Triterras, Inc. Receives Notification from Nasdaq Associated to Delayed Once-a-year Report
SINGAPORE, July 06, 2021 (World NEWSWIRE) — Triterras Inc. (Nasdaq: TRIT, TRITW) (“Triterras” or the “Company”), right now declared that, on July 1, 2021, it acquired a discover (the “Notice”) from the Listing Qualifications Department of the Nasdaq Stock Market LLC (“Nasdaq”) stating that the Corporation is not in compliance with Nasdaq Listing Rule 5250(c)(1) mainly because it had not timely filed its Once-a-year Report on Variety 20-F for the fiscal year ended February 28, 2021 (the “2021 Yearly Report”) with the U.S. Securities and Exchange Commission (the “SEC”). Nasdaq Listing Rule 5250(c)(1) involves detailed providers to well timed file all demanded community financial experiences with the SEC.
The Detect provides that the Company has until finally August 2, 2021 to submit to Nasdaq a strategy to regain compliance with the Nasdaq Listing Policies. If Nasdaq accepts the Company’s strategy, then Nasdaq might grant the Corporation an exception of up to 180 calendar times from the because of date of the 2021 Once-a-year Report, or right until December 27, 2021, to regain compliance. If Nasdaq does not take the Company’s prepare, then the Organization would have the option to attractiveness that conclusion to a Nasdaq hearings panel. The Observe has no instant impression on the listing of the Company’s securities on Nasdaq.
As formerly described by the Organization in its Notification of Late Filing on Sort 12b-25, filed with the SEC on June 28, 2021, the Business was not ready to file its 2021 Yearly Report by the approved because of day owing to the character of and time constraints inherent in the process for the Corporation to lookup for and interact a new impartial registered public accounting business and to empower Nexia TS Public Accounting Company (“Nexia TS”), the Company’s new impartial registered general public accounting company, to complete the audit (the “Audit”) of the Company’s consolidated financial statements for the fiscal calendar year ended February 28, 2021. The Firm is functioning diligently to guide Nexia TS to complete the Audit as quickly as practicable. The Organization intends to submit to Nasdaq a strategy to regain compliance on or in advance of August 2, 2021 as necessary by the Detect.
In accordance to Srinivas Koneru, Chairman and CEO of the Organization, “Our group is doing the job incredibly challenging to craft a compliance strategy that is acceptable to Nasdaq even though we concurrently are supporting the activities of our independent auditor, Nexia TS, in the conduct of our money audits. We hope to resume timely reporting as soon as possible.”
About Triterras
Triterras is a major fintech business focused on trade and trade finance. It launched and operates Kratos™—one of the world’s greatest commodity investing and trade finance platforms that connects and allows commodity traders to trade and supply capital from loan companies instantly on line. For additional data, make sure you pay a visit to triterras.com or e-mail us at speak [email protected].
Ahead On the lookout Statements
This press release incorporates “forward-looking statements” within just the meaning of the “safe harbor” provisions of the Personal Securities Litigation Reform Act of 1995. Triterras’ precise outcomes might vary from their expectations, estimates and projections and as a result, you really should not depend on these ahead-wanting statements as predictions of future situations. Words and phrases these kinds of as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believe,” “hope,” “predict,” “potential,” “continue,” and related expressions are supposed to identify such forward-on the lookout statements. These ahead-searching statements incorporate Triterras’ expectations with respect to potential performance. These ahead-seeking statements require major challenges and uncertainties that could result in the precise success to differ materially from the anticipated outcomes. Most of these variables are outside the house Triterras’ control and are hard to forecast. Variables that may induce this sort of differences contain but are not constrained to threats and uncertainties related to the dangers set forth underneath “Risk Factors” in Triterras’ Kind 20-F (SEC File No.: 001-39693) submitted with the SEC on November 16, 2020 and in Triterras’ other filings with the SEC, and dangers relating to completion of the Audit and acceptance by Nasdaq of Triterras’ plan to get back compliance, this sort of as the means of the Nexia to complete the Audit, any likely changes to the Company’s fiscal statements that might be important in connection with completion of the Audit and the timing of these kinds of completion. Triterras cautions that the foregoing listing of factors is not exceptional. There can be no assurance that Nasdaq will settle for Triterras’ system to regain compliance or that Triterras will be able to regain compliance in just any extension period granted by Nasdaq. Triterras cautions audience not to put undue reliance upon any forward-searching statements, which communicate only as of the date produced. Triterras does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-searching statements to reflect any improve in its expectations or any adjust in gatherings, ailments, or circumstances on which any such assertion is based mostly.
Investor Relations Contacts:
Jim Groh, Triterras Inc.
Cell: +1 (678) 237-7101
Electronic mail: [email protected]
Gateway Investor Relations
Cody Slach and Matt Glover
Workplace: +1 (949) 574-3860
Electronic mail: [email protected]
Media Contacts:
Gregory Papajohn
Business of Corporate Communications
Triterras, Inc.
Mobile: +1 (917) 287-3626
Email: [email protected]