ApartmentLove Provides Bi-Weekly MCTO Status Update

TORONTO, May 17, 2024 /CNW/ - ApartmentLove Inc. (CSE: APLV) ("ApartmentLove" or the "Company") is providing this bi-weekly update on the status of the management cease trade order issued on May 9, 2024 (the "MCTO"), by its principal regulator, the Alberta Securities Commission, under National Policy 12-203 - Management Cease Trade Orders ("NP 12-203"), after the Company's previous announcement on May 1, 2024 (the "Default Announcement"), that it expected to be unable to file its audited annual financial statements for the year ended December 31, 2023 and associated management's discussion and analysis and certifications, along with its annual information financial form for the year ended December 31, 2023 (collectively, the "Annual Filings").

The Company had anticipated filing the Annual Filings by May 17, 2024; however, the auditor of the Company has advised that it will not be in a position to complete the audit by May 17, 2024, and has advised that it requires additional time to complete the audit. As a result, the Company now anticipates filing the Annual Filings on or before May 31, 2024.

Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition: (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Annual Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Annual Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.

Disclaimer and Reader Advisory

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release. Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the control of the Company. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Forward looking statements include but are not limited to the successful filing of the Required Filings by May 31, 2024, and in any event within two months after the Filing Deadline. The Company assumes no obligation to update forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.

Risk factors can also be found in the Company's continuous disclosure documents which have been filed on SEDAR+ and can be accessed at www.sedarplus.com. Because of the risks, uncertainties, and assumptions contained herein, investors should not place any undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

ApartmentLove^® | the feeling of home

SOURCE ApartmentLove Inc.

For more information visit ApartmentLove's website at https://apartmentlove.com/investors, ApartmentLove's profile on SEDAR+ at www.sedarplus.com, or contact: Trevor Davidson, President & CEO, ApartmentLove Inc., [email protected], [phone]