Bruush Announces Update on Previously Issued Financial Statements of 2022

(TheNewswire)

VANCOUVER, BC / April 19 , 2025 / Bruush Oral CareInc. (OTC Markets: BRSHF) (the "Company") todayannounced that management of the Company, after discussion with theaudit committee of the board of directors of the Company (the"Audit Committee"), concluded that the Company's auditedfinancial statements for the year ended October 31, 2022 (the"2022 Financial Statements") included in its Form 20-F forthe corresponding period should no longer be relied upon due to theerrors described below.  Similarly, related reports, press releases,earnings releases and investor communications describing the 2022Financial Statements should no longer be relied upon.

During the preparation and audit of theCompany's financial statements for the year ended October 31, 2023,management of the Company identified errors of amounts purported tohave been paid in 2022 for advertising, marketing, office andadministrative expenses.  These amounts are instead related to thewrongful misappropriation of the Company's funds by a former directorand officer of the Company (see news releases dated February 14, 2025and March 9, 2025) and should have been accounted as such.  TheCompany is currently unable to accurately quantify the errors butintends to provide an update at a later date as such informationbecomes known.

As a result of the foregoing, the Company intends to file its restatedfinancial statements for the year ended October 31, 2022, togetherwith its audited financial statements as of October 31, 2023, in its2023 Form 20-F.  The Company intends to file its 2023 Form 20-F assoon as possible and, therefore, does not plan to amend its 2022 Form20-F.

The Company's internal control over financial reporting was noteffective due to a material weakness that resulted in the errors notedabove, and the Company is in the process of implementing remediationplans to address the material weakness in the Company's internalcontrol over financial reporting.

The Audit Committee and management of the Company have discussed thematters disclosed in this news release with the Company's independentregistered public accounting firm, Ramirez Jiminez International CPAs.

SAFE HARBOR FORWARD-LOOKINGSTATEMENTS

This press release of Bruush Oral Care Inc. contains"forward-looking statements".  Words such as"may", "will", "could","should", "expects", "anticipates","intends", "plans", "believes","seeks", "estimates" and other comparableterminology are intended to identify forward-looking statements.  Forexample, the Company is using forward-looking statements when itdiscusses the restatement of its financial statements and the filingof its 2023 Form 20-F.  Forward-looking statements are not historicalfacts, and are based upon management's current expectations, beliefsand projections, many of which, by their nature are inherentlyuncertain.  Such expectations, beliefs and projections are expressedin good faith.  However, there could be no assurance thatmanagement's expectations, beliefs and projections will be achieved,and actual results may differ materially from what is expressed orindicated by the forward-looking statements.  Forward-lookingstatements are subject to risks and uncertainties that could causeactual performance or results to differ materially from thoseexpressed in the forward-looking statements, including those relatingto the completion of the Company's audit process, implementation ofcorrective adjustments, delays or the inability of the Company toobtain any necessary consents, approvals or authorizations required orthe timing and possible outcome of any pending or filed litigation.Forward-looking statements speak only as of the date the statementsare made.  The Company assumes no obligation to updateforward-looking statements to reflect actual results, subsequentevents or circumstances, changes in assumptions or changes in otherfactors affecting forward-looking statements except to the extentrequired by applicable securities laws.  If the Company does updateone or more forward-looking statements, no inference should be drawnthat the Company will make additional updates with respect thereto orwith respect to other forward-looking statements.

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