May 3, 2021 - Vancouver, BC – Tracesafe Inc., (“TraceSafe” or the "Company") (CSE: TSF)announces that its principal regulator, the Ontario Securities Commission, has accepted the Company's application for, and has granted, a management cease trade order (the "MCTO").
The MCTO does not affect the ability of shareholders of the Company to trade in the securities of the Company. The MCTO does restrict all trading in securities of the Company by the ChiefExecutive Officer and Chief Financial Officer of the Company until the Required Filings have been filed by the Company and the MCTO has been lifted.
As previously announced on April 29, 2021, the Company applied for the MCTO due to a delay in filing its annual audited financial statements for the year ended December 31, 2020, its relatedManagement's Discussion and Analysis and Chief Executive Officer and Chief Financial Officer certifications (the "Required Filings") which were due April 30, 2021. The MCTO will not be revoked until the Company is up to date with its continuous disclosure filings, which is expected to be before May 14, 2021, when the Required Filings have been filed.
During the MCTO, the Company confirms that it will comply with the provisions of the alternative information guidelines as set out in the National Policy 12-203 – Management Cease TradeOrders, including issuing bi-weekly default status reports in the form of a news release, so long as it remains in default of the filing requirements set out above. The Company confirms that there is no material information concerning the affairs of the Company that has not been generally disclosed as of the date of this news release.
TraceSafe is a full suite of real-time location management services and contact tracing solutions enabled through advanced low power bluetooth beacons and enterprise cloud management.TraceSafe’s leading cloud management solution ensures both user privacy and comprehensive administrative control. TraceSafe’s patented contact tracing bracelet has already been deployed in mission critical quarantine applications around the world in partnership with leading governments. In addition to their government work, TraceSafe is developing leading edge solutions for Enterprise, Healthcare, Education, Government and large-scale venue management.