XMachina AI Group Inc. Announces Change in Year End
VANCOUVER, BC, CANADA, December 30, 2022/ EINPresswire.com / -- XMachina AI Group Inc. (“Company”) is pleased to announce that its board of directors has resolved to change the Company’s fiscal year end from December 31st to March 31st effective immediately. The Company is changing its year-end following the recently completed business combination and change of control on June 7, 2022. The terms of the business combination and change of control were previously disclosed in the press release of the Company on June 8, 2022, which is available under the Company’s SEDAR profile at www.sedar.com.
For details regarding the length and ending dates of the financial periods, including the comparative periods, of the interim and annual financial statements to be filed for the Company’s transition year and its new financial year, reference is made to the Notice of Change of Fiscal Year End filed by the Company on SEDAR pursuant to National Instrument 51-102.
About the Company
XMachina AI Group Inc. acquires companies that are applying AI and advanced data analytics in innovative ways to solve real-world business problems. The Company then accelerates their growth by injecting capital, top tier talent and by streamlining its corporate processes. Current sectors of interest for the Company include supply chain and logistics, manufacturing, construction, and real estate management. For more information, please visit https://machina-ai.com.
On behalf of the Board of Director
Chief Financial Officer & Director
Tel: (514) 560-4628
3268 West 26th Avenue
Vancouver, British Columbia
Forward Looking Statements
This news release contains “forward-looking statements” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements.
Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward- looking statements contained herein include, but are not limited to, statements regarding: the Company filing financial statements of the Company on the timelines referenced in the Notice of Change.
Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company’s ability to file its future financial statements on the timelines referenced in the Notice of Change.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: uncertainties relating to the availability and costs of financing needed in the future; current economic conditions; and the Company’s inability to file its future financial statements on the timelines referenced in the Notice of Change.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
XMachina AI Group Inc
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