PeakBirch Commerce Inc. (formerly PeakBirch Logic Inc) ('PeakBirch' or the 'Company') (CSE: PKB) (OTCQB: BKBFF) is providing an update to its previously announced management cease trade order (the 'MCTO') granted by the British Columbia Securities Commission (the 'BCSC') under National Policy 12-203 - Management Cease Trade Orders ('NP 12-203').
Pursuant to the MCTO, the Company's CEO, Mohsen Raimi, and the Company's CFO, Usama Chaudhry, may not trade in securities of the Company until such time as the Company files its annual audited financial statements, annual management's discussion and analysis and related certifications for the year ended October 31, 2022 (collectively, the 'Required Documents'), and the BCSC revokes the MCTO. The MCTO does not affect the ability of other shareholders to trade their securities. The Company has not yet filed the Required Documents, however PeakBirch is working diligently with its auditors and expects that the Required Documents will be filed as soon as possible.
The delay in filing the required documents is in connection with audit delays related to confirming certain information required as part of the audit of the Issuer Statements, in particular resulting from the recent acquisition of Greenlite Crowdfunding Corp. as well as changes in management that occurred during the financial year. PeakBirch also confirms that it intends to satisfy the provisions of NP 12-203 and issue bi-weekly default status reports for so long as they remain in default of the financial statement filing requirement, containing any material changes to the information in this release, all actions taken by PeakBirch to remedy the default, particulars of any failure by the Company to fulfill these provisions, any subsequent defaults of PeakBirch requiring a default announcement and any other material information concerning the affairs of the Company not previously disclosed.
About Peakbirch Commerce Inc.
PeakBirch is a data and sales driven technology organization with the goal of constructing a global microwarehousing network for small businesses. This will enable shop owners to provide same-day delivery services to their customers and manage a pool of inventory within PeakBirch's proprietary A.I. platform and stock registry. We believe in empowering small businesses and fostering a strong community of entrepreneurs to compete within a shifting marketplace. Our innovative technologies will facilitate competition and engage a customer base eager to pivot to American-made products and services.
Contact:
Email: investors@peakbirch.com
Cautionary Note Regarding Forward Looking Information and Statements
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the cost of goods to be sold under the Company's drop-shipping model, changes in government regulations or enforcement, the ability for the Company to expand its U.S. operations or expand to international markets, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward- looking statements except as required under the applicable laws. This press release contains forward- looking statements. The use of any of the words 'anticipate', 'continue', 'estimate', 'expect', 'may', 'will', 'project', 'should', 'believe' and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks various risk factors discussed in the Company's listing statement under the Company's profile on www.sedar.com.
PEAKBIRCH COMMERCE INC. 
