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BTQ TECHNOLOGIES CORP. PROVIDES BI-WEEKLY MCTO STATUS UPDATE

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BTQ Technologies Corp. provides a bi-weekly update on the management cease trade order issued by the British Columbia Securities Commission. The Company expects to file its annual financial statements by May 2, 2024, following a previous default announcement. The Company commits to issuing bi-weekly default status reports until the filings are complete.
BTQ Technologies Corp. fornisce un aggiornamento bisettimanale sull'ordine di cessazione delle attività di gestione emesso dalla Commissione per i Titoli di British Columbia. La società prevede di presentare i suoi bilanci annuali entro il 2 maggio 2024, a seguito di un precedente annuncio di inadempienza. La società si impegna a rilasciare rapporti di stato di inadempienza bisettimanali fino al completamento delle presentazioni.
BTQ Technologies Corp. proporciona una actualización quincenal sobre la orden de cese de comercio de gestión emitida por la Comisión de Valores de Columbia Británica. La compañía espera presentar sus estados financieros anuales para el 2 de mayo de 2024, tras un anuncio previo de incumplimiento. La compañía se compromete a emitir informes de estado de incumplimiento cada dos semanas hasta que se completen los informes.
BTQ 테크놀로지스 코프는 브리티시 컬럼비아 증권위원회가 발행한 경영 중단 명령에 대해 격주로 업데이트를 제공합니다. 회사는 이전의 불이행 발표에 따라 2024년 5월 2일까지 연간 재무제표를 제출할 예정입니다. 회사는 제출이 완료될 때까지 격주로 불이행 상태 보고서를 발행할 것을 약속합니다.
BTQ Technologies Corp. fournit une mise à jour bi-hebdomadaire sur l'ordre d'arrêt de gestion du commerce émis par la Commission des valeurs mobilières de la Colombie-Britannique. La société prévoit de déposer ses états financiers annuels d'ici le 2 mai 2024, suite à une annonce de défaut précédente. La société s'engage à publier des rapports de statut de défaut toutes les deux semaines jusqu'à ce que les dépôts soient complets.
BTQ Technologies Corp. bietet ein zweiwöchentliches Update über die von der British Columbia Securities Commission erteilte Anordnung zur Einstellung des Handelsmanagements. Das Unternehmen plant, seine Jahresabschlüsse bis zum 2. Mai 2024 einzureichen, nach einer vorherigen Nichterfüllungsankündigung. Das Unternehmen verpflichtet sich, bis zum Abschluss der Einreichungen zweiwöchentliche Berichte über den Nichterfüllungsstatus zu veröffentlichen.
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VANCOUVER, BC, April 17, 2024 /PRNewswire/ - BTQ Technologies Corp. (the "Company") (CBOE CA: BTQ) (FSE: NG3) (OTCQX: BTQQF) is providing this bi-weekly update on the status of the management cease trade order issued on April 3, 2024 (the "MCTO"), by its principal regulator, the British Columbia Securities Commission (the "BCSC"), under National Policy 12-203 - Management Cease Trade Orders ("NP 12-203"), after the Company's previous announcement on March 18, 2024 (the "Default Announcement"), that it expected to be unable to file its audited annual financial statements for the year ended December 31, 2023 and associated management's discussion and analysis and certifications, along with its annual information financial form for the year ended December 31, 2023 (collectively, the "Annual Filings"). The Company anticipates filing the Annual Filings on or before May 2, 2024.

Except as herein disclosed, there are no material changes to the information contained in the Default Announcement or the Company's subsequent press release on April 4, 2024 with respect to the issuance of the MCTO. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Annual Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Annual Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.

About BTQ

BTQ was founded by a group of post-quantum cryptographers with an interest in addressing the urgent security threat posed by large-scale universal quantum computers. With the support of leading research institutes and universities, BTQ is combining software and hardware to safeguard critical networks using unique post-quantum services and solutions.

Connect with BTQ: Website | LinkedIn

ON BEHALF OF THE BOARD OF DIRECTORS
Olivier Roussy Newton
CEO, Chairman

Neither Cboe Canada nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes, but is not limited to, statements regarding the timing, review, completion and filing of the Annual Filings, and duration of the MCTO; business goals and objectives of the Company, and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.

Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to: the Company may not complete its audit and file the Annual Filings as currently anticipated, or at all; the Company will be subject to a general cease trade order in the event that the Annual Filings are not completed and filed; and other related risks as more fully set out in the documents disclosed under the Company's filings at www.sedarplus.ca.

The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's ability to complete and file the Annual Filings. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

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SOURCE BTQ Technologies Corp.

FAQ

What is the status update provided by BTQ Technologies Corp.?

BTQ Technologies Corp. is providing a bi-weekly update on the management cease trade order issued by the British Columbia Securities Commission.

When does the Company expect to file its annual financial statements?

The Company anticipates filing its annual financial statements by May 2, 2024.

What commitment has the Company made regarding the default status reports?

The Company commits to issuing bi-weekly default status reports until the delay in filing the annual financial statements is resolved.

BTQ TECHNOLOGIES CORP

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