VANCOUVER, BC / ACCESS Newswire / May 30, 2025 / Metavista3D Inc. (TSXV:DDD)(FSE:E3T) ("Metavista3D" or the "Company") is providing this bi-weekly default status report in accordance with National Policy 12-203 - Management Cease Trade Order ("NP 12-203") with respect to the previously announced management cease trade order (the "MCTO") issued by the British Columbia Securities Commission, as principal regulator, on May 1, 2025.
On May 2, 2025, the Company announced that, for reasons disclosed in the news release, there would be a delay in the filing of its financial statements and accompanying management's discussion and analysis for the fiscal year ended December 31, 2024 (the "Annual Filings") beyond the period prescribed under applicable Canadian securities laws (the "Default Announcement"). The Company confirms that it is actively working with its audit team to complete the Annual Filings, which will be filed as soon as possible. Subject to current conditions remaining the same, the Company remains confident in its ability to complete the Annual Filings before the June 30, 2025, deadline.
The Company also announces that the filing of its unaudited interim financial statements, management's discussion and analysis and related CEO and CFO certifications for the three-months ended March 31, 2025 (the "Interim Filings"), will be delayed beyond the filing deadline of May 30, 2025, as a result in the delay in completing the Annual Filings. The Company expects that the Interim Filings will be filed within five business days from the date the Annual Filings are completed. Further updates on timing will be provided by the Company as necessary.
The Company confirms that since the date of the Default Announcement: (i) other than as described above, there has been no material change to the information set out in the Default Announcement that has not been generally disclosed, (ii) there has been no failure by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203; (iii) there has not been any other specified default by the Company under NP 12-203, and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.
During the MCTO, the general investing public will continue to be able to trade in the Company's listed common shares. However, the Company's Chief Executive Office and Chief Financial Officer will not be able to trade in the Company's common shares.
The Company confirms that it intends to satisfy the provisions of NP 12- 203 and will continue to issue bi-weekly default status reports for so long as it remains in default of the Annual Filings requirement.
About Metavista3D
Metavista3D Inc., through its wholly owned subsidiary psHolix AG, is developing AI-driven, pseudo-holographic display technologies aimed at enabling glasses-free 3D visualization of spatial content. The Company holds a portfolio of over 20 patents related to this technology. For more information, visit www.metavista3D.com.
Metavista3D's shares are publicly traded and listed in Canada on the TSX-Venture Exchange under the ticker symbol DDD, and on the German Stock Exchange in Frankfurt and others under the ticker symbol E3T.
ON BEHALF OF THE BOARD OF DIRECTORS
Jeffrey Carlson CEO
E: jeff@metavista3d.com
T: (702) 518-3220
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice Regarding Forward-Looking Information:
This press release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein, without limitation, statements relating to completion of the audit of the year ended December 31, 2025 and timing thereof, completion of the Annual Filings and timing thereof, and that the Company will complete the Annual Filings by May 31, 2025 are forward looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those expressed or implied in such forward-looking statements. These forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates.
The Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Investors are encouraged to read the Company's continuous disclosure documents and audited annual consolidated financial statements which are available on SEDAR+ at www.sedarplus.ca.
SOURCE: Metavista3D Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/computers-technology-and-internet/metavista-provides-second-bi-weekly-mcto-status-update-1034100
