(TheNewswire)
Montréal – TheNewswire - August 17, 2022 – ZeU Technologies, Inc. (CSE:ZEU) (CNSX:ZEU.CN) (OTC:ZEUCF) is issuing its firstbi-weekly default status reports in accordance with National Policy12-203 – Management Cease TradeOrders .
On August 2, 2022, the Company announced that its consolidatedaudited financial statements for the 15-month period ended March 31,2022, including the related management’s discussion and analysis andthe related Chief Executive Officer and Chief Financial Officercertifications (collectively, the “ Financial Documents ”), would not be filed by the requiredfiling deadline of July 29, 2022.
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 CSE has in no way passed uponthe merits of the Transaction and has neither approved nor disapprovedthe contents of this press release.
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