Smartwell Technology Announces Issuance of Failure-to-File Cease Trade Order

Vancouver, BC – [September 8, 2026] – Smartwell Technology Corp. (TSXV: SMWE) (the “Company”) announces that the British Columbia Securities Commission (the “BCSC”) has issued a failure-to-file cease trade order (the “FFCTO”) against the Company pursuant to National Policy 11-207 – Failure to File Cease Trade Orders and Revocations in Multiple Jurisdictions. The FFCTO was issued as a result of the Company’s failure to file its unaudited interim financial statements for the period ended June 30, 2026, the related management’s discussion and analysis, and Form 52-109FV2 CEO and CFO certifications of interim filings for that period (collectively, the “Required Filings”) by the August 31, 2026 filing deadline (the “Filing Deadline”).

The FFCTO prohibits trading in any securities of the Company by any person in each jurisdiction in Canada for as long as the FFCTO remains in effect. However, the FFCTO provides an exception for a beneficial securityholder of the Company who is not, and was not as of September 4, 2026, an insider or control person of the Company, and who sells securities of the Company acquired before September 4, 2026, provided that both of the following conditions are satisfied: (i) the sale is made through a “foreign organized regulated market,” as defined in section 1.1 of the Universal Market Integrity Rules of the Canadian Investment Regulatory Organization; and (ii) the sale is made through an investment dealer registered in a jurisdiction of Canada in accordance with applicable securities legislation.

The failure to file the Required Filings by the Filing Deadline is primarily attributable to the additional time required to finalize the Company’s consolidated financial statements following the closing of the Company’s previously announced qualifying transaction on June 22, 2026. Following completion of the transaction, the Company was required to integrate the financial reporting of the Company and its various subsidiaries and establish and apply the appropriate accounting treatment and presentation for the consolidated group.

Another significant factor was the change in the fiscal year-ends of the various subsidiaries from December 31 to March 31. This change required additional work to align the financial reporting periods of the Company and its subsidiaries and prepare the required comparative financial information on a consistent basis. These requirements added complexity and extended the time needed to prepare and consolidate the financial statements and related disclosures.

The reporting process was also complicated by the transition to new auditors, the coordination of accounting and financial information across multiple jurisdictions in which the Company and its subsidiaries operate, and staffing changes during the Company’s post-transaction transition. In addition, the Company was required to reconcile accounting approaches and financial information between the Company and its subsidiaries and address additional accounting and transactional disclosure requirements arising from the qualifying transaction. These matters required additional time for the Company and its accounting personnel to obtain, reconcile and prepare the necessary financial information and for the Company’s auditors to complete their review procedures.

As a result of these post-qualifying-transaction integration and reporting requirements, the changes in the subsidiaries’ fiscal year-ends, the additional comparative financial statement requirements, staffing changes, and the coordination required among the Company, its subsidiaries, accounting personnel and auditors, completion of the Required Filings has been delayed beyond the Filing Deadline.

The Company is not subject to any insolvency proceedings and confirms that there is no other material information relating to its affairs that has not been generally disclosed. The Company is working diligently with its accounting personnel and auditors to resolve the remaining matters and complete the Required Filings as soon as practicable.

The FFCTO will remain in effect until the Required Filings have been filed. If the Required Filings are made within 90 days of the date of the FFCTO, such filings would constitute an application to revoke the FFCTO. If the Required Filings are not made within 90 days of the date of the FFCTO, the Company will apply to the BCSC to revoke the FFCTO.

The Company will provide updates as further information relating to the Required Filings becomes available.

不列颠哥伦比亚省温哥华讯 ——2026 年 9 月 8 日，Smartwell Technology Corp.（简称 “公司” 或 Smartwell，TSXV：SMWE）公告：因未能在 2026 年 8 月 31 日申报截止日前提交截至 2026 年 6 月 30 日的未经审计中期财务报表、配套管理层讨论与分析报告，以及 52-109FV2 表格首席执行官、首席财务官中期申报合规认证文件（以上统称 “法定申报文件”），不列颠哥伦比亚省证券委员会（BCSC）依据《国家政策 11-207：多辖区逾期申报停牌令及撤销规则》，对公司下发逾期申报停牌禁令（FFCTO）。

该停牌禁令生效期间，加拿大各辖区内任何主体均不得交易公司全部证券，但存在例外情形：若公司实益持股人截至 2026 年 9 月 4 日及当下均不属于公司内部知情人或实际控制人，且所持股份系 2026 年 9 月 4 日前取得，同时满足以下两项条件，可出售所持股份：（一）交易通过加拿大投资业监管组织《通用市场诚信规则》第 1.1 条定义的境外合规监管交易所完成；（二）交易通过加拿大任一辖区持牌证券经纪商、依照当地证券法操作。

公司未能在截止日前完成法定申报文件提交，核心原因是 2026 年 6 月 22 日合格交易交割完成后，合并财务报表编制工作需额外耗时。交易完成后，公司需整合母公司及多家子公司财务数据，为合并集团统一制定并执行合规会计核算与报表列报规则。

另一重大延误因素为各子公司财年末由 12 月 31 日变更为 3 月 31 日。财年调整需要大量工作统一母公司与子公司财务报告期间，并基于统一口径编制对比财务数据，大幅提升合并报表及附注披露的编制难度，拉长工作周期。

此外，更换审计机构、统筹母公司与多国经营子公司跨区域财务会计数据、并购过渡期人员变动，均进一步拉长财报编制流程。同时公司需统一母子公司会计处理口径、核对财务数据，并补充披露本次合格交易衍生的额外会计事项与交易信息。上述工作均要求公司财务团队花费更多时间收集、核对、整理财务资料，也需要新任审计师完成完整审阅流程。

综合并购后集团整合与财报编制要求、子公司财年变更、对比报表编制需求、人员调整，以及母子公司、财务团队、审计机构多方协同工作量，法定申报文件编制进度超出原定截止期限。

公司目前未卷入任何破产清算程序，并确认不存在尚未对外公开的重大经营事项。公司正联合财务人员与审计师全力推进剩余收尾工作，争取尽快完成全套法定申报文件提交。

该停牌禁令将持续生效，直至公司提交全部法定申报文件。若在禁令出具之日起 90 日内完成申报，提交文件即自动视作撤销禁令申请；若 90 日内仍未完成申报，公司将另行向 BCSC 提交禁令撤销申请。

后续公司将在法定申报文件取得新进展时持续对外公告更新。