Vancouver, Canada--(Newsfile Corp. - February 25, 2025) - Turnium Technology Group Inc. (TSXV: TTGI) (FSE: E48) ("Turnium" or the "Company") is providing this bi-weekly default status report in accordance with National Policy 12-203 – Management Cease Trade Orders ("NP 12-203") with respect to the previously announced Management Cease Trade Order (the "MCTO") issued by the British Columbia Securities Commission, as principal regulator, on January 29, 2025.
On January 29, 2025, the Company announced that it was unable to file its annual audited financial statements for the year ended September 30, 2024, the related management's discussion and analysis, and the related Chief Executive Officer (the "CEO") and Chief Financial Officer (the "CFO") certificates (collectively, the "Annual Filings") by the deadline of January 28, 2025 (the "Original Announcement"). Turnium confirms that it is actively working with its audit team to complete the Annual Filings, which will be filed as soon as possible.
As previously stated, subject to current conditions remaining the same, the Company remains confident in its ability to complete the Annual Filings before the March 31, 2025 deadline.
The Company confirms that since the date of the Original Announcement: (a) there have been no material changes to the information contained in the Original Announcement that would reasonably be expected to be material to an investor; (b) there have been no failures by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines as set out in NP 12-203; (c) there has not been, nor is there anticipated to be, any other specified default subsequent to the default which is the subject of the Original Announcement; and (d) there is no other material information concerning the affairs of the Company that has not been generally disclosed.
Until the Company files the Annual Filings, it will comply with the alternative information guidelines set out under sections 9 and 10 of NP 12-203. The guidelines, among other things, require the Company to issue bi-weekly default status reports, in the form of news releases, for so long as the Annual Filings have not been filed.
While the MCTO is in effect, the general investing public will continue to be able to trade freely in the Company's listed common shares. However, the MCTO will prohibit the Company's CEO and CFO from trading securities of the Company for so long as the Annual Filings are not filed.
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 Annual Filings by March 31, 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 Annual 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, 2023, 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.
