Predictiv AI Announces Cease Trade Order And Provides Update To Shareholders On Status Of Financial Statement Filings

Rhea-AI Summary

Predictiv AI Inc. (OTCQB: INOTF) announced delays in filing annual financial statements for the year ending January 31, 2022. The Ontario Securities Commission has issued a cease trade order (CTO) against the company due to this delay, halting all trading of its securities. The company is working to remedy the situation and anticipates the CTO may be lifted shortly after the required filings are made. There is uncertainty regarding the timely resolution and lifting of the CTO.

Positive

• Efforts are ongoing to remedy the filing default and lift the CTO.

Negative

• Cease trade order issued by the Ontario Securities Commission halting all trading.
• No assurance that the company can lift the CTO in a timely manner.

TORONTO, ON / ACCESSWIRE / June 8, 2022 / Predictiv AI Inc. (TSXV:PAI); (OTCQB: INOTF); (FSE:71TA) ("Predictiv AI" or the "Company"), www.predictiv.ai, a software and solutions provider in the artificial intelligence markets, continues to work diligently to complete the filing of its annual financial statements for the year ended Januaury31, 2022 and its related management's discussion and analysis, and officer certifications (collectively, the "Required Filings") which were due to be filed on May 31, 2022 (the "Filing Deadline").

The Company confirms that the Ontario Securities Commission (the "OSC") has issued a failure to file cease trade order against the Company (the "CTO") which orders that general trading, whether direct or indirect, of the securities of the Company cease. A copy of the CTO has been posted to the OSC website.

There is no assurance that the Company will be able to remedy its filing default and have the CTO lifted in a timely manner or at all. We are, however,continuing our efforts to remedy the situation and the revocation of the CTO is expected to occur within a few days after the Required Filings are made.

For more information on Predictiv AI, visit www.predictiv.ai and follow Predictiv AI on:

Facebook: https://www.facebook.com/PredictivAI/
Twitter: https://twitter.com/predictivai
LinkedIn: https://www.linkedin.com/company/predictivai/

Company Contact:
Khurram Qureshi
Mobile:647.831.1462
Email: kqureshi@predictiv.ai

About Predictiv AI Inc.
Predictiv AI Inc. www.predictiv.ai is a technology company which helps businesses and organizations make smarter decisions using advanced artificial intelligence, deep machine learning and data science techniques. Its Weather Telematics Inc. subsidiary uses patented air quality monitoring sensors to provide predictive weather risk information to the insurance, logistics, fleet management and public safety sectors. The Company's R&D division, AI Labs Inc.,develops new products that solve real-world business problems.

Cautionary and Forward-Looking Statements
Statements contained in this news release, which are not historical facts, are forward-looking statements that involve risk, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. All forward-looking statements included in this news release are based on information available to the Company on the date hereof. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results of the Company to differ materially from the conclusion, forecast or projection stated in such forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, ThermalPass achieving the commercial results anticipated by the Company, market demand for ThermalPass and other factors referenced in the Company's other continuous disclosure filings, which are available at sedar.com. Readers should not place undue reliance on these forward looking statements. The Company assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE)ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

SOURCE: Predictiv AI, Inc.

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FAQ

What did Predictiv AI announce regarding the cease trade order?

Predictiv AI announced a cease trade order issued by the Ontario Securities Commission due to delays in financial statement filings.

What is the status of Predictiv AI's annual financial statements?

The company is currently working to complete the required annual financial statements and related filings that were due by May 31, 2022.

How does the cease trade order affect trading of INOTF stock?

The cease trade order halts all trading of Predictiv AI's securities until the filing issues are resolved.

Is there a timeline for lifting the cease trade order for Predictiv AI?

The company expects the cease trade order to be lifted shortly after the required filings are submitted, but there is no guarantee on timing.