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VANCOUVER, BC, April 26,
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 it expects to complete
and file its 2023 Annual Filings (as defined below) on or before
May 15, 2024.
Because the 2023 Annual Filings will be filed following the
requisite filing date of April 29,
2024, the Company has applied to the British Columbia
Securities Commission (the "BCSC") for a management cease
trade order ("MCTO") that will prohibit the Chief Executive
Officer and the Chief Financial Officer, and such other directors,
and officers of the Company from trading in the securities of the
Company until such time as the 2023 Annual Filings have been filed.
The BCSC has yet to make a decision on the aforementioned
application and there is no guarantee the BCSC will grant the
MCTO.
The anticipated default is due primarily to the delayed receipt
of an expert report with respect to goodwill. The proposed 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.
The annual filings consist of: (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").
The Company confirms that it intends to satisfy the provisions
of the alternative information guidelines described in 10 of
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 has not taken any steps towards any
insolvency proceeding and the Company has no material information
to release to the public. The Company has made the foregoing
representations in accordance with the requirements of applicable
securities laws.
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
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.
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.
SOURCE Tribe Property Technologies Inc.