Cognetivity Neurosciences Announces Management Cease Trade Order

VANCOUVER, BC, June 1, 2022 /CNW/ - Cognetivity Neurosciences Ltd. ("Cognetivity" or the "Company") (CSE: CGN) (OTCQB: CGNSF) (FRA: 1UB), a technology company that has created a unique brain health screening platform for use in medical, commercial and consumer environments, a technology company that has created a unique brain health screening platform for use in medical, commercial and consumer environments, announces that its annual financial statements for the year ended January 31, 2022 (the "Annual Financial Filings"), including the related management discussion and analysis, and CEO and CFO certifications will not be filed by the required filing deadline of May 31, 2022 (the "Annual Financial Filing Deadline").

The Annual Financial Filings will not be filed on or before the Annual Financial Filing Deadline due to unforeseen internal delays in the completion of the Company's audit of the Annual Financial Filings. The Company is working on the steps required to complete the Annual Financial Filings. The Company confirms that there is no other material information relating to its affairs that has not been generally disclosed.

The Company is working on the steps required to complete the Annual Financial Filings and expects to be able to file the Annual Financial Filings on or before June 10, 2022. The Company will provide updates as further information relating to the Annual Financial Filings becomes available.

The Company has applied to the applicable securities regulatory authorities and received a management cease trade order ("MCTO") imposed against the Chief Executive Officer and Chief Financial Officer of the Company, precluding them from trading securities of the Company. The MCTO will be in effect until the Annual Financial Filings are filed and requires that the Annual Financial Filings be filed on or before June 10, 2022.

Until the Annual Financial Filings are filed, the Company intends to issue bi-weekly default status reports in accordance with National Policy 12-203 - Management Cease Trade Orders. The Company intends to satisfy the provisions of the Alternative Information Guidelines during the period it remains in default of the filing requirements.

About Cognetivity Neurosciences Ltd.

Cognetivity is a technology company that has created a cognitive testing platform for use in medical, commercial and consumer environments. Cognetivity's CognICA^TM uses Artificial Intelligence and machine learning techniques to help detect the earliest signs of cognitive impairment by testing the performance of large areas of the brain. The CognICA^TM is currently available for clinical use in the USA, UK and Europe, with regulatory approval for other regions planned for 2022.

For more information, please visit: www.cognetivity.com or contact: [email protected]

ON BEHALF OF THE BOARD OF DIRECTORS
"Sina Habibi"
Sina Habibi
Chief Executive Officer and Director

FORWARD-LOOKING STATEMENTS

Certain statements included in this news release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "assume" "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This news release contains forward looking statements. These forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Such statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company's forward-looking statements.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.

SOURCE Cognetivity Neurosciences Ltd

Josh Stanbury | [email protected] | 416-628-7441