/NOT FOR DISTRIBUTION IN THE U.S. OR TO
U.S. NEWSWIRE SERVICES/
VANCOUVER, BC, May 3, 2024
/CNW/ - Tribe Property Technologies Inc. (the "Issuer" or the
"Company") (TSXV: TRBE) (OTCQB US: TRPTF), a leading provider of
technology-elevated property management solutions, today announced
that, further to its news release dated April 26, 2024, the British Columbia Securities
Commission ("BCSC") has accepted the Company's application for, and
has granted, a management cease trade order (the "MCTO").
As previously announced, the Company applied for the MCTO due to
a delay in the filing of the Company's (a) the audited financial
statements of the Company for the twelve-month period ended
December 31, 2023; (b) the
management's discussion & analysis for the twelve-month period
ended December 31, 2023; and (c) the
Chief Executive Officer and Chief Financial Officer certification
of filings under Section 5.1 of National Instrument 52-109 –
Certification of Disclosure in Issuers' Annual and Interim
Filings (collectively, the "2023 Annual Filings"), which had a
requisite filing date of April 29,
2024.
The MCTO restricts the Chief Executive Officer, Chief Financial
Officer and such other directors, and officers of the Company from
all trading in securities of the Company until such time as the
2023 Annual Filings have been filed and the MCTO has been lifted.
The MCTO does not affect the ability of other shareholders of the
Company to trade in securities of the Company.
The Company expects that it will be in a position to
file its 2023 Annual Filings on or before May 15, 2024. The default is due primarily to the
delayed receipt of an expert report with respect to goodwill. The
filing timeline will provide the Company's auditor with sufficient
time to complete the report. Management notes that there are no
disagreements or major unresolved issues with the auditor on any
matter of the audit scope or procedures, accounting principles or
policies, or financial statement disclosure.
Until the 2023 Annual Filings are filed, the Company intends to
satisfy the provisions of the alternative information guidelines
set out in National Policy 12-203 – Management Cease Trade
Orders ("NP 12-203") and issue bi-weekly default status reports
for so long as it remains in default of the requirement to file the
2023 Annual Filings.
The Company confirms that, since its prior news release dated
April 26, 2024: (a) there has been no
material change to the information set out in that press release
that has not been generally disclosed; (b) there has not been any
other specified default by the Company under NP 12-203; (c) the
Company is not subject to any insolvency proceedings; and (d) there
is no material information concerning the affairs of the Company
that has not been generally disclosed.
About Tribe Property
Technologies
Tribe is a property technology company that is disrupting the
traditional property management industry. As a rapidly growing
tech-forward property management company, Tribe's integrated
service-technology delivery model serves the needs of a much wider
variety of stakeholders than traditional service providers. Tribe
seeks to acquire highly accretive targets in the fragmented North
American property management industry and transform these
businesses through streamlining and digitization of operations.
Tribe's platform decreases customer acquisition costs, increases
retention, and allows for the addition of value-added products and
services through the platform. Visit tribetech.com for more
information.
ON BEHALF OF THE BOARD
"Joseph Nakhla"
Chief Executive Officer
Tribe Property Technologies Inc.
Joseph Nakhla
Chief Executive Officer
1606 – 1166 Alberni Street, Vancouver,
British Columbia
V6E 3Z3
Phone: (604) 343-2601
Email: joseph.nakhla@tribetech.com
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Statement on
Forward-Looking Information
This news release may contain certain "Forward-Looking
Statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and applicable Canadian
securities laws regarding the Company and its business. When or if
used in this news release, the words "anticipate", "believe",
"estimate", "expect", "target, "plan", "forecast", "may",
"schedule" and similar words or expressions identify
forward-looking statements or information. Forward-looking
statements or information in this news release may relate to
statements with respect to the MCTO and 2023 Annual Filings; and
other factors or information. Such statements represent the
Company's current views with respect to future events and are
necessarily based upon several assumptions and estimates that,
while considered reasonable by the Company, are inherently subject
to significant business, economic, competitive, political, and
social risks, contingencies, and uncertainties. Many factors, both
known and unknown, could cause results, performance, or
achievements to be materially different from the results,
performance or achievements that are or may be expressed or implied
by such forward- looking statements. The Company does not intend,
and do not assume any obligation, to update these forward-looking
statements or information to reflect changes in assumptions or
changes in circumstances or any other events affecting such
statements and information other than as required by applicable
laws, rules, and regulations.
SOURCE Tribe Property Technologies Inc.