Snipp Interactive Inc. Provides Status Update

VANCOUVER, BC / ACCESSWIRE / August 2, 2023 / Snipp Interactive (TSX-V:SPN)(OTC PINK: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.

Foto: Accesswire

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 target date of July 31, 2023 and the BCSC has issued a full trading halt on the Corporation until the Annual Filings are filed.

We are targeting the filing of our annual financial statements by August 15. We were not able to meet the prior target filing date of July 31, 2023, due to staff availability being unexpectedly limited at the end of July. Once our audited annual financial statements have been filed, we will also have our Q1 2023 interim financial statements filed within five business days. Our Q2 2023 interim financial statements will then be filed by August 29. We will arrange for an investor conference call in September to discuss our 2022 year-end financial results along with both our Q1 2023 and Q2 2023 quarterly financial results.

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, and has not allowed our filing status to impede the Corporation's strong momentum. 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."