D-BOX Announces Management Cease Trade Order Per National Policy 12-203

MONTREAL, Aug. 13, 2021 (GLOBE NEWSWIRE) — D-BOX Technologies Inc. (“D-BOX” or the “Corporation”) (TSX: DBO) announces that further to its news release dated July 28, 2021 (the “Default Announcement”) relating to the gradual resumption of its activities following a ransomware cyberattack and an anticipated delay in the filing of its unaudited and condensed interim consolidated financial statements, its management’s discussion and analysis for the quarter ended June 30, 2021 and related Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”) certifications which were due on August 14, 2021 (collectively the “Required Documents”), the Corporation’s principal regulator, the Autorité des marchés financiers (the “AMF”) granted a management cease trade order (the “MCTO”) on August 12, 2021, under National Policy 12-203 Respecting Management Cease Trade Orders (“NP 12-203”). Pursuant to the MCTO, the CEO, the CFO and all the directors of the Corporation may not trade in securities of the Corporation until such time as the Corporation files the Required Documents and the AMF revokes the MCTO. The MCTO does not affect the ability of shareholders to trade their securities. The Corporation expects to file the Required Documents as soon as they are available, but in any event no later than September 16, 2021.

The Corporation’s Board of Directors and management confirm that they are working expeditiously to file the Required Documents and confirm that since the Corporation’s press releases dated July 14, 2021 and July 28, 2021:

• There have been no material changes to the information contained in the Default Announcement that would reasonably be expected to be material to an investor;
• There have been no failures by the Corporation to fulfill its stated intentions with respect to satisfying the provisions of the alternative information reporting guidelines under NP 12-203;
• There has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the Default Announcement; and
• There has been no material information concerning the Corporation’s affairs that has not been generally disclosed.

Until the Required Documents have been filed and the MCTO has been revoked, the Corporation intends to continue to satisfy the provisions of the alternative information guidelines specified in NP 12-203 by issuing default status reports in the form of further press releases every two weeks.

ABOUT D-BOX
D-BOX creates and redefines realistic, immersive entertainment experiences by moving the body and sparking the imagination through effects: motion, vibration and texture. D-BOX has collaborated with some of the best companies in the world to deliver new ways to enhance great stories. Whether it’s movies, video games, music, relaxation, virtual reality applications, themed entertainment or professional simulation, D-BOX creates a feeling of presence that makes life resonate like never before. D-BOX Technologies Inc. (TSX: DBO) is headquartered in Montreal with offices in Los Angeles, USA and Beijing, China. Visit D-BOX.com.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

Certain information included in this press release may constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information in this news release includes, but is not limited to, statements regarding the timing, review, completion and filing of the Required Documents, and duration of the MCTO; the future plans, activities, objectives, operations, strategy, business outlook, and financial performance and condition of the Corporation, or the assumptions underlying any of the foregoing. In this press release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking information, by its very nature, is subject to numerous risks and uncertainties and is based on several assumptions which give rise to the possibility that actual results could differ materially from the Corporation’s expectations expressed in or implied by such forward-looking information and no assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including but not limited to the future plans, activities, objectives, operations, strategy, business outlook and financial performance and condition of the Corporation.

Forward-looking information is provided in this press release for the purpose of giving information about Management’s current expectations and plans and allowing investors and others to get a better understanding of the Corporation’s operating environment. However, readers are cautioned that it may not be appropriate to use such forward-looking information for any other purpose.

Forward-looking information provided in this press release is based on information available at the date hereof and/or management’s good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Corporation’s control.