Siyata Mobile Inc (SYTA)

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6-K 1 ea176493-6k.

Source
https://www.sec.gov/Archives/edgar/data/1649009/000121390023028041/ea176493-6k_siyatamobile.htm

April 06, 2023

On April 3, 2023, Siyata Mobile Inc., a British Columbia (Canada) company, that is a global vendor of Push-to-Talk over Cellular devices and of cellular signal booster systems, received two letters from the British Columbia Securities Commission (“BCSC”), which is the Company’s principal securities regulator in Canada.

One letter identified that the Company had failed to file its Annual Information Form (“AIF”) for the Company’s financial year ended December 31, 2022, within the timeline prescribed under Canadian securities regulation, and had failed to pay routine filing fees in connection with that filing.

The other letter identified that the Company had failed to file its annual financial statements, annual management’s discussion and analysis, and certification of those annual filings for the Company’s financial year ended December 31, 2022, each within the timeline prescribed under Canadian securities regulation, had failed to pay routine filing fees in connection with those filings.

Exhibits 99.1
https://www.sec.gov/Archives/edgar/data/1649009/000121390023028041/ea176493ex99-1_siyatamobile.htm
Exhibits 99.2,
https://www.sec.gov/Archives/edgar/data/1649009/000121390023028041/ea176493ex99-2_siyatamobile.htm

As a result of the failure to file the aforementioned annual documents within the prescribed timelines under Canadian securities regulation, Siyata has been designated as an issuer in default with those obligations by the two Canadian securities regulators under which Siyata is a reporting issuer, being the BCSC and the Alberta Securities Commission.

Failure to correct the above noted deficiencies may result in further enforcement action by the BCSC, as the Company’s principal securities regulator in Canada, including the issuance of a cease trade order that will apply in each jurisdiction of Canada to which the Company’s securities are subject.

The Company currently intends to file its AIF, annual financial statements, annual management’s discussion and analysis and certifications of its annual filings with the BCSC on or before May 15, 2023, which is expected to result in the Company ceasing to be designated as an issuer in default under Canadian securities regulation.

The Company does not believe that the designation Siyata as an issuer in default under Canadian securities regulation will impact the trading of the Registrant’s common shares and warrants, trading under the symbols SYTA and SYTAW, respectively, on the Nasdaq Capital Market.

The information and documents furnished in this Report shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section.