ICEsoft Announces Postponement of Filing Its Quarter One 2020 Financial Statements and MD&A Due to COVID-19 Related Delays

Calgary, Alberta--(Newsfile Corp. - May 29, 2020) - ICEsoft Technologies Canada Corp. (CSE: ISFT) (the "Corporation" or the "Company" or "ICEsoft") has postponed filing its quarter one financial statements and management's discussion and analysis for the quarter ending March 31, 2020 (collectively the "Q1 2020 documents") due to delays caused by the COVID-19 pandemic.

ICEsoft is relying on exemptive relief recently granted by Canadian securities regulatory authorities that allows it to delay the filing of its Q1 2020 documents required by National Instrument 51-102 by May 31, 2020. In response to the coronavirus pandemic, securities regulatory authorities in Canada have granted a blanket exemption allowing issuers an additional 45 days to complete their regulatory filings.

ICEsoft estimates that its Q1 2020 documents will be available for filing at its earliest opportunity, which is expected to occur in early June 2020. Until such time as the Q1 2020 documents are filed, ICEsoft's management and other insiders are subject to a trading blackout that reflects the principles contained in section 9 of National Policy 11-207 - Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.

All material business developments since the filing date of its 2019 annual financial statements and accompanying management's discussion and analysis have been press released and filed and copies of which are available on SEDAR at www.sedar.com.

About ICEsoft Technologies Canada Corp.:

ICEsoft Technologies Canada Corp. is a software as a service ("SaaS") company. ICEsoft's current software, which is available as freeware with a pay to use version, is used by some 150,000 developers, 20,000 companies, and some 400 paying customers.

For more information, please contact:
Brian McKinney
Chief Executive Officer
Tel: 403-663-3320

Forward-Looking Information Advisory

Certain information in this press release is forward-looking within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions. This forward-looking information includes, among other things, information with respect to the Corporate Changes, Private Placement and shares for debt transactions, assumptions about future economic conditions and courses of action, and the Company's beliefs, plans, expectations, anticipations, estimates and intentions. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward-looking information. The forward-looking information in this material change report describes the Company's expectations as of the date of this news release and accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/56895

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