Intema Provides Update to Management Cease Trade Order
MONTREAL, May 14, 2021 (GLOBE NEWSWIRE) — Intema Solutions Inc. (“Intema” or the “Corporation”) (TSXV: ITM, OTCMKTS: ITMZF) is providing an update to its previously disclosed management cease trade order (“MCTO”), announced on April 30, 2021, in respect of the audited annual financial statements and corresponding management’s discussion and analysis for the year ended December 31, 2020, including the CEO and CFO certifications (collectively, the “Annual Financial Documents”) that were not filed by the required filing deadline of April 30, 2021 (the “Filing Deadline”).
As previously disclosed, the Annual Financial Documents were not filed on or before the Filing Deadline due to the delay in the completion of the audit of the Corporation’s financial statements before the Filing Deadline. The Corporation is working on the steps required to complete the Annual Financial Documents and expects to be able to file the Annual Financial Documents by May 21, 2021. The Corporation will provide updates as further information relating to the Annual Financial Documents becomes available.
The MCTO will be in effect until the Annual Financial Documents are filed.
Until the Annual Financial Documents are filed, the Corporation intends to issue bi-weekly default status reports in accordance with National Policy 12-203 – Management Cease Trade Orders. The Corporation intends to satisfy the provisions of the Alternative Information Guidelines during the period it remains in default of the filing requirements. The Corporation confirms that there is no other material information relating to its affairs that has not been generally disclosed.
In addition, further to its news release dated April 21, 2021, Intema has issued on May 12, 2021 an aggregate of 42,641 common shares of the Corporation at a deemed price of $0.53 per share to Agora Internet Relations Corp.
in consideration for services rendered.
Intema Solutions Inc. is the world’s emerging leader in the esports and iGaming industry. Our mission is to bring the excitement of esports betting to the entire world through fully licensed, safe and secure online platforms. Our ecosystem consists of subsidiaries in esports, iGaming, product branding, digital advertising and marketing campaign design that are all complementary drivers of our future revenue growth. For more information, please visit our corporate website at intema.ca
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