Perk Labs Inc. Provides Update on Status of MCTO

Rhea-AI Summary

Perk Labs Inc. (CSE:PERK, OTC PINK:PKLBF, FKT:PKLB) has announced an update regarding the management cease trade order (MCTO) issued by the British Columbia Securities Commission on April 3, 2024. The MCTO, which restricts trading by the company's CEO and CFO, has been extended to July 4, 2024, due to delays in preparing audited financial statements for the fiscal year ending November 30, 2023. The MCTO does not impact other shareholders' ability to trade the company's securities. Perk Labs continues to work towards completing the filings and remains compliant with alternative information guidelines.

Positive

• The MCTO extension does not affect other shareholders' ability to trade.
• The company is diligently working to complete its annual filings.

Negative

• The company has delayed the preparation of audited financial statements.
• The MCTO is extended until July 4, 2024, indicating ongoing compliance issues.

VANCOUVER, BC / ACCESSWIRE / June 19, 2024 / Perk Labs Inc. (CSE:PERK)(OTC PINK:PKLBF)(FKT:PKLB) ("Perk" or the "Company"), is providing a further update on the status of the management cease trade order (the "MCTO") that was granted by the British Columbia Securities Commission (the "BCSC") on April 3, 2024.

The Company applied to the BCSC for an extension of the MCTO due to unexpected delays with the preparation of its audited annual financial statements and the related management's discussion and analysis for the year ended November 30, 2023,(the "Annual Filings"), which were due on April 1, 2024. The Company has been granted an extension of the MCTO until July 4, 2024.

The MCTO prohibits all trading in the capital of the Company, whether directly or indirectly, by the Company's CEO and CFO. The MCTO does not affect the ability of other shareholders to trade in the securities of the Company.

The Company and its auditors continue to work diligently toward completing the Annual Filings as soon as possible.

The Company confirms that since the date of the earlier announcement: (i) other than as described above, there has been no material change to the information set out in the announcement that has not been generally disclosed; (ii) there has been no failure by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203; (iii) there has not been any other specified default by the Company under NP 12-203; and (iv) there is no other material information concerning the affairs of the Company that has not been generally disclosed.

The Company will continue to satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing bi-weekly default status reports in the form of news releases for so long as it remains in default of the above-noted filing requirements

About Perk Labs Inc.
Perk Labs Inc., (CSE:PERK)(OTC PINK:PKLBF)(FKT:PKLB), the owner of Getit Technologies Inc. and Perk Hero Software Inc. ("Perk Labs"), provides innovative mobile ordering and payment systems, allowing customers the ability to scan a QR code or NFC sticker to order and pay for their purchases directly from their phone. Perk Labs specializes in providing a single unified payment interface for complex purchase environments - environments that have multiple retailers processing an array of different transactions, including food and beverage purchases, merchandise sales, ticketing, registrations, donations, parking fees, and service payments. Perk Labs provides a custom-branded solution that is ideal for multi-transaction brands such as stadiums and arenas, university and college campuses, conference centers, hotels and resorts, festivals and events, and professional service companies.

For more information, contact:
Ryan Hardy
CEO
(833) 338-0299
investors@getittechnologies.io

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements
This press release contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: "may", "believe", "thinks", "expect", "exploring", "expand", "could", "anticipate", "intend", "estimate", "plan", "pursue", "potentially", "projected", "should", "will" and similar expressions, or are those, which, by their nature, refer to future events. These forward-looking statements, which involve risks and uncertainties, relate to, among other things, the discussion of the Company's business strategies and its expectations concerning future operations, and expectations of future revenues for the Company. Although the Company considers these forward-looking statements to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking statements. Undue reliance should not be placed on such forward-looking information, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur.

SOURCE: Perk Labs Inc.  

View the original press release on accesswire.com

FAQ

What is the status of the MCTO for Perk Labs Inc. (PKLBF)?

The MCTO has been extended to July 4, 2024, due to delays in preparing the audited financial statements for the year ended November 30, 2023.

Does the MCTO affect all shareholders of Perk Labs Inc. (PKLBF)?

No, the MCTO only prohibits trading by the company's CEO and CFO. Other shareholders can continue to trade the company's securities.

Why was the MCTO extended for Perk Labs Inc. (PKLBF)?

The MCTO was extended due to unexpected delays in the preparation of the company's audited annual financial statements and related management's discussion and analysis.

When are the new deadline and the status update for Perk Labs Inc. (PKLBF)?

The new deadline for the MCTO is July 4, 2024, and the company will issue bi-weekly updates on its status.

What efforts is Perk Labs Inc. (PKLBF) making to comply with the MCTO extension?

Perk Labs and its auditors are working diligently to complete the annual filings as soon as possible and will continue to provide bi-weekly default status reports.