VSBLTY PROVIDES BI-WEEKLY STATUS UPDATE
PHILADELPHIA, PA., June 12, 2024 (GLOBE NEWSWIRE)—VSBLTY Groupe Technologies Corp. (the “Company” or “VSBLTY”) (OTCQB: VSBGF) (CSE: VSBY) (Frankfurt 5VS), a leading software provider of security and retail analytics technology, announces, is providing this bi-weekly status report of its Management Cease Trade Order in accordance with National Policy 12-203 – Management Cease Trade Orders. As described in the Company’s news release on May 1, 2024, and bi-weekly news release update on May 22, 2024 and May 29, 2024, the filing of its annual financial statements for the year ended December 31, 2023, including the related management discussion and analysis, and CEO and CFO certifications (collectively, the “Annual Financial Filings”) were not filed by the required filing deadline.
The Company confirms that there are no changes from its news release dated May 29, 2024. The Company is working on the steps required to complete the Annual Financial Filings and expects to be able to file the Annual Financial Filings on or before June 28, 2024. The Company will provide updates as further information relating to the Annual Financial Filings becomes available.
The Company has applied to the applicable securities regulatory authorities and received a management cease trade order (“MCTO”) imposed against the Chief Executive Officer and Chief Financial Officer of the Company precluding them from trading securities of the Company. The MCTO will be in effect until the Annual Financial Filings are filed and requires that the Annual Financial Filings be filed on or before June 28, 2024.
Until the Annual Financial Filings are filed, the Company intends to issue bi-weekly default status reports in accordance with National Policy 12-203 – Management Cease Trade Orders. The Company intends to satisfy the provisions of the Alternative Information Guidelines during the period it remains in default of the filing requirements. The Company confirms that there is no other material information relating to its affairs that has not been generally disclosed.
The Company Issued 2,055,459 earn-out Shares, pursuant to the terms and conditions of a Membership Interest Purchase Agreement dated October 20, 2023 among Shelf Nine LLC, members of Shelf Nine LLC, VSBLTY, Inc., a wholly-owned subsidiary of the Company, and the Company.
On Behalf of the Board of VSBLTY Groupe Technologies Corp.
“Jay Hutton”
CEO & Director
Investor Relations
Harbor Access
Jonathan Paterson, 475-477-9401
Jonathan.Paterson@Harbor-Access.com
Graham Farrell, +1-416-842-9003
Graham.Farrell@Harbor-Access.com
CONTACT: Linda Rosanio, 609-472-0877
lrosanio@vsblty.net
About VSBLTY (http://vsblty.net/)
Headquartered in Philadelphia, VSBLTY (OTCQB: VSBGF) (CSE: VSBY) (Frankfurt: 5VS) (OTC: VSBGF) (“VSBLTY”) is the world leader in Proactive Digital DisplayTM, which transforms retail and public spaces as well as place-based media networks with SaaS-based audience measurement and security software that uses artificial intelligence and machine learning. Its proprietary technology effectively integrates with other digital retail solutions, including QR codes and mobile applications. The firm is also recognized for its leadership role in the growing Store as a Medium movement that enables brands to reach customers when and where buying decisions are being made while producing a new revenue stream for retailers.
FORWARD LOOKING INFORMATION STATEMENT
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur including the Company’s anticipated pipeline and value of current and customer deployments and future opportunities are the managements best estimates and cannot be guaranteed or relied upon and is forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements in this news release, whether as a result of new information, future events or otherwise, except as required by law.