Vancouver, Canada--(Newsfile Corp. - February 28, 2025) - Turnium Technology Group Inc. (TSXV: TTGI) (FSE: E48) ("Turnium" or the "Company") provides an update with respect to the previously announced Management Cease Trade Order (the "MCTO") issued by the British Columbia Securities Commission (the "BCSC") on January 29, 2025 (the "Default Announcement"). The Company is providing this notice in accordance with National Policy 12-203 - Management Cease Trade Orders ("NP 12-203").
The MCTO prevents the Company's Chief Executive Officer ("CEO") and Chief Financial Officer ("CFO") from trading in the Company's securities, but does not affect the ability of other shareholders, including the public, to trade in the securities of the Company.
The Company confirms that the audited annual financial statements for the year ended September 30, 2024, along with the management's discussion and analysis and related CEO and CFO certificates for the period, which were required to be filed on or before January 28, 2025, have been filed on February 28, 2025.
The MCTO will remain in effect until the quarterly financial statements for the three months ended December 31, 2024, along with the management's discussion and analysis and related CEO and CFO certificates for the period (the "2025 Q1 Filings") are filed. While the 2025 Q1 Filings were originally required to be filed on or before March 3, 2025, the BCSC has granted an extension, allowing them to be filed on or before March 7, 2025.
As previously stated, subject to current conditions remaining the same, the Company remains confident in its ability to complete the 2025 Q1 Filings and will make its best efforts to complete the process within the timeline indicated.
The MCTO remains in effect until the Company files the 2025 Q1 Filings and the BCSC's Executive Director has revoked the MCTO. The Company confirms that since the date of the Default Announcement, other than as described above: (a) there has been no material change to the information set out in the Default Announcement that has not been generally disclosed; (b) 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; (c) there has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the Default Announcement; and (d) there is no other material information concerning the affairs of the Company that has not been generally disclosed.
The Company confirms that it will continue to 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 delayed.
About Turnium Technology Group Inc.: "Let's get IT done."
Turnium Technology Group Inc. (TTGI) acquires companies that complement its Technology-as-a-Service (TaaS) strategy, integrates them to generate efficiencies, and delivers their solutions through a global channel partner program to customers worldwide. TTGI's mission is to provide IT providers with a complete, white-labelled portfolio of business technology solutions, enabling them to quickly add new services in response to customer demand.
In essence, Turnium is building a TaaS platform that incorporates all the services, platforms, and capabilities that ISPs, MSPs, IT Providers, VoIP/UCaaS, CCaaS, or Cloud Providers might need. Additionally, Turnium provides deployment resources, hardware, delivery, support, and marketing and sales enablement to help channel partners go to market quickly and deliver exceptional quality.
Turnium delivers secure, cost-effective, uninterrupted, and scalable global IT solutions to its channel partners and their end-customers-ensuring that "We get IT done, right."
Neither the TSX Venture Exchange 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.
Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws, including, without limitation, statements with respect to: statements regarding the timing, review, completion and filing of the 2025 Q1 Filings by March 7, 2025, and the Company's ability to comply with the provisions of the alternative information guidelines described in NP 12-203.
Such statements involve known and unknown risks, uncertainties, and other factors and assumptions which may cause the actual results, performance, or achievements of the Company, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements or information including, without limitation, the risk of the Company not being able to file the 2025 Q1 Filings on time and the other factors disclosed under "Risk Factors" in the Company's Management's Discussion and Analysis for the year ended September 30, 2024, and those risks described in other documents incorporated or deemed to be incorporated by reference therein. Such statements can be identified by the use of words such as "expect", "anticipate", and other similar terminology, or state that certain actions, events, or results "may", "could", "might", or "will" be taken, occur, or be achieved.
These statements reflect the Company's current expectations regarding future events, performance, and results and speak only as of the date of this news release. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except as required by securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if the Company's expectations regarding future events, performance, or results change.
