TORONTO, April 29, 2024 /CNW/ - Newtopia Inc. ("Newtopia" or the "Company") (TSXV:NEWU) (OTCQB:NEWUF), a tech-enabled habit change provider focused on preventing, slowing and reversing chronic disease, announces a delay in the filing of its audited annual financial statements, management's discussion and analysis and related chief executive officer (CEO) and chief financial officer (CFO) certifications (collectively, the "Annual Filings") for the financial year ended December 31, 2023, which were due today under Canadian securities law requirements. The reason for the delay is due to the Company's auditors, MNP LLP ("MNP"), requiring additional time to complete their remaining audit and quality procedures. The Company notes that there have been no disagreements between the Company and the auditor regarding any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedures. The Company's management, together with its audit committee, has been working with and will continue to work with its auditors to provide all necessary information and complete the Annual Filings. MNP has committed to concluding its procedures by no later than May 15, 2024.   As a result of the delay, the Company expects to be noted in default by applicable securities regulatory authorities in Canada and that the Ontario Securities Commission, as principal regulator, will issue a 'failure-to-file' cease trade order ("FFCTO") in accordance with the principles and guidance set out in National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions of the Canadian Securities Administrators. The FFCTO is expected to prohibit any trading in securities of the Company for so long as it remains in effect, in all Canadian jurisdictions in which the Company is a ...