ZeU Announces Delay in Filing Annual Financial Statements
Montréal – TheNewswire - May 3, 2021 – ZeU Technologies, Inc. (CSE:ZEU) (CNSX:ZEU.CN) (OTC:ZEUCF) announces that its consolidated audited annual financial statements for the year ended December 31, 2020, including the related management’s discussion and analysis and the related CEO and CFO certifications (collectively, the “Annual Financial Filings”) have not been filed by the required filing deadline of April 30, 2021 (the “Filing Deadline”).
The Annual Financial Filings were not filed on or before the Filing Deadline due to the delay in the completion of the audit of the Company’s financial statements before the Filing Deadline. The Company is working on the steps required to complete the Annual Financial Filings and expects to be able to file the Annual Financial Filings by May 21, 2021. The Company will provide updates as further information relating to the Annual Financial Filings becomes available.
The Company has applied to the applicable securities regulatory authorities and received a management cease trade order (“MCTO”) imposed against the Chief Executive Officer, Mr. Francois (Frank) Dumas and Chief Financial Officer, Mr. Mark Anthony Billings, of the Company precluding them from trading securities of the Company. The MCTO will be in effect until the Annual Financial Filings are filed and requires that the Annual Financial Filings be filed on or before May 21, 2021.
No other shareholders other than the two officers mentioned will be affected by the MCTO order.
Until the Annual Financial Filings are filed, the Company intends to issue bi-weekly default status reports in accordance with National Policy 12-203 – Management Cease Trade Orders. The Company intends to satisfy the provisions of the Alternative Information Guidelines during the period it remains in default of the filing requirements. The Company confirms that there is no other material information relating to its affairs that has not been generally disclosed.
ON BEHALF OF THE BOARD OF DIRECTORS
“ Frank Dumas”
President & CEO
ZeU is a forward-thinking Canadian technology company that has developed a state-of-the-art blockchain protocol, providing the foundation for the next-generation of encrypted and distributed networks. Thanks to its high level of sophistication, ZeU’s technology maximizes transparency, security and scalability as well as big data management. ZeU’s strategy is to monetize blockchain transactions in diverse sectors such as payment, gaming, data, and healthcare.
Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.