Snipp Interactive Inc. Provides Status Update

VANCOUVER, BC / ACCESSWIRE / July 19, 2023 / Snipp Interactive (TSX-V:SPN)(OTCPK:SNIPF) (the "Corporation" or "Snipp") is providing a status update on its audited annual financial statements and the previous 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.

As a result of this delay in filing the Annual Filings, the Corporation's principal regulator, British Columbia Securities Commission ("BCSC"), had previously 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 have been working diligently on delivering the Annual Filings, the Corporation was not able to meet the previously announced filing deadline of July 14, 2023. The BCSC has now issued a full trading halt on the Corporation until the Annual Filings are filed. 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 by July 31, 2023.

Atul Sabharwal, CEO and Founder of Snipp Interactive, commented, "We appreciate the support of our shareholders in recent months while we work diligently to complete our 2022 audit. Snipp Interactive continues to move forward with its many growth initiatives in the meantime. We look forward to sharing updated financial information, as well as additional details on new customers and the success of our platform expanding into new verticals, during our upcoming investor conference call, which will be held following the release of our financial results at the beginning of August."