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Vsblty Groupe applies for MCTO

2024-05-01 17:40 ET - News Release

Subject: VSBLTY GROUPE TECHNOLOGIES CORP. PDF Document

File: Attachment #9_050124_Delay In Filing.pdf

VSBLTY ANNOUNCES DELAY IN FILING ANNUAL FINANCIAL STATEMENTS

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

PHILADELPHIA, PA., May 1, 2024 --VSBLTY Groupe Technologies Corp. (the "Company" or "VSBLTY") (OTCQB: VSBGF) (CSE: VSBY) (Frankfurt 5VS), a leading software provider of security and retail analytics technology, announces that its annual financial statements for the year ended December 31, 2023, including the related management discussion and analysis, and CEO and CFO certifications (collectively, the "Annual Financial Filings") were not filed by the required filing deadline of April 29, 2024 (the "Filing Deadline").

The Company's auditors require additional time to complete their audit due to certain complex transactions that the Company entered into during the 2023 financial year, and as a result, the Annual Financial Filings were not filed on or before the Filing Deadline.

The Company is working on the steps required to complete the Annual Financial Filings and expects to be able to file the Annual Financial Filings by May 30, 2024. The Company will provide updates as further information relating to the Annual Financial Filings becomes available.

The Company has applied to the applicable securities regulatory authorities and received a management cease trade order ("MCTO") imposed against the Chief Executive Officer and Chief Financial Officer of the Company precluding them from trading securities of the Company. The MCTO will be in effect until the Annual Financial Filings are filed and requires that the Annual Financial Filings be filed on or before June 28, 2024.

Until the Annual Financial Filings are filed, the Company intends to issue bi-weekly default status reports in accordance with National Policy 12-203 - Management Cease Trade Orders. The Company intends to satisfy the provisions of the Alternative Information Guidelines during the period it remains in default of the filing requirements. The Company confirms that there is no other material information relating to its affairs that has not been generally disclosed.

On Behalf of the Board of VSBLTY Groupe Technologies Corp.

"Jay Hutton" CEO & Director

Investor Relations

Harbor Access Jonathan Paterson, 475-477-9401 Jonathan.Paterson@Harbor-Access.com

Graham Farrell, +1-416-842-9003 Graham.Farrell@Harbor-Access.com

CONTACT: Linda Rosanio, 609-472-0877 lrosanio@vsblty.net

About VSBLTY (http://vsblty.net/)

Headquartered in Philadelphia, VSBLTY (OTCQB: VSBGF) (CSE: VSBY) (Frankfurt: 5VS) (OTC: VSBGF) ("VSBLTY") is the world leader in Proactive Digital DisplayTM, which transforms retail and public spaces as well as place-based media networks with SaaS-based audience measurement and security software that uses artificial intelligence and machine learning. Its proprietary technology effectively integrates with other digital retail solutions, including QR codes and mobile applications. The firm is also recognized for its leadership role in the growing Store as a Medium movement that enables brands to reach customers when and where buying decisions are being made while producing a new revenue stream for retailers.

FORWARD LOOKING INFORMATION STATEMENT

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur including the Company's anticipated pipeline and value of current and customer deployments and future opportunities are the management's best estimates and cannot be guaranteed or relied upon and is forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements in this news release, whether as a result of new information, future events or otherwise, except as required by law.

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