Xineoh Announces Application to Cease to be a Reporting Issuer

VANCOUVER, British Columbia, May 11, 2020 (GLOBE NEWSWIRE) — Xineoh Technologies Inc. ("Xineoh" or the "Company") announces that it has applied to the British Columbia Securities Commission (the "BCSC"), as its principal Canadian regulator, for a decision deeming it to have ceased to be a reporting issuer in British Columbia and Alberta.

If the requested decision is made by the BCSC, Xineoh will no longer be a reporting issuer in any jurisdiction of Canada and, as a result, will no longer be required to file financial statements and other continuous disclosure documents with Canadian securities regulators. In addition, there will be resale restrictions on the securities of the Company that have been issued to securityholders pursuant to certain prospectus exemptions. Securityholders resident in Canada are advised to seek Canadian legal advice prior to any resale of their common shares of the Company.

Xineoh will continue to be subject to corporate law requirements under the Business Corporations Act (British Columbia) to prepare and distribute audited annual financial statements and hold annual meetings of shareholders. If the application is granted, Xineoh's regulatory compliance costs will be significantly reduced, allowing it to apply more funds towards the development of its platform for predicting consumer behavior with AI.

Any securityholders seeking to provide comments or objections with respect to this application should submit them on or before June 11, 2020 by email to Xineoh's Corporate Secretary at spaine@kingandbay.com or by mail/courier to Attention: Corporate Secretary, Xineoh Technologies Inc., 1240 "" 1140 West Pender Street, Vancouver, B.C. V6E 4G1.

About Xineoh Technologies Inc.

Founded in 2014, Xineoh offers a platform for predicting consumer behavior with AI. We pride ourselves in helping our clients out–predict their competition.

For more information on Xineoh, please visit our website at https://www.xineoh.com/.

ON BEHALF OF THE BOARD


“Mark J. Morabito”

Chairman

For more information, please contact:

Carlo Valente, Chief Financial Officer
604–681–8030

Cautionary Note Regarding Forward–Looking Information
This news release discusses items that may constitute forward–looking statements within the meaning of applicable securities laws and that involve risks and uncertainties. Such statements include those with respect to the future prospects and strategy of the Company and the performance of its technology. Although the Company believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in such forward–looking statements are based on reasonable assumptions, they can give no assurances that those expectations will be achieved, and actual results may differ materially from those contemplated in the forward–looking statements and information. Such assumptions, which may prove incorrect, include the following: (i) the Company will succeed in obtaining any necessary future financing to fund its ongoing operations, (ii) no material obstacles, technical or otherwise, will hinder the Company's operations, and (iii) the Company will be able to implement its business plans in a profitable manner. Factors that could cause actual results to differ materially from expectations include (i) the Company's failure to make effective use of its available funds, (ii) the failure of the Company's commercialization strategy for technical, logistical, labour–relations or other reasons, (iii) an increase in the Company's operating costs above what is necessary to sustain its operations, (iv) cybersecurity issues, labour disputes or the materialization of similar risks, (v) a deterioration in capital market conditions that prevents the Company from raising the funds that it requires on a timely basis, and (vi) generally, an inability of the Company to develop and implement a successful business plan for any reason. These factors and others are more fully discussed in the Company's filings with Canadian securities regulatory authorities available at www.sedar.com. Forward–looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertake no obligation to update forward–looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward–looking statements.

NGOs – with Local Groups in the Lead – are on COVID-19 Frontlines

Credit: Oxfam America

By Abby Maxman
BOSTON, USA, May 11 2020 – NGOs, at the international, national – and most of all local – level are on the frontlines every day.

I just heard from Oxfam staff in Bangladesh, that when asked whether they were scared to continue our response with the Rohingya communities in Cox’s Bazar, they replied: “They are now my relatives. I care about them — and this is the time they need us most.’”

These people – and those that they and others are supporting around the globe – are at the heart of this crisis and response.

