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CALGARY, AB, May 06, 2026 (GLOBE NEWSWIRE) — (TSXV:SEGN) (“Seegnal” or the “Company”) announced today that, further to its news release dated April 30, 2026, it remains unable to file its audited annual consolidated financial statements for the year ended December 31, 2025, together with the related management’s discussion and analysis and CEO and CFO certifications (collectively, the “Annual Filings”), by the prescribed filing deadline.
The delay continues to be related to the timing required by the Company’s recently engaged external auditor to complete final internal procedures prior to issuing its audit opinion. The Company is working diligently with its auditor to complete the Annual Filings and currently expects to file the Annual Filings on or before May 13, 2026.
As previously disclosed, the Company has applied to the Alberta Securities Commission, as principal regulator, and to the British Columbia Securities Commission and the Ontario Securities Commission for a management cease trade order (the “MCTO”) in accordance with National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”). If issued, the MCTO will prohibit trading in the Company’s securities by the Chief Executive Officer and Chief Financial Officer for so long as the order remains in effect.
If issued, and during the period in which the MCTO is in effect, the general investing public will continue to be able to trade in the Company’s common shares listed on the TSX Venture Exchange (“TSXV”). However, for the duration of the MCTO, the Company’s Chief Executive Officer and Chief Financial Officer will not be able to trade in the Company’s common shares, nor will the Company be able to, directly or indirectly, issue securities to or acquire securities from an insider or employee of the Company, except in accordance with legally binding obligations to do so.
The Company confirms that it intends to satisfy and will continue to comply with the alternative information guidelines set out in NP 12-203 for so long as it remains in default of the requirement to file the Annual Filings, including the issuance of bi-weekly default status reports. The Company is not subject to any insolvency proceedings.
The Company further confirms that, other than as disclosed in this news release, there is no material information relating to its affairs that has not been disclosed.
The MCTO, if issued, will remain in effect until the Company files the Annual Filings or the MCTO is otherwise revoked or varied.
About Seegnal
Seegnal is a public company that aims to solve one of the top causes of death and injuries in the modern world – Adverse Drug Effects (ADEs). Seegnal’s Clinical Decision Support system introduces a paradigm shift in the approach to this problem by implementing a new elevated Patient-Centric Standard. Seegnal’s SaaS technology exclusively integrates at the point-of-care, unique patient-specific data like genetics, results of lab tests, ECG, smoking, allergies, food, gender, age, and the effects of many concomitant medications, while reducing the current alert load for clinicians by over 90%. In practice, clinicians using Seegnal eHealth complete their prescription workflow with limited interruption, saving time and fatigue. Similarly, patients enjoy more tailored medication and improved safety, leading to better quality of life, due to the precision of alerts with up to 98% accuracy. Institutions reported a reduction in admissions, medication consumption, and ample time savings in prescription renewals. Seegnal eHealth is marketing its SaaS-based platform in the State of Israel (where recently the Ministry of Health has adopted Seegnal’s patient-specific standard as the new standard in governmental hospitals), the UAE, the United Kingdom, the United States, and Poland. The platform is currently a “standard of care” system for over 10,000 clinicians in Israel, used on a daily basis for prescribing medications to their patients.
Seegnal Media Contact:
Elad Bibi-Aviv
Chief Executive Officer press@seegnal.com
+972-52-533-0856
http://www.seegnal.com
Forward-Looking Information
This news release includes certain “forward-looking information” as defined under applicable Canadian securities legislation, including statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding: the Annual Filings, including the anticipated delay in filing the Annual Filings the timing to complete the Company’s audit, the ability of the Company to file the Annual Filings by the timelines set out in this news release, the ability of the Company to be in compliance with NP 12-203, and expectations for other economic, business, and/or competitive factors. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information.
Investors are cautioned that forward-looking information is not based on historical fact but instead reflects management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the Company may not complete its audit and file the Annual Filings as currently anticipated, or at all; the Company will be subject to a general cease trade order in the event that the MCTO is not granted and/or the Annual Filings are not completed and filed; and the Company may not be able to comply with NP 12-203.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information, which speak only as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
