TORONTO and TAMPA, Florida, December 6, 2024 (GLOBE NEWSWIRE) — Voxtur Analytics Corp.TSX Venture Exchange: VXTR; OTCQB: VXTRF) (“Voxtur” or the “Company”), a North American technology company creating a more transparent and accessible home lending ecosystem, today announced that, following the Company's filing on November 28, 2024, some information has been identified that requires modification. its unaudited interim condensed consolidated financial statements (financial statements) and related management's discussion and analysis (MD&A) for the three and nine months ended September 30, 2024. Accordingly, the Company confirms that the amended financial statements and the related management report have been filed on SEDAR+.
The nature of the modifications includes:
| (I) | Deleted the last sentence of the paragraph below, which was inadvertently included in Notes 2(a) and 10 of the financial statements, as well as in the Credit Facilities section of the MD&A. | |
| As of September 30, 2024, the Company was not in compliance with its financial covenants with respect to its credit facilities. The Company does not have the unconditional right to defer settlement of term loans payable for at least twelve months from September 30, 2024, without obtaining a remedy for the breach of the covenants. Therefore, in accordance with IFRS, the Company classified the non-current portion of the credit facilities, in the amount of $29,623, as a current liability. [In October 2024, amendments to the Company’s credit agreement (the Amendment) were executed, which waives breaches of covenants that existed prior to the date of the Amendment and establishes revised covenants, as discussed in Note 22.] | ||
| (ii) | Corrections of typographical errors in the narrative descriptions of the evolution of results for the quarter ended September 30, 2024, compared to the same period of the previous financial year, within the items Net loss “continuing operations, Overall loss” activities continued and Liquidity and capital. Resources sections of the management report. | |
About Voxtur
Voxtur is a transformational proptech company redefining industry standards in a dynamic lending environment. The company provides targeted data analytics to simplify the multifaceted aspects of the loan lifecycle for investors, lenders, government agencies and service providers. Voxtur's proprietary data hub and workflow platforms value real estate assets more accurately and efficiently, providing critical due diligence that enables market participants to effectively initiate, negotiate or manage transactions. defaults on mortgage loans. As an independent and transparent provider of mortgage technology, the company offers solutions in primary and secondary markets in the United States and Canada. For more information, visit www.voxtur.com.
Forward-looking information
This press release may contain forward-looking statements and forward-looking information (collectively, “forward-looking information”) within the meaning of applicable Canadian securities legislation. Forward-looking information reflects management's current expectations regarding future events, operations, performance or financial results of the Company, and speaks only as of the date of this press release. Forward-looking information may be identified by words such as “anticipates,” “believes,” “expects,” “intends,” “plans,” “projects” or similar expressions. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, such information is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. For a description of the risks and uncertainties facing the Company and its business, readers should refer to the Company's MD&A and other continuous disclosure documents filed on SEDAR+. Readers are cautioned not to place undue reliance on forward-looking information. The Company undertakes no obligation to update or revise this information to reflect new events or circumstances, except as required in accordance with applicable laws.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Voxtur's common shares are traded on the TSX Venture Exchange under the symbol VXTR and in the United States on the OTCQB under the symbol VXTRF.
Contact: ¨
Jordan Ross
Director of Operations ¨
Tel: (416) 708-9764¨
jordan@voxtur.com
For media inquiries:
Jacob Gaffney
Such. : (817) 471-7627
jacob@gaffneyaustin.com
Source: Voxtur Analytics Corp.
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