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VANCOUVER, British Columbia – TheNewswire – November 26, 2024 — Integrated Cyber Solutions Inc. (CSE: ICS) (“Integrated Cyber” or the “Company”) provides this bi-weekly default status report in accordance with the alternative information guidelines set out in National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”).
The Company previously announced on October 11, 2024 that it had applied for a management cease trade order (“MCTO”) with the applicable securities regulatory authorities in Canada on the basis that the Company’s audited annual financial statements, accompanying management’s discussion and analysis and related certifications for the fiscal year ended June 30, 2024 (the “Annual Filings”) would not be filed by the applicable filing deadline of October 28, 2024 (the “Default Announcement”). The Company announced that the MCTO was issued on October 29, 2024. The MCTO restricts the Chief Executive Officer and Chief Financial Officer from all trading in securities of the Company until such time as the Annual Filings have been filed by the Company and the MCTO has been lifted. The MCTO does not affect the ability of other shareholders of the Company to trade in securities of the Company.
Preparation of the Annual Filings has also impacted the timely completion of the Company’s interim financial statements, accompanying management’s discussion and analysis and related certifications for the three months ended September 30, 2024 (the “Interim Filings”). The completion of the Interim Filings is dependent on the results contained in the Annual Filings, and, accordingly, the Company will not be able to file the Interim Filings by the reporting deadline of November 29, 2024.
The Company and its auditors continue to work diligently toward completing the Annual Filings and Interim Filings as soon as possible, and continues to expect that it will be in a position to file the Annual Filings and Interim Filings on or before December 27, 2024.
The Company confirms that since the date of the Default Announcement: (i) other than as described above, there has been no material change to the information set out in the Default Announcement 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) there is no other material information concerning the affairs of the Company that has not been generally disclosed.
The Company confirms it will continue to satisfy the provisions of the alternative information guidelines set out in NP 12-203 so long as it remains in default of the requirement to file the Annual Filings and Interim Filings.
On Behalf of the Board of Directors:
Alan Guibord, Director & Chief Executive Officer
Integrated Cyber Solutions Inc.
For further information, please contact:
Integrated Cyber Solutions Inc.
1 Stiles Rd.
Salem, New Hampshire, 03079
United States of America
Telephone: +1(212) 634-9534
Email: [email protected]
Web: https://www.integrated-cyber.com
ABOUT Integrated Cyber
Integrated Cyber is a managed security service provider (MSSP) that humanizes cybersecurity managed services to the Small-to-Medium Business (SMB) and Small-to-Medium Enterprise (SME) sectors. The Company integrates capabilities from third-party cybersecurity providers, allowing companies to continuously adapt their services to evolving technologies and providers – ensuring customers have access to the latest cybersecurity solutions. Apart from providing essential cybersecurity services, Integrated Cyber’s managed services and IC360 technology platform consolidate vast amounts of information to generate actionable intelligence from the numerous software point solutions within their customer’s environments. The results enable simple, understandable, and actionable insights to help customers comprehend and better secure their organization. Integrated Cyber greatly emphasizes the human aspect of cybersecurity management, simplifying complex concepts, and highlighting the crucial role that employee behavior plays in a company’s cyber defenses.
FORWARD-LOOKING INFORMATION
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words “believes,” “may,” “plans,” “will,” “anticipates,” “intends,” “could”, “estimates”, “expects”, “forecasts”, “projects” and similar expressions, and the negative of such expressions. Forward-looking information in this news release may include statements about the expected filing of the Annual Filings and Interim Filings, the Company’s continued ability to satisfy the information guidelines set out in NP 12-203 as well as the duration of the MCTO.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made including, without limitations, information based on the current state of the Annual Filings, Interim Filings and discussions with the auditors of the Company. Although Integrated Cyber has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information, and there is no guarantee the Annual Filings and/or Interim Filings will be made on the timeline currently expected, that the Company will continue to be able to satisfy the requirements of NP 12-203 or that the MCTO will not be revoked and replaced with a cease trade order. If the securities regulators deem that the Company has not complied with the MCTO, the Annual Filings and/or Interim Filings are not filed on time or subject to additional delays, or the Company is not able to continue to satisfy the requirements of NP 12-203, the securities of the Company could be subject to a cease trade order or other actions taken by the securities regulators and/or exchanges. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information herein is qualified in its entirety by this cautionary statement, and Integrated Cyber disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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