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Montréal – TheNewswire - September 14, 2022 – ZeU Technologies, Inc. (CSE:ZEU) (OTC:ZEUCF) is issuing its third bi-weekly default status report in accordance with National Policy 12-203 – Management Cease Trade Orders.
ZeU is providing an update to its previously disclosed management cease trade order (“MCTO”), initially announced on August 2, 2022, in respect of the consolidated audited financial statements for the 15-month period ended March 31, 2022, including the related management’s discussion and analysis and the related Chief Executive Officer and Chief Financial Officer certifications, as well as the interim financial statements and corresponding management’s discussion and analysis for the period ended June 30, 2022, including the related Chief Executive Officer and Chief Financial Officer certifications (collectively, the “Financial Documents”) that were not filed by their respective filing deadlines of July 29, 2022, and August 29, 2022 (the “Filing Deadlines”).
The Financial Documents were not filed on or before the Filing Deadline as the new Auditors require additional time to complete the audit of the Corporation’s financial statements.
Management expects to file the Financial Documents no later than September 30, 2022. The Corporation will provide updates as further information relating to the Financial Documents becomes available.
The Corporation has applied to the applicable securities regulatory authorities and received a Management Cease Trade Order (“MCTO”) imposed against the Chief Executive Officer (CEO) and the Chief Financial Officer (CFO) of the Corporation, precluding them from trading securities of the Corporation. The MCTO will be in effect until the Financial Documents are filed and requires that the Financial Documents be filed on or before September 30, 2022.
Until the situation is normalized, the Corporation intends to issue bi-weekly default status reports in accordance with National Policy 12-203 – Management Cease Trade Orders. The Corporation intends to satisfy the provisions of the Alternative Information Guidelines during the period it remains in default of the filing requirements.
The Corporation confirms that there is no other material information relating to its affairs that has not been generally disclosed.
____________________________________________________________________________________ON BEHALF OF THE BOARD OF DIRECTORS
“Frank Dumas”
Frank Dumas
President & CEO
About ZeU
ZeU is a forward-thinking Canadian technology company that has developed a state-of-the-art DLT protocol, providing the foundation for the next generation of encrypted and distributed networks. Thanks to its high level of sophistication, ZeU’s technology maximizes transparency, security and scalability, as well as big data management. ZeU’s strategy is to monetize DLT transactions in diverse sectors such as payment, gaming, data, and healthcare.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
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