TORONTO and TAMPA, Fla., May 01, 2023 (GLOBE NEWSWIRE) -- Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) ("Voxtur" or the "Company"), a North American technology company creating a more transparent and accessible real estate lending ecosystem, announced today the appointment of MNP LLP ("MNP") as auditor of the Company, effective immediately. MNP is one of the largest full-service chartered professional accountancy and business advisory firms in Canada, with more than 100 offices across Canada. The reporting package relating to the appointment of MNP will be available on SEDAR (www.sedar.com) under the Company’s issuer profile within the time period prescribed by NI 51-102.
The Company also announced today that, further to its press release of April 3, 2023, it is unable to complete and file its audited annual financial statements (the “Statements”) for its financial year ended December 31, 2022, the related Management’s Discussion and Analysis, and Certifications by the Chief Executive Officer and Chief Financial Officer (collectively, the “Required Filings”). Under National Instrument 51-102 – Continuous Disclosure Obligations of the Canadian Securities Administrators, the Required Filings must be filed by May 1, 2023 (the “Deadline”). The Company experienced an unexpected delay in filing the Required Filings by the Deadline due to the resignation of its auditor, Marcum LLP (see April 3, 2023 press release of the Company).
The Company has applied to the Ontario Securities Commission (the “Principal Regulator”), as well as the securities regulatory authorities in each of the other Provinces and Territories of Canada other than Quebec, pursuant to National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”) for a Management Cease Trade Order (“MCTO”) as an alternative to a general Cease Trade Order in connection with the late filing (the “Default”) of the Required Filings. If the MCTO is granted, it will remain in effect until the Default is remedied. The issuance of a MCTO generally does not affect the ability of persons who are not directors, officers, or insiders of the Company to trade their securities.
The Company will endeavour to complete the Required Filings within sixty (60) calendar days following the Deadline.
The Company confirms that it will 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 filing requirements described above.
The MCTO prohibits trading in securities of the Company, whether direct or indirect, by:
a) the Company’s Chief Executive Officer;
b) the Company’s Chief Financial Officer; and
c) the members of the board of directors of the Company or other persons or companies who had, or may have had, access directly or indirectly to any material fact or material change with respect to the Company that has not been generally disclosed.
Should the Company fail to make its Required Filings on or before July 1, 2023, the Principal Regulator can impose a cease trade order that all trading in securities of the Company cease for such period of time as the Principal Regulator may deem appropriate.
The Company has not taken any steps towards any insolvency proceeding and the Company confirms that there is no material information relating to its affairs that has not been generally disclosed.
About Voxtur
Voxtur is a transformational real estate technology company that is redefining industry standards in a dynamic lending environment. The Company offers targeted data analytics to simplify tax solutions, property valuation and settlement services throughout the lending lifecycle for investors, lenders, government agencies and servicers. Voxtur's proprietary data hub and workflow platforms more accurately and efficiently value assets, originate and service loans, securitize portfolios and evaluate tax assessments. The Company serves the property lending and property tax sectors, both public and private, in the United States and Canada. For more information, visit www.voxtur.com.
Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the MCTO and the filing of the Required Filings. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but are not limited to the ability of the Company to engage a replacement auditor and for such auditor to complete its internal audit approvals; general business, economic, competitive, political and social uncertainties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
This forward-looking information is provided as of the date of this news release and, accordingly, is subject to change after such date. The Company does not assume any obligation to update or revise this information to reflect new events or circumstances except as required in accordance with applicable laws.
NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Voxtur’s common shares are traded on the TSXV under the symbol VXTR and in the US on the OTCQB under the symbol VXTRF.
Contact:
Jordan Ross
Chief Investment Officer
Tel: (416) 708-9764
jordan@voxtur.com
