Star Metro - Xcyte Digital Corp. Announces Update on Year End and Q1 Deadline

As previously announced on March 18, 2025, March 11, 2025, February 19, 2025 and February 5, 2025, the Company had been granted the MCTO due to an anticipated delay in filing its audited annual financial statements and related management's discussion and analysis, and certifications for the financial year ended September 30, 2024 (the "Annual Filings"), which were due to be filed on January 28, 2025. The delay in filing the Annual Filings is because: (i) this is the first audit the Company has been required to complete since completion of its Qualifying Transaction in November 2023; (ii) MNP was appointed as the auditor of the Company concurrently with the completion of the Qualifying Transaction and, as such, this is the first audit of the Company conducted by MNP; (iii) the Company completed additional acquisitions during its fiscal year ended September 30, 2024, adding complexity to the audit; and (iv) Michael Ertle has only recently been appointed as the Chief Financial Officer of the Company.

The Company is working diligently and expeditiously with MNP in order to complete the Annual Filings as soon as practicable, and currently anticipates that it will be a position to remedy any filing default and return to compliance by completing the Annual Filings and First Quarteron or before April 30, 2025.

The MCTO restricts the Company's CEO, CFO, board and management from all trading in securities of the Company until two full business days following the receipt by the Commission of the Annual Filings, or further order of the OSC. The MCTO does not affect the ability of other shareholders of the Company to trade in securities of the Company. Until the Company files the Annual Filings, it will comply with the alternative information guidelines set out in National Policy 12-203 - Management Cease Trade Orders.

About Xcyte Digital Corp.

Xcyte Digital Corp. (TSXV:XCYT). is a trusted global events technology partner, specializing in next generation event technology for physical, hybrid, virtual, immersive and phone-based events. Combining proprietary technology with a robust partner ecosystem, Xcyte offers both do-it-yourself and managed services, ensuring secure and scalable solutions worldwide. Thousands of clients, from innovative startups to major corporations, rely on Xcyte's cost-effective, multi-platform subscription model to meet their event needs. Xcyte Digital is headquartered in Canada and the USA, with operations across the globe. Visit us at xcytedigital.com.

For more information contact:

Xcyte Digital Corp.
Randy Selman, Chief Executive Officer and Director
Phone: (647) 777 7501
Email: [email protected]

Investor Relations
Nikhil Thadani, Sophic Capital
Email: [email protected]
Phone: (647) 777 7501

Neither 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 Note Regarding Forward-Looking Statements

Certain information contained in this release constitute forward-looking statements or information under Canadian securities legislation. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "will", "expects", "anticipates" or variations of such words and phrases or statements that certain actions, events or results "will" occur. In particular, ‎forward-looking ‎statements in this release include statements regarding the anticipated timing for the filing of the Annual Filings. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including that the Annual Filings may not be completed in the time anticipated. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company cautions readers of this news release not to place undue reliance on the forward-looking statements contained in this release as many factors could cause actual results or conditions to differ materially from current expectations. Additional information on these and other risk factors that could affect the Company's operations are outlined in the Company's continuous disclosure documents that can be found on SEDAR+ (www.sedarplus.ca) under Xcyte's issuer profile. Xcyte does not intend and disclaims any obligation, except as required by law, to update or revise any forward-looking statements, whether because of new information, future events, or otherwise.

SOURCE: Xcyte Digital

View the original press release on ACCESS Newswire

K.Evans--SMC