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Softlab9 to Restate Quarterly Financial Statements





JANUARY 19, 2020 - TheNewswire - Vancouver, BC -  Softlab9 Technologies Inc. (CSE:SOFT) (CNSX:SOFT.CN) (Frankfurt:APO2) (OTC:SOFSF) (“SOFT” or the “Company”), announces it will refile its interim financial statements for the three and nine month periods ended September 30, 2020, as they are being amended and restated to reflect certain adjustments resulting from an interim review completed by the Company's auditors. The restatement includes adjustments, reclassifications, and corrections to prepaid expenses and deposits, loan receivable balance, share issuance costs, value of share-based compensation, consulting fees, legal fees accrual, and reversal of short-term payable write-offs.

The Company will also refile its amended and restated management’s discussion and analysis (“MD&A”) for the period ended September 30, 2020.

Please refer to the amended and restated financial statements and MD&A that will be refiled on Sedar and available for review.  

About SoftLab9

Softlab9 Technologies Inc. is an international publicly traded company that specializes in the development of early staged companies.  We provide access to capital, executive management and industry experience to grow our portfolio of companies.

Softlab9s experienced team bring new ideas and innovation based on science to find solutions to the current world we live in. Customers rely on quality, nontoxic products to keep their homes clean and their loved ones safe.

 

For further information please contact:

Rahim Mohamed                                        

Chief Executive Officer                               

Phone: (403) 605-9429                               

RM@softlab9.com                                  

https://www.soft-lab9.com/       

Paul Searle

Corporate Communications

Citygate Capital Corp

Phone: (778) 240-7724

psearle@citygatecap.com

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Forward-looking Information

This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements in this presentation that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations, and orientations regarding the future, including without limitation statements related to the use of the proceeds of the Private Placement and the Company’s prospect of success in executing its proposed plans, including its plans to complete the acquisition of CleanGo GreenGo. Forward-looking statements can often be identified by words such as “will”, “plans”, “expects”, “may”, “intends”, “anticipates”, “believes”, proposes” or variations of such words including negative variations thereof and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements are based on certain assumptions by management regarding the Company, including, without limitation, the Company’s ability to acquire CleanGo GreenGo and obtain required regulatory approvals and the timing thereof. Actual results could differ from those projected in any forward-looking statements due to numerous factors including, risks and uncertainties relating to the inability of the Company, to, among other things, obtain any required governmental, regulatory or stock exchange approvals, permits, consents or authorizations required to execute its proposed business plans, and obtain the financing required to carry out its planned future activities. Other factors such as general economic, market or business conditions or changes in laws, regulations and policies affecting the Company’s operations may also adversely affect the future results or performance of the Company. The Company can provide no guarantee that it will be successful in completing the Private Placement or completing the acquisition of CleanGo GreenGo. Investors are cautioned that forward looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company does not intend to update or revise any forward-looking statements, except as expressly required by law.

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