Interfield Global Software Inc. Provides Update on Status of Failure-To-File Cease Trade Order

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VANCOUVER, British Columbia, June 06, 2024 (GLOBE NEWSWIRE) — Interfield Global Software Inc. (Cboe CA: IFSS) (“‎”a company“”) announces that on April 8, 2024, the British Columbia Securities Commission, as the company's primary regulator, issued a trading halt order due to inability to serve (“)Affecto“) of the company under National Policy 11-207 Failure to file results in stop trade orders and cancellations in multiple jurisdictions ((NB 11-207“). The FFCTO was issued following the Company's announcement on April 1, 2024 (“Default advertising) concerning its inability to submit its annual audited financial statements, management’s discussion and analysis and related certifications for the year ended December 31, 2023 (collectively referred to as “ “Annual deposits“) on or before April 2, 2024, as required by applicable securities laws.

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As a result of the delay in annual filings, the Company was unable to file its interim financial statements and the testimony of its CEO and CFO for the interim filings and accompanying management discussion and analysis for the three months ended March 31, 2024 (collectively)Temporary deposits“) by the deadline of May 15, 2024.

The Company's management continues to work diligently with its auditors, MNP LLP, to complete the annual filings and expects to complete the annual filings on or before June 14, 2024. The company expects that it will complete the interim files simultaneously with the annual files. .

About Interfield Global Software Inc.

The Company is a publicly traded company, and its common shares are listed on the Cboe Canada Stock Exchange. (Cboe CA: IFSS) operates out of Dubai, United Arab Emirates through its wholly owned subsidiary, Interfield Software Solutions LLC (“Interfield Solutions“).

Interfield Solutions is a software company serving many industrial sectors around the world including oil and gas, mining and renewable energy. Interfield Solutions has two operating divisions, E-Commerce and SaaS. Equipment Hound, the company's flagship product in its e-commerce division, is an industrial equipment marketplace that connects buyers and suppliers around the world. Equipment Hound manages a catalog of equipment from various suppliers and provides purchasing solutions to buyers. It includes features such as requests for quotes, logistical support, and third-party verification. ToolSuite, the company's flagship product in its SaaS division, is a cloud-based data collection and management platform that digitizes industrial processes and provides real-time, auditable data to customers.

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On behalf of the Board of Directors

“Harold Heimrich“

Harold Heimrich, CEO and Director

Phone: +971 50 558 8349

Bruce Nurse, Investor Relations

Phone: +1 303 919 2913

Disclaimer For Forward-Looking Statements and Advice to the Reader

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, contained herein are forward-looking information. In particular, this press release contains forward-looking information regarding: the filing of annual filings and interim filings, including the timing of the filing of annual filings and interim filings. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events may differ materially from those anticipated in such forward-looking information. This forward-looking information reflects the Company's current beliefs and is based on information currently available to the Company and on assumptions that the Company believes are reasonable. These assumptions include, but are not limited to, the Company's ability to complete annual filings and interim filings in the specified time frame. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. These risks and other factors may include, but are not limited to: business, economic, competitive, political and social uncertainty; general capital market conditions and market prices of securities; delays or failure to obtain regulatory or board approvals; Actual results of future operations. a race; changes in legislation affecting the Company; Timing and availability of external financing on acceptable terms; Long-term capital requirements and future developments in the Company's markets and the markets in which it expects to compete, or the loss of key individuals. A description of additional risk factors that could cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on SEDAR+ at www.sedarplus.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the above list of factors is not exhaustive. Readers are also cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they have been placed will occur. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this press release represents the Company's expectations as of the date of this press release and is therefore subject to change after such date. However, the Company expressly 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 expressly required by applicable securities law.

No securities regulatory authority has approved or disapproved the contents of this news release. Cboe Canada Exchange does not accept responsibility for the adequacy or accuracy of this press release.

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