ATW Provides Second Bi-Weekly Default Status Update

MONTREAL, July 13, 2020 (GLOBE NEWSWIRE) -- ATW Tech Inc. ("ATW" or the "Corporation") is providing this second bi-weekly default status report in accordance with National Policy 12-203 Management Cease Trade Orders ("NP 12-203"). In its initial default announcement of June 16, 2020, the Corporation announced the delay  in the filing of its annual audited financial statements, annual management’s discussion and analysis and related certifications for the year ended December 31, 2019 (collectively the "Required Documents") by the filing deadline provided for under the temporary exemption granted under decision N°2020-PDG-0023 issued by the Autorité des marchés financiers (“AMF Temporary Exemption"). The Corporation subsequently provided a bi-weekly default status report on June 29, 2020. As previously announced, the Corporation’s principal regulator, the Autorité des marchés financiers (the “AMF”) granted a management cease trade order (the "MCTO") on June 16, 2020, under NP 12-203.  Pursuant to the MCTO, Carlos Bedran, Michel Guay and Louis Lessard may not trade in securities of the Corporation until such time as the Corporation files, and the AMF revokes the MCTO. The MCTO does not affect the ability of other shareholders to trade their securities.

The Corporation’s Board of Directors and management confirm that they are working expeditiously to file the Required Documents and expect to do so on or prior to July 15, 2020, and further confirm that the Corporation has now filed an application with the AMF for a new management cease trade order (the "MCTO") with respect to the filing of its interim financial statements and accompanying management’s discussion and analysis, and related CEO and CFO certifications, for the first quarter of 2020 ending March 31, 2020 (collectively the “Interim Documents”).

The Corporation confirms that there are no insolvency proceedings against it as of the date of this press release and also confirms that since the Corporation’s news release dated June 16, 2020, there is no other material information respecting the Corporation’s affairs that has not been generally disclosed, including in the press release of June 2, 2020, regarding the delay in filing of its Interim Documents.

Until the Required Disclosure has been filed, the Corporation intends to continue to satisfy the provisions of the alternative information guidelines specified in NP 12-203 by issuing bi-weekly default status reports in the form of further press releases for so long as the Corporation remains in default of the periodic disclosure filing requirements. In the event that the Corporation does not file the Required Disclosure, the Canadian Securities Regulatory Authorities may impose an issuer cease trade order on the outstanding securities of the Corporation.

Additional information regarding ATW is available on SEDAR www.sedar.com. The TSX Venture Exchange and its Regulatory Services provider (as per meaning assigned to this term in TSX Venture Exchange’s policies) bear no liability as to the relevance or accuracy of this press release.

ABOUT ATW

ATW Tech (TSX-V: ATW) is a leader in financial technologies (‘fintech’), owner of several web platforms including VoxTel and Option.vote. VoxTel offers various interactive communication, landline and mobile carrier billing phone solutions. Option.vote offers a large scale, customizable, and secure multi-method voting system for unions, political parties, professional associations, and others looking for a way to reduce their voting costs and to improve their participation rates.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information, please contact:

ATW Tech Inc.
Michel Guay
Founder, president and CEO
Tel.: 844.298.5932 ext. 301
mguay@atwtech.com 
www.atwtech.com