Byrna Technologies Inc. Postpones First Quarter Reporting Due to COVID-19 Related Delays

Wakefield, Massachusetts–(Newsfile Corp. – April 20, 2020) – Byrna Technologies Inc. (OTCQB: BYRN) (CSE: BYRN) (“Byrna” or the “Company”) is postponing the reporting of its first quarter 2020 results and its associated filings due to logistics caused by the COVID-19 pandemic. Recent global events pertaining to COVID-19 have impacted the Company’s and its consultant’s ability to rely on timely information for its financial reporting obligations. The Company’s personnel at the corporate headquarters in Massachusetts have been subject to a stay at home order in effect through at least May 4, working remotely with their auditors and other third parties. Subject to completion of the audit of its fiscal year ending November 2019, also delayed for COVID-19 related reasons, the Company will report results for the first quarter 2020 as soon as possible. The Company is afforded the postponement by a 45-day extension announced by the Ontario Securities Commission under the “Ontario Instrument 51-502”, dated March 23, 2020. The OTCQB also affords the Company a cure period of 45 calendar days to file its quarterly report following the original due date.

Ensuring a safe and healthy working environment for our workforce is a primary focus for Byrna and we continue to implement and enforce additional precautionary health and safety measures. The Company will continue to seek to manage operational risk and preserve capital during this very difficult time.

The Company ratifies that management and the Company’s insiders remain subject to the Company’s Insider Trading Policy and confirms that there have been no material business developments since October 2019 when the Company filed its third quarter interim financial results other than as announced.

About Byrna Technologies Inc. (OTCQB: BYRN) (CSE: BYRN)

Byrna is an emerging non-lethal technology company, specializing in the development and manufacture of innovative less lethal equipment and munitions. For more information on the Company, please visit the corporate website here or the company’s investor relations site here. The Company recently launched its breakthrough Byrna® HD personal security device, which looks to be the leading choice in the consumer and private security markets for non-lethal home protection, personal safety, and security.

Forward Looking Information

This news release contains “forward-looking statements” and “forward-looking information” (collectively, “forward-looking information”) within the meaning of applicable Canadian and United States securities legislation. All information contained in this news release, other than statements of current and historical fact, is forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “budget”, “guidance”, “scheduled”, “estimates”, “forecasts”, “strategy”, “target”, “intends”, “objective”, “goal”, “understands”, “anticipates” and “believes” (and variations of these or similar words) and statements that certain actions, events or results “may”, “could”, “would”, “should”, “might,” “occur” or “be achieved” or “will be taken” (and variations of these or similar expressions). Forward-looking information is also identifiable in statements of currently occurring matters which may continue in the future, such as “providing the Company with”, “is currently”, “allows/allowing for”, “will advance” or “continues to” or other statements that may be stated in the present tense with future implications. All of the forward-looking information in this news release is qualified by this cautionary note.

Forward-looking information in this news release includes, but is not limited to, statements regarding its ability to file its first quarter financial statements for the three months ended February 29, 2020 and its associated filings, and its ability to manage risk and preserve capital under the market conditions triggered by the COVID-19 pandemic. Forward-looking information is not, and cannot be, a guarantee of future results or events. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by Byrna at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may cause actual results and events to be materially different from those expressed or implied by the forward-looking information. The material factors or assumptions that Byrna identified and were applied by Byrna in drawing conclusions or making forecasts or projections set out in the forward-looking information include, but are not limited to reliance on third parties for audit related services, health and availability of employees and consultants working on the financial statements and audit, continued access to all the Company’s books and records notwithstanding office closures, and the Company’s ability to complete the filing of its financials for the year ended November 30, 2019 and its associated filings, and the financial and product market conditions and other events including those related to the COVID-19 pandemic.

Should one or more risk, uncertainty, contingency, or other factor materialize, or should any factor or assumption prove incorrect, actual results could vary materially from those expressed or implied in the forward-looking information. Accordingly, the reader should not place undue reliance on forward-looking information. Byrna does not assume any obligation to update or revise any forward-looking information after the date of this news release or to explain any material difference between subsequent actual events and any forward-looking information, except as required by applicable law.

For further information contact:
Investor Relations
Lisa Wager, CLO
(978) 665-2721
lisa@byrna.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54672

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