SINGAPORE, Feb. 02, 2022 (World NEWSWIRE) — Triterras Inc. (NasdaqGM: TRIT, TRITW) (“Triterras” or the “Company”), a top fintech corporation concentrated on trade and trade finance, is offering an update on its December 16, 2021 charm to the Nasdaq Hearing Panel (the “Panel”) of the December 10, 2021 delisting determination produced by the staff members of the Nasdaq Stock Market place (the “Staff”) for the Company’s failure to file its yearly report on Form 20-F for the fiscal calendar year ended February 28, 2021. On February 1, 2022, Triterras acquired notice from the Personnel that the Panel has denied the Company’s attractiveness of the Staff’s final decision to delist the securities of the Enterprise and suspend investing in the securities of Triterras. With the Panel’s decision acquiring been rendered, trading in the Company’s securities on the Nasdaq Stock Industry will be suspended effective with the open up of enterprise on February 3, 2022.
Triterras intends to attractiveness the Panel’s conclusion to the Nasdaq Listing and Hearing Assessment Council (the “Listing Council”) within the applicable 15-working day appeal interval. The initiation of an charm by the Organization to the Listing Council will not stay the suspension of buying and selling except the Listing Council on its individual initiative decides to continue to be the suspension.
The Panel’s selection to delist the Company’s common stock and warrants was centered on the Company’s noncompliance with Nasdaq’s submitting needs established forth in Nasdaq Listing Rule 5250(c)(1) because the Enterprise has not nevertheless filed its once-a-year report on Type 20-F for the fiscal yr finished February 28, 2021.
The Organization is currently reviewing options for continued investing of its securities in the United States. Nonetheless, there can be no assurance that a current market for the Company’s securities will develop.
The Business is continuing to operate with its independent auditor to finish the audit of its consolidated monetary statements. Triterras is committed to furnishing updates on any content developments as they happen.
Triterras is a main fintech firm targeted on trade and trade finance. It introduced and operates Kratos™—one of the world’s most significant trading and trade finance platforms that connects and enables commodity traders to trade and supply money from loan providers immediately on-line. For far more facts, make sure you go to triterras.com or email us at speak [email protected].
Forward Looking Statements
This push launch involves “forward-wanting statements” inside of the which means of the “safe harbor” provisions of the Non-public Securities Litigation Reform Act of 1995. Triterras’ precise success may differ from their anticipations, estimates and projections and therefore, you really should not depend on these ahead-looking statements as predictions of long term activities. Phrases these types of as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and related expressions are supposed to discover such ahead-wanting statements. These forward-wanting statements contain Triterras’ expectations with respect to upcoming efficiency as nicely as timing of completion of the audit of the Company’s consolidated money statements (the “Audit”) and the filing of its annual report on Form 20-F for the fiscal calendar year ended February 28, 2021 (the “Annual Report”) with the U.S. Securities and Exchange Commission (the “SEC”). These forward-hunting statements entail significant dangers and uncertainties that could cause the real outcomes to vary materially from the expected final results. Most of these things are outside Triterras’ regulate and are challenging to forecast. Factors that may cause these types of differences include things like but are not limited to the completion of the Audit, the filing of the Yearly Report, and the choice of the Listing Council with regard to any attractiveness of the Panel’s selection, as properly as the pitfalls and uncertainties integrated by reference underneath “Risk Factors” in Triterras’ Form 20-F (001-39693) filed with the SEC on November 16, 2020 and in Triterras’ other filings with the SEC. Triterras cautions that the foregoing record of components is not exclusive. There can be no assurance that the Audit will be done sufficiently in advance to empower Triterras to complete and file the Yearly Report ahead of the summary of the appeal system, that the Listing Council will render a selection favorable to Triterras in its attractiveness of the Panel’s conclusion, or that Triterras will be ready to regain compliance with the Nasdaq Listing Guidelines in just any additional extension period of time granted by Nasdaq (which includes by the Listing Council). Triterras cautions viewers not to spot undue reliance upon any ahead-on the lookout statements, which talk only as of the date made. Triterras does not undertake or take any obligation or enterprise to launch publicly any updates or revisions to any forward-seeking statements to replicate any alter in its expectations or any modify in functions, disorders, or situation on which any these kinds of assertion is based.
Trader Relations Contacts:
Jim Groh, Triterras Inc.
Mobile: +1 (678) 237-7101
Electronic mail: [email protected]
Gateway Trader Relations
Matt Glover and Jeff Grampp, CFA
Business office: +1 (949) 574-3860
E-mail: [email protected]
Gregory Papajohn, Business of Corporate Communications, Triterras, Inc.
Cell: +1 (917) 287-3626
Electronic mail: [email protected]