TORONTO, April 3, 2024 /CNW/ - Payfare Inc. ("Payfare" or the "Company") (TSX: PAY) (OTCQX: PYFRF) announces that further to its application to the Ontario Securities Commission ("OSC") for a management cease trade order ("MCTO") to be imposed in respect of its delay in filing its audited annual financial statements, management's discussion and analysis, annual information form, and related certifications, all for the year ended December 31, 2023 (collectively, the "Annual Filings"), the OSC has today granted the MCTO. The MCTO prohibits the chief executive officer and the chief financial officer of the Company from trading in securities of the Company for so long as the Annual Filings are not filed, including the disposition or acquisition of securities of the Company under any automatic plan. During this period, the Company will cease any share buy-back activities under its normal course issuer bid, and has undertaken not to, directly or indirectly, issue or acquire securities from an insider or employee of the Company.
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