NEW YORK, September 28, 2021– (COMMERCIAL THREAD) –GetSwift Technologies Limited (NEO: GSW) (“GetSwift” or the “Company”), a leading provider of last mile SaaS logistics technology, announces that due to the additional time required by the Company’s auditor (the “Listener“) to complete its audit procedures, the Company anticipates that it will not be able to file its annual audited financial statements for the year ended June 30, 2021 and the related MD&A (collectively, the”Annual financial statements 2021“), the Company’s annual information form for the fiscal year ended June 30, 2021 (the”FIA“), and the certificates from the CEO and CFO to be issued under the 2021 Annual Accounts and the AIF (the”Certifications“) before the deadline of September 28, 2021.
The Company is not aware of any pending audit issues causing the delay and the auditor has received all information required by the auditor to carry out its audit procedures in accordance with applicable laws. The Company will work with the auditor and dedicate appropriate resources to promptly finalize the 2021 Annual Financial Statements, Annual Information Form and Certifications and expects to file the 2021 Annual Financial Statements, Annual Information Form and Certifications no later than October 1, 2021. .
The Company intends to make an application to the British Columbia Securities Commission (the “BCSC“), as the principal regulator of the Company, for the imposition of a cease trade order until the 2021 annual financial statements, annual information form and certificates have been filed The BCSC may grant the cease trade order or may impose a cease trade order on the issuer if the 2021 annual financial statements, annual information form and certificates are not filed by no later than September 28, 2021. The Company expects that the management cease trade order, if approved, will generally not affect the ability of persons who are not or have not been members of management. the Company to trade its securities.
The Company confirms that it intends to adhere to the guidelines for alternative information set out in Part 10 of National Policy 12-203 – Management termination orders as long as it remains in default of complying with the continuous disclosure obligations referred to here.
Update on proposed Australian class action settlement
The terms of settlement previously disclosed by the Company in its press release dated September 27, 2021 are pursuant to an enforceable settlement deed dated August 9, 2021 (the “Act“), which was concluded without admission of liability in August 192021, in accordance with previously disclosed memoranda of understanding between the company and its wholly owned subsidiary GetSwift Limited and Joel Macdonald, an officer and director of the company, and the law firm Phi Finney McDonald, Therium Capital Management (Australia) Pty Ltd , and Mr. Raffaele Webb (collectively, the “Applicant“) in connection with a previously disclosed class action in the Federal Court of Australia (the”To research“). The act is conditional on the approval of the final settlement by the court in accordance with the Federal Court of Australia Act 1976 (Cth) (the “Act“).
On August 19, 2021, the Court ordered the quashing of the class action lawsuit and all relevant orders scheduling the trial proceedings. Parties to the Deed will go through the settlement approval process in accordance with the Act to seek approval of the Deed.
The Company confirms that, except as stated in this press release, there is no other material information relating to the affairs of the Company which has not been generally disclosed.
Certain statements contained in this press release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this press release and other matters identified in public documents relating to the Company, the future prospects of the Company and anticipated events or results and may include statements regarding future financial performance. of the society. . In some cases, forward-looking information may be identified by words such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “have the expectation”. intention “,” estimate “,” foresee “,” potential “,” continue “or other similar expressions concerning matters which are not historical facts. Forward-looking statements contained in this press release include statements relating to when the auditor is expected to complete its audit procedures, the expected filing date of the 2021 financial statements, annual information form and certificates, the intention to the Company to seek, and that the BCSC will grant, a cease trade order instead of a blanket cease trade order and the anticipated consequences thereof, the Company’s compliance with the guidelines on alternative information set out in NP 12-203 – Management termination orders, and the intention of the parties to the Webb proceeding and to the deed that is the subject of the approval process under the Act to seek approval of the deed. Forward-looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include, without limitation, the availability of the auditor and officers of the Company to supplement and / or dedicate resources. necessary for the finalization of the 2021 financial statements, of the AIF, or the Certificates, the availability of the members of the board of directors of the Company and of the members of the audit committee of the Company required to approve the 2021 Financial Statements and the AIF, and the availability of parties to the Webb Proceedings and of the Court to attend and / or conduct any hearing required as part of the settlement approval process. The Company assumes no obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them, or to assess the impact of each of these factors or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. All forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement.
About GetSwift Technologies Limited
Technology to optimize global delivery logistics
GetSwift is a technology and services company providing a suite of software products and services focused on business and logistics automation, data management and analysis, communications, information security and optimization infrastructure. augmentation, business intelligence, route optimization, cash management, task management, shift management, asset tracking, real-time alerts, cloud communications and communications infrastructure (collectively, the “GetSwift offerThe GetSwift offering is used by public and private sector clients in all sectors and jurisdictions for their respective logistics, communications, information security and infrastructure projects and operations.
GSW is headquartered in New York and its common shares are listed on the NEO Stock Exchange under the symbol “GSW”.
For more information, please visit www.getswift.co.
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