Cybeats Provides Required Biweekly MCTO Update

Rhea-AI Summary

On June 26, 2024, Cybeats Technologies Corp. (CSE: CYBT, OTCQB: CYBCF) provided an update regarding its default status report under National Policy 12-203. The company had previously announced on April 30, 2024, that it failed to file its annual financial statements and management discussion and analysis for the year ended December 31, 2023. Cybeats reiterated that there have been no material changes since the initial default announcement and it anticipates filing the required documents by June 28, 2024. Failure to meet this deadline could result in a cease trade order on Cybeats’ securities by Canadian regulatory authorities.

Positive

• Cybeats plans to file its overdue financial statements and management discussion by June 28, 2024.

Negative

• Cybeats has failed to file its annual financial statements for the year ended December 31, 2023, by the prescribed deadline.
• Potential cease trade order if the documents are not filed by June 30, 2024.

Toronto, Ontario--(Newsfile Corp. - June 26, 2024) - Cybeats Technologies Corp. (CSE: CYBT) (OTCQB: CYBCF) ("Cybeats'' or the "Company") announces that, further to its press releases of April 18, 2024, April 30, 2024, May 15, 2024, May 28, 2024 and June 12, 2024, the Company is providing a default status report in accordance with the alternative information guidelines set out in National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203").

On April 30, 2024, the Company announced (the "Default Announcement") that it had not filed its annual financial statements and management discussion and analysis for the year ended December 31, 2023, together with the related certification of filings under National Instrument 52-109 - Certification of Disclosure in Issuers' Annual and Interim Filings (collectively, the "Continuous Disclosure Documents") by the prescribed deadline of April 29, 2024.

Except as discussed below, there have been no material changes to the information contained in the Default Announcement or any other changes required to be disclosed under NP 12-203.

The Company anticipates that the Continuous Disclosure Documents will be filed prior to June 28, 2024. The Company will continue to provide bi-weekly updates, as contemplated by NP 12-203, until the Continuous Disclosure Documents have been filed. In the event that the Company does not file the Continuous Disclosure Documents by June 30, 2024 the Canadian Securities Regulatory Authorities may impose an issuer cease trade order on the outstanding securities of the Company. The Company intends to satisfy the provisions of the Alternative Information Guidelines during the period it remains in default of the filing requirements.

About Cybeats

Cybeats is a cybersecurity company providing SBOM management and software supply chain intelligence technology, helping organizations to manage risk, meet compliance requirements, and secure their software from procurement to development and operation. Our platform gives customers comprehensive visibility and transparency into their software supply chain, enabling them to improve operational efficiency and increase revenue. Cybeats. Software Made Certain. Website: https://cybeats.com.

SUBSCRIBE: For more information, or to subscribe to the Company's mail list, visit: https://www.cybeats.com/investors.

Contact:
James Van Staveren
Corporate Development
Phone: 1-888-713-SBOM (7266)
Email: ir@cybeats.com

Forward-Looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans for the products described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Company filings are available at www.sedarplus.ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/214443

FAQ

What did Cybeats Technologies announce on June 26, 2024?

Cybeats Technologies provided an update on its default status report under National Policy 12-203, stating that it plans to file its overdue financial documents by June 28, 2024.

What is the significance of the date June 30, 2024, for Cybeats Technologies?

If Cybeats Technologies does not file its continuous disclosure documents by June 30, 2024, Canadian regulatory authorities may impose a cease trade order on the company’s securities.

What financial documents has Cybeats Technologies failed to file?

Cybeats Technologies failed to file its annual financial statements and management discussion and analysis for the year ended December 31, 2023.

What could happen if Cybeats Technologies doesn’t file its financial documents by June 28, 2024?

If Cybeats Technologies does not file its financial documents by June 28, 2024, the company risks facing a cease trade order from Canadian regulatory authorities.