Rektron Announces Change of Auditor

VANCOUVER, BC, October 28, 2024 (Newswire.com) - NOT FOR DISTRIBUTION IN THE UNITED STATES OR DISSEMINATION IN THE UNITED STATES

Rektron Group Inc. ("Rektron" or the "Company") (CSE:REK.U)(FRA:F75) a global commodities trading house is pleased to announce that it has appointed PKF Littlejohn LLP, as independent auditor of the Company, effective as of August 26, 2024 (the "Successor Auditor").

The Successor Auditor is being appointed upon the Company requesting Fareed Sheik & co (the "Former Auditor") resign as auditor effective August 26, 2024. The Company appointed the Successor Auditor is a CPAB-qualified auditor, following the listing of the Company on the Canadian Securities Exchange.

The board of directors of the Company appointed the Successor Auditor as the new auditor until the next Annual General Meeting of the Company.

The Former Auditor's reports on the consolidated financial statements of the Company for the years ended July 31, 2023 did not express a modified opinion and the Former Auditor has confirmed there have been no "reportable events" as defined in National instrument 51-102 - Continuous Disclosure Obligations.

The Notice of Change of Auditors, together with the letter from the Former Auditor and the letter from the Successor Auditor, have been reviewed by the Company's Board of Directors.
The Company has sent a Notice of Change of Auditor (the "Notice") to the Former Auditor and to the Successor Auditor and has received a letter from each, addressed to the securities commissions in each of British Columbia, Alberta and Ontario stating that they agree with the information contained in the Notice. The Notice, together with the letters from the Former Auditor and the Successor Auditor are available on www.sedarplus.ca.

On Behalf of the Board of Directors, Rektron Group Inc.
Ricardo Phielix
Chief Executive Officer

FOR FURTHER INFORMATION CONTACT:

Email: [email protected]
Phone: +1 (289) 482-0744
Web: https://www.rektrongroup.com/

About the Company
The Company is the holding and parent company of Rektron AQ Limited, which is the holding and parent company of DL Hudson Limited. DL Hudson Limited is the trading arm of a group of companies, of which there are several subsidiaries that support the group's global commodity trading operations. The Company is headquartered in Vancouver, BC, while Rektron AQ Limited is headquartered in London, UK.
The Company focuses on maintaining an experienced team of management and traders, extensive geographical and product diversification, trading and logistical expertise, and financial and risk management. The team at the Group is composed of energy and metals traders, City of London and Wall Street bankers. The trading expertise includes principal energy and metals products, particularly ferrous and nonferrous metals, Energy Transition Commodities ("ETC"), recycled metals and crude and Euro VI-compliant refined oil products. The Company transacts across all compliant markets following the international trade regulations and guidelines.

FORWARD‐LOOKING STATEMENTS

This news release contains forward‐looking statements and forward‐looking information within the meaning of Canadian securities legislation (collectively, "forward‐looking statements") that relate to Rektron's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward‐looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward‐looking statements. No assurance can be given that these expectations will prove to be correct and such forward‐looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.

Forward‐looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Rektron's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward‐looking statements. Such risks and uncertainties include, but are not limited to the other factors set forth under "Caution Regarding Forward-Looking Statements" and "Risk Factors" in the Company's final prospectus dated March 4, 2024 and as amended on June 28, 2024 and August 12, 2024. Rektron undertakes no obligation to update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Rektron to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward‐looking statement. Any forward‐looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.

No securities regulatory authority has either approved or disapproved of the contents of this news release.

Contact Information

Ricardo Phielix
CEO
[email protected]
+1 (289) 482-0744

SOURCE: Rektron Group Inc.

Source: Rektron Group Inc.