Toronto, Ontario–(Newsfile Corp. – September 26, 2023) – Eddy Smart Home Solutions Ltd. (TSXV: EDY) (“Eddy” or the “Company”) is pleased to announce that on September 18, 2023, the Ontario Securities Commission revoked the failure-to-file cease trade order issued by it on July 7, 2023 for the Company’s failure to file its: (i) audited annual financial statements for the year ended December 31, 2022 and management’s discussion and analysis and CEO and CFO certifications relating thereto (the “Annual Documents”); and (ii) interim financial statements for the period ended March 31, 2023 and management’s discussion and analysis and CEO and CFO certifications relating thereto (the “Interim Documents”). The Annual Documents have been filed by the Company on SEDAR on July 11, 2023 and the Interim Documents have been filed on SEDAR on September 15, 2023.
Further, as a result of the Company not meeting certain of the continued listing requirements for a Tier 1 Issuer in accordance with TSX Venture Exchange (“TSXV”) Policy 2.5, the TSXV has placed the Company on notice to transfer from Tier 1 to Tier 2 with a deadline of 90 days to satisfy the TSXV that the Company continues to satisfy the Tier 1 continued listing requirements (the “Notice”).
The Company expects that trading of its common shares will be reinstated on the TSX Venture Exchange on September 28, 2023. From the reinstatement of trading in the Company’s common shares until the expiry of the Notice period, the Company will continue to have the status of a Tier 1 Issuer.
Eddy is a North American provider and developer of residential and commercial smart water metering products and monitoring services, helping property owners protect, control, and conserve water usage by combining water sensing devices with behavioural learning software. For more detail on the Company’s products or corporate information please visit www.eddysolutions.com.
For further information on the financial results of the Company, please review the Company’s unaudited condensed consolidated interim financial statements and management’s discussion and analysis of the financial condition and results of operations for the three and six months ended June 30, 2023, available on Eddy’s SEDAR website at www.sedar.com. In addition, supplemental information is available on Eddy’s website at www.eddysolutions.com/investors.
FORWARD-LOOKING INFORMATION AND STATEMENTS
This news release contains forward-looking statements within the meaning of applicable securities laws including, among others, statements concerning our objectives, our strategies to achieve those objectives, our performance, as well as statements with respect to management’s beliefs, estimates, and intentions, and similar statements concerning anticipated future events, results, circumstances, performance, or expectations that are not historical facts. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “expect”, “intent”, “estimate”, “anticipate”, “believe”, “should”, “plans”, or “continue”, or similar expressions suggesting future outcomes or events. Such forward-looking statements reflect management’s current beliefs and are based on information currently available to management. Forward looking information in this news release include statements relating to the resumption of trading in the Company’s common shares and status as a Tier 1 and Tier 2 Issuer. These statements are not guarantees of future performance and are based on our estimates and assumptions that are subject to risks and uncertainties, including those described under the heading “Risk Factors” in the Company’s filing statement dated January 6, 2022 (a copy of which can be obtained at www.sedar.com), which could cause our actual results and performance to differ materially from the forward-looking statements contained in this news release.
All forward-looking statements in this news release are qualified by these cautionary statements. Except as required by applicable law, the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Mark Silver, Executive Chairman and Chief Executive Officer
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