Reeflex Solutions Inc. Announces Delay in Filing Annual Financial Statements, Intent to Restate Quarterly Financial Statements and Application for Management Cease Trade Order

Core Points - Reeflex Solutions Inc. is unable to meet the December 29, 2025 filing deadline for its audited annual financial statements and intends to restate its interim financial statements for the quarter ended May 31, 2025 [1][2] - The delay is due to the complexity of the audit process and the transition from a privately held company to an IFRS-compliant public company following a reverse takeover transaction [2] - The company has engaged a new auditor, MNP LLP, and changed its year-end to August 31, 2025, to align with its subsidiary Coil Solutions Inc. [2] Required Filings - The company is working diligently with its auditor to complete the required filings and expects to finalize them around January 29, 2025 [3] - The restatement of the Q3 filings is necessary to reflect the results of Coil Solutions Inc. only from the acquisition date of May 15, 2025, in accordance with IFRS [2] Management Cease Trade Order (MCTO) - Reeflex has applied for a Management Cease Trade Order (MCTO) from the Alberta Securities Commission, which, if granted, will restrict the CEO and CFO from trading in the company's securities until the required filings are made [4] - The MCTO will not affect the general investing public's ability to trade in the company's common shares [4] Business Performance - The restatement of the Q3 filings is technical and does not impact the company's core operations, customer relationships, or business momentum [6] - Reeflex continues to execute on its manufacturing and international growth initiatives, having received $2.6 million in purchase orders for products in Saudi Arabia and a $3.4 million contract for product design and manufacturing [6] - The company confirms it has sufficient working capital to fund its day-to-day operations [6]