ZoomAway Cease Trade Order
Thursday, June 25, 2020 5:35 PM
VANCOUVER, BC / ACCESSWIRE / June 25, 2020 / ZoomAway Travel Inc. (TSXV:ZMA) (the "Company") www.zoomawaytravel.com wishes to update its shareholders and investors regarding the Cease Trade Order ("CTO") that was issued by the British Columbia Securities Commission ("BCSC") for failure to report the Company's audited annual financial statements along with the management's discussion and analysis on a timely basis. The CTO was issued at the close of trading on Friday, June 19th and was rescinded by the BCSC on June 24th after the Company completed its necessary annual filings. The Company is currently working to submit all relevant required documentation to the TSX Venture Exchange compliance team to allow the stock to resume trading.
The annual financial reporting filings, for which the deadline had been extended from late April to June 15th by blanket ruling (for Covid-19 restrictions), were further delayed given that the Company's management, working remotely, was unable to interact efficiently with ZoomAway's auditors, Davidson & Company. The 2019 year-end audited financial statements, together with management's discussion and analysis and related documents, were finalized and filed on SEDAR on June 23, 2020 and the BCSC withdrew the CTO on June 24th.
"The Company worked very diligently with our auditors, despite the Covid-19 restrictions in place, to complete our audit. However, despite our best efforts, we missed the mark. Myself and other members of senior management apologize to our shareholders for this. We are now pushing to get our shares back to trading on the TSX-V," said Sean Schaeffer, CEO of Zoomaway Travel Inc.
For additional information contact: Sean Schaeffer, President, ZoomAway Inc.,at 775-691-8860 or [email protected].
ZoomAway, Inc. (Nevada Co.) ZoomAway Travel Inc. is a technology company that is revolutionizing the Hospitality and Travel Industries. We have developed a variety of software solutions that enhance the planning and engagement of everyday tourists. Our flagship project, ZoomedOUT, is a complete modernization and re-imagination of mobile travel apps. In a full 3D environment, we are able to integrate planning, booking, social media, and camaraderie into a tangibly rewarding experience. We are combining Travel, Hospitality, Mobile Gaming and Augmented Reality to change the way users travel into 2020 and beyond. Additional information about ZoomAway Inc. can be found at www.zoomaway.com.
ZMA Travel Game Inc. (Canadian Co.) (formerly TravelGameBlockChain Technology Inc.) is a ZoomAway Travel Inc. subsidiary company dedicated to housing new projects in the digital games. The company's first project is ZoomedOUT, being developed with the assistance of Zero8 Studios, Inc., which can be seen at zoomedout.io. To receive more detailed, or investor level information, please contact us at [email protected] and we will respond with the appropriate documentation depending on your request.
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. 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 may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Neither the TSX Venture Exchange nor it's Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Offering and has neither approved nor disapproved the contents of this press release.
SOURCE: ZoomAway Travel Inc.