Hire Technologies Announces Denial of MCTO and Delay in Filing Its Annual Financial Statements for 2022

Apr 29, 2023

TORONTO, ON / ACCESSWIRE / April 28, 2023 / HIRE Technologies Inc. (TSXV:HIRE.V)(OTCQB:HIRRF) ("HIRE" or the "Company"), a company focused on modernizing and digitizing human resources solutions, announces that its application to the Ontario Securities Commission ("OSC") to approve a management cease trade order ("MCTO") under National Policy 12-203 - Management Cease Trade Orders ("NP 12-203") has been denied. The Company previously reported a delay in filing its Annual Financial Statements for the fiscal year ended December 31, 2022, as outlined in the Company's news release dated April 17, 2023. The Company continues to expect it will be unable to file its audited financial statements for the year ended December 31, 2022, and the management's discussion and analysis and related Chief Executive Officer and Chief Financial Officer certificates for this period (collectively, the "Required Filings") by the May 1, 2023 filing deadline (the "Filing Deadline"). The Company's failure to file its Required Filings by the Filing Deadline is due to unforeseen challenges in completing the 2022 financial audit. The recent resignation of the Company's CFO and the ongoing search for a suitable replacement have led to internal resource constraints, causing delays in providing necessary information to the Company's auditor. Additionally, the complexities associated with the recently completed divestiture of The HeadHunters business unit have contributed to the audit's prolonged completion.

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