Triterras Files Plan with Nasdaq Related to Delayed Annual Report
02 August 2021 - 10:00PM
Triterras Inc. (Nasdaq: TRIT,
TRITW) (“Triterras” or the “Company”)
, a
leading fintech company focused on trade and trade finance, today
announced that on July 31, 2021 it submitted to the Nasdaq Stock
Market LLC (“Nasdaq”) a plan to regain compliance with the Nasdaq
Listing Rules.
As previously disclosed, Triterras received a
notice (the “Notice”) from the Listing Qualifications Department of
Nasdaq on July 1, 2021 stating that the Company is not in
compliance with Nasdaq Listing Rule 5250(c)(1) because it had not
timely filed its Annual Report on Form 20-F for the fiscal year
ended February 28, 2021 (the “2021 Annual Report”) with the U.S.
Securities and Exchange Commission. Nasdaq Listing Rule 5250(c)(1)
requires listed companies to timely file all required public
financial reports with the SEC.
As previously reported by the Company in its
Notification of Late Filing on Form 12b-25, filed with the SEC on
June 28, 2021, the Company was not able to file its 2021 Annual
Report by the prescribed due date due to the nature of and time
constraints inherent in the process for the Company to search for
and engage a new independent registered public accounting firm and
to enable Nexia TS Public Accounting Corporation, the Company’s new
independent registered public accounting firm, to complete the
audit of the Company’s consolidated financial statements.
If Nasdaq accepts the Company’s plan, then
Nasdaq may grant the Company an exception of up to 180 calendar
days from the due date of the 2021 Annual Report, or until December
27, 2021, to regain compliance. If Nasdaq does not accept the
Company’s plan, then the Company would have the opportunity to
appeal that decision to a Nasdaq hearings panel. The Notice has no
immediate impact on the listing of the Company’s securities on
Nasdaq.
Triterras is working with its auditors and is
expected to complete its audit by the end of September 2021 and to
file its Form 20-F Annual Report soon after that.
About TriterrasTriterras is a
leading fintech company focused on trade and trade finance. It
launched and operates Kratos™—one of the world’s largest commodity
trading and trade finance platforms that connects and enables
commodity traders to trade and source capital from lenders directly
online. For more information, please visit triterras.com or email
us at contact@triterras.com.
Forward Looking StatementsThis
press release includes “forward-looking statements” within the
meaning of the “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995. Triterras’ actual results may differ
from their expectations, estimates and projections and
consequently, you should not rely on these forward-looking
statements as predictions of future events. Words such as “expect,”
“estimate,” “project,” “budget,” “forecast,” “anticipate,”
“intend,” “plan,” “may,” “will,” “could,” “should,” “believe,”
“hope,” “predict,” “potential,” “continue,” and similar expressions
are intended to identify such forward-looking statements. These
forward-looking statements include Triterras’ expectations with
respect to future performance , completion of the audited financial
statements by its auditors and timing of filing with the SEC of the
Form 20-F Annual Report. These forward-looking statements involve
significant risks and uncertainties that could cause the actual
results to differ materially from the expected results. Most of
these factors are outside Triterras’ control and are difficult to
predict. Factors that may cause such differences include but are
not limited to risks related to the completion of the audit and
preparation of the Form 20-F Annual Report as well as the risks set
forth under “Risk Factors” in Triterras’ Form 20-F (SEC File No.:
001-39693) filed with the SEC on November 16, 2020, and in
Triterras’ other filings with the SEC. Triterras cautions that the
foregoing list of factors is not exclusive. Triterras cautions
readers not to place undue reliance upon any forward-looking
statements, which speak only as of the date made. Triterras does
not undertake or accept any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements
to reflect any change in its expectations or any change in events,
conditions, or circumstances on which any such statement is
based.
Investor Relations Contacts:Jim
Groh, Triterras Inc.Mobile: +1 (678) 237-7101Email:
IR@triterras.com
Gateway Investor RelationsCody
Slach and Matt GloverOffice: +1 (949) 574-3860Email:
TRIT@gatewayir.com
Media Contacts:Gregory
Papajohn, Office of Corporate Communications, Triterras,
Inc.Mobile: +1 (917) 287-3626Email: press@triterras.com
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