Snipp Interactive Inc. Provides MCTO Status Update

VANCOUVER, BC / ACCESSWIRE / June 28, 2023 / Snipp Interactive (TSXV:SPN); (OTC PINK:SNIPF) (the "Corporation" or "Snipp") is providing a status update on its temporary management cease trade order (the "MCTO"). On April 20, 2023, the Corporation announced (the "Default Announcement") that, for reasons disclosed in the Default Announcement, the filing of the Corporation's audited annual financial statements for the year ended December 31, 2022, and the related management's discussion and analysis, and related certifications for this period (collectively, the "Annual Filings") would not be completed by the prescribed deadline of May 1, 2023.

Foto: Accesswire

As a result of this delay in filing the Annual Filings, the Corporation's principal regulator, British Columbia Securities Commission, granted the MCTO which prohibits all trading by the Chief Executive Officer and the Chief Financial Officer of the Corporation, and such other directors, officers and persons as determined by the applicable regulatory authorities, in securities of the Corporation until the MCTO is revoked. Although the Corporation and the auditors are working diligently on delivering the Annual Filings, the Corporation will not be able to meet the previously announced filing deadline of June 30, 2023. The Corporation's board of directors and management confirm that they are working expeditiously to meet the Corporation's obligations relating to the filing of the Annual Filings, with the goal of filing prior to July 14, 2023.

Pursuant to the provisions of the alternative information guidelines specified by National Policy 12-203 - Management Cease Trade Orders ("NP 21-203"), the Corporation reports that since the Default Announcement there have not been any changes to the information contained therein that would reasonably be expected to be material to an investor, not any failure by the Corporation to fulfil its intentions as stated therein with respect to satisfying the provisions of the alternative information guidelines, and there are no additional defaults or anticipated defaults subsequent to the disclosure therein, other than the delay in filing the Annual Filings.