Vancouver, British Columbia, April 17, 2024 – NFT Technologies Inc. (Cboe Canada: NFT |Frankfurt: 8LO | OTC Pink: NFTFF) ("NFT Tech" or the “Company”), is providing a bi-weekly status update in accordance with National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”).
As previously announced on March 15, 2024 (the "Default Announcement"), the Company applied for amanagement cease trade order ("MCTO") from the British Columbia Securities Commission (the "BCSC")in connection with the delay in filing the Company's annual financial statements, accompanyingmanagement's discussion and analysis, related officer certifications and annual information form for theyear ended December 31, 2023 (collectively, the "Annual Filings"). The MCTO was granted by the BCSCon April 3, 2024, and the Company continues to work diligently with its auditor and expects to file theAnnual Filings as soon as possible, and in any event no later than May 31, 2024.
The MCTO prevents the Company’s Chief Executive Officer and Chief Financial Officer from trading in the Company’s securities but does not affect the ability of other shareholders, including the public, to trade in securities of the Company.
The Company confirms that since the date of the Default Announcement: (i) other than as described above, there has been no material change to the information set out in the Default 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 NP12-203; (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 confirms that it 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.
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