Namaste Technologies Provides Third Bi-Weekly Default Status Report regarding Management Cease Trade Order

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Namaste Technologies Inc. (“Namaste” or the “Company“) (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) is providing this third bi-weekly default status report in accordance with National Policy 12-203 – Cease Trade Orders for Continuous Disclosure Defaults (“NP 12-203“). In its initial default announcement of April 2, 2019 (the “Default Notice“), the Company announced the delay in the filing of its audited annual financial statements for the fiscal year ended November 30, 2018 (the “2018 Annual Financial Statements“), the accompanying management’s discussion and analysis and the related CEO and CFO certifications (collectively, the “Annual Filings“) by the filing deadline of April 1, 2019.  The Company subsequently provided bi-weekly default status reports on April 15, 2019 and April 30, 2019.

As previously announced, the Company applied for and was granted management cease trade orders in respect of the delayed Annual Filings (the “MCTO“) by the British Columbia Securities Commission and the Ontario Securities Commission which prohibit the chief financial officer and the interim chief executive officer from trading in the Company’s securities for so long as there are filings that are outstanding under applicable securities laws.  The MCTO does not affect the ability of the general investing public to trade in the Company’s listed common shares.

The audit of the 2018 Annual Financial Statements is well underway and the Company currently continues to expect to file the Annual Filings by the end of May 2019. In addition, the Company continues to anticipate that its interim financial statements for the three month period ended February 28, 2019, the accompanying management’s discussion and analysis and the related CEO and CFO certifications will not be filed by the filing deadline, and will be filed after the Annual Filings are completed and filed.

The Company confirms that since the Default Notice: (i) there is no material change to the information set out in the Default Notice that has not been generally disclosed; (ii) there has been no failure by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203; (iii) there has not been any other specified default by the Company under NP 12-203; and (iv) since the Company’s bi-weekly default status report dated April 30, 2019, there is no other material information concerning the affairs of the Company that has not been generally disclosed.

The Company will continue to comply with 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 set out above.

 

SOURCE Namaste Technologies Inc.