Boulder, Colorado and Vancouver, British Columbia--(Newsfile Corp. - October 4, 2023) - Intellabridge Technology Corporation (CSE: KASH) (OTCQB: KASHF) (FSE: KASH) (the "Company" or "Intellabridge"), a financial technology company, is pleased to announce a partnership with Apto Payments Inc. ("Apto") to offer customers an impact finance solution (the "Apto Partnership"), and further announces that, following a review of the Ontario Securities Commission (the "OSC") of the Company's continuous disclosure record and a subsequent request from OSC staff in connection therewith, the Company has refiled the redacted Apto Payments Green Package Agreement between Intellabridge and Apto dated March 15, 2023 providing for the terms and conditions of the Apto Partnership (the "Apto Agreement") and has filed restated audited annual financial statements for the years ended December 31, 2022 and 2021, together with amended and restated management's discussion and analysis for the corresponding financial periods (the "Restated Annual Financial Reports").
The Apto Partnership combines Intellabridge's innovative technology with Apto's expertise in providing full suite card issuance programs and payment processing, to provide a valuable experience for customers. Intellabridge uses Apto's advanced issuance solution and payment processing system to offer best-in-class security features, and seamless payment integrations.
"We believe that our combined strengths will provide customers with an unmatched cashback and donation solution that is easy to use and rewarding," said John Eagleton, Intellabridge CEO. "Our cashback donation services represent an innovative new way for people to give back to their communities. We believe that everyone has the power to make a positive impact and many of our customers are looking for ways to support charities and nonprofits that align with their values."
The refiling of the Apto Agreement originally filed on April 10, 2023 was a result of a corrective disclosure request by staff of the OSC in connection with its review of the Company's application to revoke the cease trade order issued with regard to Intellabridge on May 6, 2022 for delayed filing of certain outstanding continuous disclosure documents. In accordance with OSC Staff Notice 51-711 (Revised) Refilings and Corrections of Errors ("Notice 51-711"), the Company has refiled the Apto Agreement on the Company's SEDAR+ profile at www.sedarplus.ca.
The Company also announces that Intellabridge's audited annual financial statements for the year ended December 31, 2021 were selected by the Canada Public Accountability Board ("CPAB") for an inspection. Based on CPAB's final Engagement Findings Report, Intellabridge's auditor performed additional procedures on digital currencies and share capital. Based on the additional procedures performed by Intellabridge's auditor, Intellabridge filed the Restated Annual Financial Reports to reflect adjustments to the share capital, reserves, deficit and net loss of the Company in those applicable financial years that resulted from the auditors performance of the additional audit procedures. The Restated Annual Financial Reports are available on the Company's SEDAR+ profile at www.sedarplus.ca. Each of the Restated Annual Financial Reports replace and supersede the respective previously filed original financial statements and corresponding management's discussion and analysis. Such previously filed original financial statements and management's discussion and analyses should be disregarded.
As a result of the refiling of the Apto Agreement and filing of the Restated Annual Financial Reports the Company will be placed on the public list of Refiling and Errors in accordance with Notice 51-711.
The Company also announces the postponement of its annual general meeting (the "AGM") of the holders of common shares in the capital of Intellabridge (the "Shareholders") that was to be held at 11:00 a.m. (Calgary time) on October 6, 2023. The board of directors of the Company ("Board") determined, based on ongoing discussions with the OSC, to postpone the AGM to allow the Shareholders to receive the amended and restated audited annual financial statements of the Company for the financial year ended December 31, 2022. The Company anticipates that the postponed AGM will continue to be held virtually via the Zoom meetings platform, however the specific time of the postponed AGM is not yet determined. Once the Board determines the new date and time for the postponed AGM, the Company will deliver a new notice of meeting, management information circular, and proxy materials to its Shareholders in connection with the AGM.
About Intellabridge Technology Corporation
Intellabridge Technology Corporation (CSE: KASH) (OTCQB: KASHF) (FSE: KASH) is a fintech company in the business of impact finance with a mission to make every transaction have a positive impact on the world through cashback solutions and automated customizable donations to charitable organizations based on the United Nations Sustainable Development Goals. Intellabridge's Karma impact finance product, is a progressive web application providing customers with cashback and automated donation systems.
For more information on Intellabridge, visit www.intellabridge.com.
For more information on the Karma impact finance product, visit www.getkarmacard.com.
ON BEHALF OF THE BOARD of DIRECTORS INTELLABRIDGE TECHNOLOGY CORPORATION
Maria Eagleton, COO
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The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). The use of any of the words "will", "plan", "on track", "possible", "anticipated" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward looking statements. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.