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TUT Fitness Updates Status of Filing Annual Financial Statements and Q1 Interim Financial Statements

Vancouver, British Columbia – March 30, 2023 – TUT Fitness Group Inc. (“TUT” or the “Company”) (TSX.V:GYM) announces, further to its news release of February 1, 2023, February 16, 2023, March 2, 2023 and March 16, 2023 that the Company’s principal regulator, the British Columbia Securities Commission (the “Commission”), granted a management cease trade order (the “MCTO”) on February 1, 2023, under National Policy 12-203 Management Cease Trade Orders (“NP 12-203“).

Pursuant to the MCTO, the Chief Executive Officer and the Chief Financial Officer may not trade in securities of the Company until such time as the Company files its annual audited financial statements for the year ended September 30, 2022, management’s discussion and analysis and related certifications (collectively the “Annual Required Documents”) and its interim financial statements for the three months ended December 31, 2022, management’s discussion and analysis and related certifications (collectively the “Interim Required Documents”) and the Commission revokes the MCTO.  The MCTO does not affect the ability of shareholders to trade their securities.

The Company has now successfully completed the necessary filings for its Annual Required Documents. The Company expects to file its Interim Required Documents on or before March 31, 2023.  There is no other material information respecting the Company’s affairs that has not been generally disclosed.

The Company’s Annual Required Documents are now publicly available on SEDAR (sedar.com).

Until the Interim Required Documents have been filed, the Company intends to continue to satisfy the provisions of the alternative information guidelines specified in NP 12-203 by issuing bi-weekly default status reports in the form of further press releases for so long as the Company remains in default of the financial statement filing requirement.

TUT Fitness Group Inc.

“Robert Smith”

Robert Smith, CEO  

Contact: robs@tutfitnessgroup.com

Forward-looking Statements: This news release may contain certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical fact, that address events or developments that the Company expects to occur, are forward looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Forward-looking statements in this document include statements regarding the timing of the Company’s annual filings. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.