(TheNewswire)
Montréal – TheNewswire - August 31, 2022 – ZeU Technologies, Inc. (CSE:ZEU)(OTC:ZEUCF) is issuing its second bi-weekly default statusreport in accordance with National Policy 12-203 – Management Cease Trade Orders .
ZeU is providing an update to its previously disclosedmanagement cease trade order (“ MCTO ”), initially announced on August 2,2022, in respect of the consolidated auditedfinancial statements for the 15-month period ended March 31, 2022,including the related management’s discussion and analysis and therelated Chief Executive Officer and Chief Financial Officercertifications, as well as the interim financial statements andcorresponding management’s discussion and analysis for the periodended June 30, 2022, including the related Chief Executive Officer andChief Financial Officer certifications (collectively, the“ FinancialDocuments ”) that were not filed by theirrespective filing deadlines of July 29, 2022, and August 29, 2022 (the“ FilingDeadlines ”).
The Financial Documents were not filed on or before the FilingDeadline as the new Auditors require additional time to complete theaudit of the Corporation’s financial statements.
Management expects to file the Financial Documents no later thanSeptember 30, 2022. The Corporation will provide updates as furtherinformation relating to the Financial Documents becomes available.
The Corporation has applied to the applicable securities regulatoryauthorities and received a Management Cease Trade Order (“ MCTO ”) imposed against the ChiefExecutive Officer (CEO) and the Chief Financial Officer (CFO) of theCorporation, precluding them from trading securities of theCorporation. The MCTO will be in effect until the Financial Documentsare filed and requires that the Financial Documents be filed on orbefore September 30, 2022.
Until the situation is normalized, the Corporation intends to issuebi-weekly default status reports in accordance with National Policy12-203 – Management Cease TradeOrders . The Corporation intends to satisfy the provisions ofthe Alternative Information Guidelines during the period it remains indefault of the filing requirements.
The Corporation confirms that there is no other material informationrelating to its affairs that has not been generally disclosed.
____________________________________________________________________________________ ONBEHALF OF THE BOARD OF DIRECTORS
“FrankDumas”
Frank Dumas
President & CEO
About ZeU
ZeU is a forward-thinking Canadian technology company that hasdeveloped a state-of-the-art DLT protocol, providing the foundationfor the next generation of encrypted and distributed networks. Thanksto its high level of sophistication, ZeU’s technology maximizestransparency, security and scalability, as well as big datamanagement. ZeU’s strategy is to monetize DLT transactions indiverse sectors such as payment, gaming, data, and healthcare.
The Canadian Securities Exchange(CSE) has not reviewed and does not accept responsibility for theadequacy or the accuracy of the contents of this release.
Copyright (c) 2022 TheNewswire - All rights reserved.