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Namesilo Technologies Corp
Symbol URL
Shares Issued 92,646,648
Close 2024-05-01 C$ 0.26
Market Cap C$ 24,088,128
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Namesilo Technologies receives MCTO

2024-05-01 14:43 ET - News Release

Mr. Paul Andreola reports

NAMESILO ANNOUNCES APPLICATION FOR MANAGEMENT CEASE TRADE ORDER

Namesilo Technologies Corp. has made an application to the British Columbia Securities Commission, the Alberta Securities Commission and the Ontario Securities Commission to approve a temporary management case trade order (MCTO) under National Policy 12-203, Cease Trade Orders for Continuous Disclosure Defaults, which will prohibit trading securities by the company by the chief executive officer and chief financial officer of the corporation until such time as the required filings (defined herein) and all continuous disclosure requirements have been filed by the company and the MCTO has been lifted. During the period in which the MCTO is effective, the general public, who are not insiders of the company, will continue to be able to trade in the company's listed securities. The MCTO was granted on April 30, 2024.

The company made the application for the MCTO as it expected that it will be unable to file its audited financial statements for the year ended Dec. 31, 2023, and the management discussion and analysis and related chief executive officer and chief financial officer certificates for this period before the April 29, 2024, filing deadline.

The company and the auditor have noticed a delay in progress of the audit due to the additional time needed to assess certain investments made by the company during the financial year ended Dec. 31, 2023. As such, the company is concerned that the annual filings might not be filed on time.

The company anticipates that it will be in a position to remedy the default by filing the required filings on or about June 28, 2024. The MCTO will be in effect until the required filings are filed.

During this MCTO, all management, officers and directors of the company will be prohibited from trading in the company's securities pursuant to the company's blackout procedures.

The company intends to satisfy the provision of the alternative information guidelines set out in sections 9 and 10 of NP-12-203 as long as the required filings are outstanding.

About Namesilo Technologies Corp.

Namesilo Technologies invests its capital in companies and opportunities which management believes are undervalued and have potential for significant appreciation.

The company's flagship subsidiary, Namesilo LLC, is a low-cost provider of domain name registration and management services. As an accredited ICANN registrar, Namesilo is one of the fastest-growing domain registrars in the world with over 2.5 million active domains under management and over 240,000 customers from approximately 160 countries.

We seek Safe Harbor.

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