Payfare Announces Delay in its Annual Filings

TORONTO, March 28, 2024 /PRNewswire/ – Payfare Inc. (“Payfare” or the “Company”) (TSX:PAY) (OTCQX: PYFRF) today announces that, as a result of delay by one of the Company’s material vendors in completing its annual System and Organization Controls (“SOC 1“) auditor’s report, which report is required in order for the Company’s auditors to issue their opinion with respect to the Company’s audited annual financial statements, the Company will not be able to file its audited annual financial statements, the related management’s discussion and analysis, and the accompanying chief executive officer and chief financial officer certification for its financial year ended December 31, 2023 (the “Annual Filings“), within 90 days of December 31, 2023, as required under Parts 4 and 5 of National Instrument 51-102 – Continuous Disclosure Obligations and National Instrument 52-109 – Certification of Disclosure in Issuers’ Annual and Interim Filings.  As a result, the Company will also be required to delay filing of its Annual Information Form for the year ended December 31, 2023 (the “AIF“).

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