Calgary, Alberta / TheNewswire / October 29, 2025 – Credissential Inc. (“Credissential” or the “Company”) (CSE: WHIP), announces today that, as a result of delays in completing its audit, the Company is unable to file its annual financial statements, accompanying management’s discussion and analysis, and the related CEO and CFO certifications for the fiscal year ended June 30, 2025 (collectively, the “Annual Filings”) by the prescribed filing deadline of October 28, 2025 under Part 4 of National Instrument 51-102 – Continuous Disclosure Obligations. In connection with the Company's inability to file the Annual Filings on time, the Company announces that it was granted approval for a Management Cease Trade Order (“MCTO”) under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”) by the British Columbia Securities Commission, as principal regulator.

 

The delay in completing the audit is due to the complexity of the Company’s financial reporting period, which included the consolidation of two acquisitions and convertible note financings. These transactions introduced additional audit and review procedures relating to purchase price allocations, fair value assessments, and financial instrument accounting that extended beyond the initially anticipated scope and timeline. Management, in consultation with the Company’s auditors and accounting advisors, had initially believed the audit could be completed within the prescribed filing deadline; however, as these complexities were identified in the later stages of the audit, additional time became necessary to complete the required testing, review, and disclosure procedures. The Company is working diligently with Kenway Mack Slusarchuk Stewart LLP, the Company’s auditors, to complete the audit and expects to file the Annual Filings as soon as practicable.

 

The Company currently expects to file the Annual Filings on or before November 29, 2025, and will issue a news release announcing the completion of such filings at that time. In the interim, the Company will comply with the alternative information guidelines set out in National Policy 12-203 – Management Cease Trade Orders. These guidelines require the Company to issue bi-weekly default status reports by way of news release for so long as the Annual Filings remain outstanding.

 

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 Financial Officer and Chief Executive Officer will be subject to a trading prohibition in accordance with the terms of the MCTO and will not be permitted to trade in the Company’s securities until the Annual Filings are filed and the MCTO is lifted.

 

The Company confirms that it is not currently subject to any insolvency proceedings and further confirms that there is no other material information concerning its affairs that has not been generally disclosed.

 

About Credissential

 

Credissential is an AI powered financial services software developer.

For more information about Credissential and other products from Credissential, visit www.credissential.com.

ON BEHALF OF THE BOARD OF DIRECTORS

 

Chief Executive Officer                Colin Frost

Head Office                         2004 Sherwood Drive Sherwood Park, AB T8A 0Z1

Telephone                         +1 (236) 513 4776

Email                                 info@credissential.com  

 

The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

 

Forward-Looking Information

 

Certain statements in this news release may constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking information relates to future events or anticipated performance of the Company and reflects management’s current expectations or beliefs regarding such future events. Forward-looking statements in this release include, but are not limited to: statements regarding the timing, progress, and completion of the Company’s annual audit; the expected timing for the filing of the Annual Filings; the anticipated duration of the MCTO; and the Company’s intentions to issue bi-weekly default status reports for so long as the Annual Filings remain outstanding. Forward-looking information is subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, the risk that the Annual Filings may not be completed within the anticipated timeframe, the outcome of audit procedures and regulatory reviews, the availability of key personnel and external resources, and general business, economic, and market conditions. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated.

 

The Company confirms that it is not currently subject to any insolvency proceedings and further confirms that there is no material information concerning its affairs that has not been generally disclosed. Except as required by applicable law, the Company does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise. Additional information is available in the Company’s filings on SEDAR+ at www.sedarplus.ca.