VANCOUVER, BCMay 3, 2023 /CNW/ – CareSpan Health, Inc. (TSXV: CSPN) (the “Company” or “CareSpan“), announces that the filing of its audited annual financial statements for the year ended December 31, 2022, including the related management discussion and analysis, and Chief Executive Officer and Chief Financial certifications (collectively, the “Annual Financial Filings“) will not be filed by the required filing deadline of May 1, 2023 (the “Filing Deadline“). The  two-week extension is due mainly to an unforeseen later start in scheduling of audit-related activities. The Company, working diligently with its auditors, anticipates that it will be in a position to file the Annual Financial Filings the week of May 15, 2023.

Pursuant to National Policy 12-203 Management Cease Trade Orders (“NP 12-203“), the Company has voluntarily applied to the applicable securities regulatory authorities and received a management cease trade order related to the Company’s securities to be imposed against the Chief Executive Officer and Chief Financial Officer of the Company to trade securities of the Company (the “MCTO“). The MCTO will be in effect until the Annual Financial Filings are filed.  All other securityholders will still be able to trade in the securities of the Company in accordance with applicable securities laws.

Until the Annual Financial Filings are filed and the MCTO has been revoked, the Company intends to continue to satisfy the provisions of the alternative information guidelines specified in NP 12-203 by issuing default status reports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.