Triterras Announces Listing Extension Granted by Nasdaq

Rhea-AI Summary

Triterras Inc. (Nasdaq: TRIT, TRITW), a fintech company focused on trade finance, announced it has received an extension from Nasdaq to regain compliance with its Listing Rules. The extension allows Triterras until November 1, 2021, to file its Annual Report on Form 20-F for the fiscal year ending February 28, 2021, with the SEC. This follows a previous notice from Nasdaq on July 1, 2021, indicating non-compliance due to the late filing of the report. Triterras operates the Kratos™ platform, connecting commodity traders with lenders online.

Positive

• Granting of extension until November 1, 2021, to comply with Nasdaq Listing Rules.
• Continued operation of the Kratos™ platform, a key asset for trade finance.

Negative

• Late filing of the 2021 Annual Report with the SEC raises compliance concerns.
• Initial notice of non-compliance issued by Nasdaq on July 1, 2021.

SINGAPORE, Aug. 26, 2021 (GLOBE NEWSWIRE) -- Triterras Inc. (Nasdaq: TRIT, TRITW) (“Triterras” or the “Company”), a leading fintech company focused on trade and trade finance, today announced that the Company received notice from the Listing Qualifications Department of the NASDAQ Stock Market (“Nasdaq”) that its request for an extension to regain compliance with the Nasdaq Listing Rules has been granted. The Company has until November 1, 2021 to file its Annual Report on Form 20-F for the fiscal year ended February 28, 2021 (the “2021 Annual Report”) with the U.S. Securities and Exchange Commission.

As previously disclosed, Triterras received a notice (the “Notice”) from the Listing Qualifications Department of Nasdaq on July 1, 2021 stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) because it had not timely filed its 2021 Annual Report with the U.S. Securities and Exchange Commission. Nasdaq Listing Rule 5250(c)(1) requires listed companies to timely file all required public financial reports with the SEC.

About Triterras
Triterras is a leading fintech company focused on trade and trade finance. It launched and operates Kratos™—one of the world’s largest commodity trading and trade finance platforms that connects and enables commodity traders to trade and source capital from lenders directly online. For more information, please visit triterras.com or email us at contact@triterras.com.

Forward Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Triterras’ actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include Triterras’ expectations with respect to future performance. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside Triterras’ control and are difficult to predict. Factors that may cause such differences include but are not limited to risks and uncertainties incorporated by reference under “Risk Factors” in Triterras’ Form 20-F (001-39693) filed with the Securities and Exchange Commission (the “SEC”) on November 16, 2020 (the “Form 20-F”) and in Triterras’ other filings with the SEC. Triterras cautions that the foregoing list of factors is not exclusive. Triterras cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Triterras does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.

Investor Relations Contacts:
Jim Groh, Triterras Inc.
Mobile: +1 (678) 237-7101
Email: IR@triterras.com

Gateway Investor Relations
Cody Slach and Matt Glover
Office: +1 (949) 574-3860
Email: TRIT@gatewayir.com

Media Contacts:
Gregory Papajohn, Office of Corporate Communications, Triterras, Inc.
Mobile: +1 (917) 287-3626
Email: press@triterras.com

FAQ

What is Triterras Inc.'s current compliance status with Nasdaq?

Triterras has received an extension to file its Annual Report, allowing compliance until November 1, 2021.

What does the extension from Nasdaq mean for Triterras?

The extension provides Triterras additional time to file its Annual Report and regain compliance with Nasdaq Listing Rules.

When is the new deadline for Triterras to file its Annual Report?

The new deadline for filing the Annual Report is November 1, 2021.

What led to Triterras being cited for non-compliance by Nasdaq?

Triterras was cited for non-compliance due to the late filing of its 2021 Annual Report.

What platform does Triterras operate?

Triterras operates Kratos™, a significant commodity trading and trade finance platform.