As we talk about global figures and strategies, we must remember we are talking about parents who must decide whether they should stay home and practice social distancing or go to work to earn and buy food so their children won’t go hungry; women who constitute 70% of the workers in the health and social sector globally; people with disabilities and their carers; those who are already far from home or caught in conflict; people who don’t know what information to believe and follow, as rumours swirl.

Looking more broadly, we see that the COVID-19 crisis is exposing our broken and unprepared system, and it is also testing our values as a global community. COVID-19 is adding new and exacerbating existing threats of conflict, displacement, gender-based violence, climate change, hunger and inequality, and too many are being forced to respond without the proper resources – simple things like clean water, soap, health care and shelter. We must be creative and nimble to adapt our response in this new reality.

Most vulnerable communities

We know too well that when crisis hits, women, gender diverse persons, people with disabilities and their carers, the elderly, the poor, and the displaced suffer the worst impacts as existing gender, racial, economic and political inequalities are exposed.

Abby Maxman

These communities need to be at the center of our response, and we, as the international community, must listen to their needs, concerns and solutions.

Access

As we continue to ramp up our response, we must have access to the communities most in need. Likewise, COVID-19 cannot be used as an excuse to stop those greatest in need from accessing humanitarian aid.

Border closures are squeezing relief supply and procurement chains; Lockdowns and quarantines are blocking relief operations; And travel restrictions for aid workers have been put in place, disrupting their ability to work in emergency response programs.

Authorities should absolutely take precautions to keep communities safe, but we need to work at all levels to also ensure life-saving aid can still get through and people’s rights are upheld.

Local and national NGOs are on the frontline of the COVID-19 response, and communities’ access to the essential services and lifesaving assistance they provide must be protected. We also know that with effective community engagement, we can gain better and more effective access to communities.

Humanitarian NGOs and partners are adapting our approaches to continue vital humanitarian support while fulfilling our obligation to “do no harm.”

This adaptive approach, and our experience of ‘safe programming,’ shifting to remote management where possible; and scaling back some operations where necessary—will all be crucial as COVID-19 restrictions continue to amplify protection concerns and risk of sexual exploitation and abuse.

Funding

To mount an effective response, we must draw on our collective experience, but this crisis also offers an opportunity to change the way we work, including setting up new funding mechanisms to allow our system to leverage the complementary roles we all play in a humanitarian response.

Overall, NGOs urgently need funding that is flexible, adaptive, and aligned with Grand Bargain commitments. Our work is well underway, but more is needed to get resources to the frontlines.

We need to better resource country based pooled funds, which are crucial for national and local NGOs. Now more than ever, donors must support flexible mechanisms to increase funding flows to NGO partners.

Next Steps

In closing, the international community needs to come together to battle this pandemic in an inclusive and a responsive way that puts communities at the heart of solutions. Even while we respond in our own communities, we must see and act beyond borders if we are ever to fully control this pandemic.

The planning and response to COVID-19 need to be directly inclusive of local and national NGOs, women’s rights organizations, and refugee-led organizations leaders. We must address this new threat, while still responding to other pressing needs for a holistic response.
This means continuing our response to the looming hunger crisis, maintaining access to humanitarian aid, and supporting existing services including sexual and reproductive health and gender-based violence services.

We need to ensure humanitarian access is protected to reach the most vulnerable.

And funding needs to be quickly mobilized through multiple channels to reach NGOs and must be flexible both between needs and countries.

This much is clear: We cannot address this crisis for some and not others. We cannot do it alone. The virus can affect anyone but disproportionately affects the most marginalized. It is our collective responsibility to ensure that our global response includes everyone.

We owe it to those dedicated staff and their honorary “relatives” in Cox’s Bazar, and all those like them around the globe, to get this right.

This article was adapted from Abby Maxman’s comments as the NGO representative at the UN’s Launch of the Updated COVID-19 Global Humanitarian Response Plan on May 7, 2020.

 


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