BEACN Announces Late Filing of Annual Financial Statements

VICTORIA, BC / ACCESSWIRE / May 3, 2024 / BEACN Wizardry & Magic Inc. (TSX-V:BECN) ("BEACN" or the "Company") announces that its annual financial statements and accompanying MD&A for the fiscal year ended December 31, 2023 (the "Annual Financial Documents") are delayed and will be filed after the regulatory deadline of April 29, 2024.

The Company's delay in filing its Annual Financial Documents by the regulatory deadline is due to unexpected delays in completing the audit of the Company, which is being carried out by Davidson & Company LLP, the Company's auditor (the "Auditor"). The audit is fully underway, and the Company is focused on its completion.

The Company proposes to remedy the default by diligently working with the Auditor to ensure the filing of its Annual Financial Documents as soon as possible. The Company expects to be able to issue and file the Annual Financial Documents by May 17, 2024.

Given the circumstances, the Company expects the BC Securities Commission will issue a cease trade order. The cease trade order would affect trading in all securities of the Company and would remain in effect until it is revoked following filing of the Annual Financial Documents.

The Company confirms that there is no material information relating to its affairs that has not been generally disclosed.

About BEACN

BEACN (TSX-V: BECN), a Victoria BC based consumer electronics company, develops innovative audio equipment, peripherals and technology for gamers, live streamers, and content creators. BEACN is committed to delivering premium products that enable everyone to produce studio-quality content. BEACN's award-winning product ecosystem includes BEACN Mic, BEACN Mix and BEACN Mix Create. BEACN is listed on the TSXV under the symbol BEACN.

Media & Investor Enquiries

Daniel Davies
ir@beacn.com
+1 (778) 561-1450

Reader Advisory

Certain information set forth in this news release contains forward-looking statements or information ("forward-looking statements"), including details about the possible cease trade order. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control.

Although the Company believes that the expectations in its forward-looking statements are reasonable, its forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated, or implied in the forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: BEACN Wizardry & Magic Inc.