Triterras, Inc. Announces Independent Investigation by the Audit Committee to Address and Rebut Recent Short Report
2021年1月25日 - 10:30PM
Triterras Inc. (Nasdaq: TRIT, TRITW), a leading
fintech company for trade and trade finance, has made two key
announcements.
With the full support of management, the Audit Committee has
initiated an independent investigation into accusations made by a
recent short report that has caused significant volatility in the
Company’s share price. The investigation will be overseen by
the Audit Committee of the Company’s Board of Directors. The Audit
Committee is in the process of selecting the legal counsel that
will conduct the investigation into the blockchain, related party
transaction and other accusations made. The undertaking of this
investigation by an independent third party is enthusiastically
supported by the Company’s CEO and executive management, and the
company expects this review to set the record straight regarding
the false and/or incomplete information included in the recent
short report.
The Company has also announced that they will be replacing KPMG
LLP as the Company’s independent accountants. For some time,
there has been consideration and discussion with respect to
replacing the independent accountants of the Company for various
considerations, including to further separate the operations of
Triterras, Inc. from its related party company Atanium (formerly
Rhodium Resources). KPMG LLP resigned as the Company’s independent
accountants effective January 20, 2021.
Furthermore, the reports of KPMG on the financial statements of
Triterras Fintech Pte. Ltd (the Company’s operating subsidiary) for
the fiscal years ended February 29, 2020 and February 28, 2019 did
not contain an adverse opinion or a disclaimer of opinion and were
not qualified or modified as to uncertainty, audit scope or
accounting principle.
The Company is in discussions regarding the engagement of
another independent accounting firm of international repute.
The Company maintains a positive view of the future and is
optimistic on the current management growth initiatives
underway.
About Triterras Triterras is a
leading fintech company focused on trade and trade finance. It
launched and operates Kratos™—one of the world’s largest commodity
trading and trade finance platforms that connects and enables
commodity traders to trade and source capital from lenders directly
online. For more information, please visit www.triterras.com or
email us at contact@triterras.com.
Forward Looking StatementsThis press release
includes “forward-looking statements” within the meaning of the
“safe harbor” provisions of the Private Securities Litigation
Reform Act of 1995. Triterras’ actual results may differ from their
expectations, estimates and projections and consequently, you
should not rely on these forward-looking statements as predictions
of future events. Words such as “expect,” “estimate,” “project,”
“budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,”
“will,” “could,” “should,” “believes,” “predicts,” “potential,”
“continue,” and similar expressions are intended to identify such
forward-looking statements. These forward-looking statements
include Triterras’ expectations with respect to future performance.
These forward-looking statements involve significant risks and
uncertainties that could cause the actual results to differ
materially from the expected results. Most of these factors are
outside Triterras’ control and are difficult to predict. Factors
that may cause such differences include but are not limited to
risks and uncertainties incorporated by reference under “Risk
Factors” in Triterras’ Form 20-F (001-39693) filed with the
Securities and Exchange Commission (the “SEC”) on November 16, 2020
(the “Form 20-F”) and in Triterras’ other filings with the SEC.
Triterras cautions that the foregoing list of factors is not
exclusive. Triterras cautions readers not to place undue reliance
upon any forward-looking statements, which speak only as of the
date made. Triterras does not undertake or accept any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statements to reflect any change in its
expectations or any change in events, conditions, or circumstances
on which any such statement is based.
Investor Relations Contacts:Jim Groh, Triterras
Inc.Mobile: +1 (678) 237-7101Email: IR@triterras.com
Gateway Investor RelationsCody Slach and Matt
GloverOffice: +1 (949) 574-3860Email: TRIT@gatewayir.com
Media Contacts:Gregory PapajohnOffice of Corporate
CommunicationsTriterras, Inc.Mobile: +1 (917) 287-3626Email:
press@triterras.com
Edmond Lococo, ICR Inc.Mobile: +86 138-1079-1408Email:
Edmond.Lococo@icrinc.com
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