Interfield Global Software Inc. Announces Delay in Filing of Annual Filings and Director Resignation

VANCOUVER, British Columbia, April 01, 2024 (GLOBE NEWSWIRE) -- Interfield Global Software Inc. (Cboe CA: IFSS) (the “Company”) announces that as a result of delays in the completion of its audit, the Company will be unable to meet the prescribed filing deadline of April 2, 2024 for filing its annual audited financial statements, chief executive officer and chief financial officer certifications of the annual filings and accompanying management discussion and analysis for the year ended December 31, 2023 (collectively, the “Annual Filings”) as required by National Instrument 51-102 - Continuous Disclosure ‎‎Obligations (“NI 51-102”). As a result, the Company will also be delayed in filing of its Annual Information Form for the year ended December 31, 2023 (the “AIF”).

The delay is a result of MNP LLP, the Company’s auditors requiring additional time to complete their audit.‎ The Company anticipates that it will be in a position to remedy the default by filing the Annual Filings no later than Monday, April 8, 2024 and will issue a news release once the Annual Filings have been filed. The Company has made all efforts and allocated all available resources to the preparation, completion and filing of the Annual Filings. The Company’s auditors have also made significant efforts to complete their audit of the annual financial statements. Upon filing its Annual Filings, the Company will also file its AIF. Until the Company files the Annual Filings, it will comply (if required) with the alternative information guidelines set out in sections 9 and 10 of National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”). The guidelines, among other things, require the Company to issue bi-weekly default status reports, in the form of news releases, for so long as the Annual Filings have not been filed.

Until the ‎Company has filed the Annual Filings, members of the Company’s management and other insiders are subject to an insider trading black-out policy as per its internal Insider Trading Policy that is consistent with the principles in Section 9 of National Policy 11-207 - Failure-to-File ‎Cease Trade Orders and Revocations in Multiple Jurisdictions. The Company confirms that, other than as disclosed in prior press releases and material change reports, there have been no material business developments since the filing on November 13, 2023 of the Company’s consolidated ‎interim financial reports for the period ended September 30, 2024‎. There are no insolvency proceedings involving the Company.