trade in securities of the Corporation untilsuch time as the Corporation files its audited financial statements,management’s discussion and analysis and related certifications forthe period ended December 31, 2022 (collectively the" RequiredDocuments "), which were to be filed on May1 st ,2023 and the AMF revokes the MCTO. The MCTO does not affect theability of other shareholders to trade their securities.
The Corporation’s Board of Directors and managementconfirm that they are working expeditiously to file the RequiredDocuments and expect to do so as soon as they are available, no laterthan May 31 st , 2023, and confirm that there is no other materialinformation respecting the Corporation’s affairs that has not beengenerally disclosed.
Until the Required Disclosure has been filed, theCorporation intends to continue to satisfy the provisions of thealternative information guidelines specified in NP 12-203 by issuingbi-weekly default status reports in the form of further press releasesfor so long as the Corporation remains in default of the periodicdisclosure filing requirements. In the event that the Corporation doesnot file the Required Disclosure, the Canadian Securities RegulatoryAuthorities may impose an issuer cease trade order on the outstandingsecurities of the Corporation.
Reasons for the Default and Plans forRemedying the Default
Due to a delay caused by the process of changing theexternal auditor, which requires an additional period to complete theextensive internal audit and review procedures, the Corporation willnot be able to file, before May 1 st , 2023, theRequired Documents for the fiscal year ended December 31, 2022.
The external auditor has notified ATW of theiravailability to carry out the audit and audit the financial statementsas soon as possible.
The Corporation’s Board of Directors and managementwill approve same, subject to any corrections or amendments putforward by the Corporation’s officers and directors. The Corporationwill then file the Required Documents with the securitiesregulators.
Additional information regarding ATW is available onSEDAR www.sedar.com. The TSX Venture Exchange and its RegulatoryServices provider (as per meaning assigned to this term in TSX VentureExchange’s policies) bear no liability as to the relevance oraccuracy of this press release.
About ATW Tech
ATW Tech (TSV-V: ATW) is a technology company, owner ofseveral recognized technology platforms such Semeon, Option.Vote andVoxtel. Semeon is a highly accurate and flexible text analysisplatform for customer reviews, and uses a unique combination ofmachine learning and natural language processing (NLP) to discoversignificant trends in customer reviews across all channels.Option.vote offers a custom multi-modal voting system for unions,political parties, professional associations and others looking for asecure way to reduce their voting costs and improve their turnout.VoxTel is a platform dedicated to telephone billing and alternativepayment solutions for fixed and mobile lines.
Caution Regarding Forward-LookingStatements
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.
For further information, please contact:
ATW Tech Inc.
Michel Guay
Founder, president and CEO
Tel.: 844.298.5932 ext. 301
mguay@atwtech.com
www.atwtech.com
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