Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) ("Voxtur" or the
"Company"), a North American technology company creating a more
transparent and accessible real estate lending ecosystem, announced
today the appointment of MNP LLP ("MNP") as auditor of the Company,
effective immediately. MNP is one of the largest full-service
chartered professional accountancy and business advisory firms in
Canada, with more than 100 offices across Canada. The reporting
package relating to the appointment of MNP will be available on
SEDAR (www.sedar.com) under the Company’s issuer profile within the
time period prescribed by NI 51-102.
The Company also announced today that, further
to its press release of April 3, 2023, it is unable to complete and
file its audited annual financial statements (the “Statements”) for
its financial year ended December 31, 2022, the related
Management’s Discussion and Analysis, and Certifications by the
Chief Executive Officer and Chief Financial Officer (collectively,
the “Required Filings”). Under National Instrument 51-102 –
Continuous Disclosure Obligations of the Canadian Securities
Administrators, the Required Filings must be filed by May 1, 2023
(the “Deadline”). The Company experienced an unexpected delay in
filing the Required Filings by the Deadline due to the resignation
of its auditor, Marcum LLP (see April 3, 2023 press release of the
Company).
The Company has applied to the Ontario
Securities Commission (the “Principal Regulator”), as well as the
securities regulatory authorities in each of the other Provinces
and Territories of Canada other than Quebec, pursuant to National
Policy 12-203 – Management Cease Trade Orders (“NP 12-203”) for a
Management Cease Trade Order (“MCTO”) as an alternative to a
general Cease Trade Order in connection with the late filing (the
“Default”) of the Required Filings. If the MCTO is granted, it will
remain in effect until the Default is remedied. The issuance of a
MCTO generally does not affect the ability of persons who are not
directors, officers, or insiders of the Company to trade their
securities.
The Company will endeavour to complete the
Required Filings within sixty (60) calendar days following the
Deadline.
The Company confirms that it will satisfy the
provisions of the alternative information guidelines under NP
12-203 by issuing bi-weekly default status reports in the form of
news releases for so long as it remains in default of the filing
requirements described above.
The MCTO prohibits trading in securities of the
Company, whether direct or indirect, by:
a) the Company’s
Chief Executive Officer;
b) the Company’s
Chief Financial Officer; and
c) the members of the board
of directors of the Company or other persons or companies who had,
or may have had, access directly or indirectly to any material fact
or material change with respect to the Company that has not been
generally disclosed.
Should the Company fail to make its Required
Filings on or before July 1, 2023, the Principal Regulator can
impose a cease trade order that all trading in securities of the
Company cease for such period of time as the Principal Regulator
may deem appropriate.
The Company has not taken any steps towards any
insolvency proceeding and the Company confirms that there is no
material information relating to its affairs that has not been
generally disclosed.
About Voxtur
Voxtur is a transformational real estate
technology company that is redefining industry standards in a
dynamic lending environment. The Company offers targeted data
analytics to simplify tax solutions, property valuation and
settlement services throughout the lending lifecycle for investors,
lenders, government agencies and servicers. Voxtur's proprietary
data hub and workflow platforms more accurately and efficiently
value assets, originate and service loans, securitize portfolios
and evaluate tax assessments. The Company serves the property
lending and property tax sectors, both public and private, in the
United States and Canada. For more information, visit
www.voxtur.com.
Forward-Looking Information
This news release contains "forward-looking
information" within the meaning of applicable Canadian securities
legislation. Forward-looking information includes, but is not
limited to, statements with respect to the MCTO and the filing of
the Required Filings. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved". Forward-looking information is subject to known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
the Company, as the case may be, to be materially different from
those expressed or implied by such forward-looking information.
Such risks, uncertainties and other factors include, but are not
limited to the ability of the Company to engage a replacement
auditor and for such auditor to complete its internal audit
approvals; general business, economic, competitive, political and
social uncertainties. Although the Company has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance
that such information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking information. The Company does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
This forward-looking information is provided as
of the date of this news release and, accordingly, is subject to
change after such date. The Company does not assume any obligation
to update or revise this information to reflect new events or
circumstances except as required in accordance with applicable
laws.
NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT
TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY
FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Voxtur’s common shares are traded on the TSXV
under the symbol VXTR and in the US on the OTCQB under the symbol
VXTRF.
Contact:
Jordan RossChief Investment Officer Tel: (416)
708-9764jordan@voxtur.com
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