TORONTO, June 08, 2018 (GLOBE NEWSWIRE) -- Tellza Inc. (“TELLZA” or the “Company”) (TSX:TEL) announced today that it has postponed its annual meeting of shareholders to a date to be determined.  As previously announced, the Company is addressing allegations advanced by CRA in January 2018 in connection with CRA’s proposed denial of HST Input Tax Credits (“ITCs”) claimed by Tellza in the amount of approximately $12.4 Million.  Tellza’s management believes that the allegations advanced by CRA are without merit and it intends to vigorously defend against these claims.  However, as a result of these allegations Tellza has delayed the filing of its financial disclosure for the 2017 fiscal year (the “Delayed Filings”) in order that its auditor and financial advisors may perform additional audit procedures which will substantiate the Company’s claim for the ITCs.  Once the Company is in a position to file the Delayed Filings, it will call its annual meeting of shareholders and provide the requisite notice thereof.

About TELLZA

TELLZA is a Technology and Financial Support Services company. TELLZA TECH is an ASP servicing the telecommunications market, including its own Carrier brands Phonetime and Matchcom. Through its investments in Rightway Funding and Merkez Faktoring, TELLZA facilitates secondary financings in the structured annuities market and in B2B working capital financing.  TELLZA is a public company listed on the Toronto Stock Exchange (TEL).

Caution Regarding Forward Looking Information:

This press release contains forward-looking statements, which may be identified by words like "expects", "anticipates", "plans", "intends", "indicates" or similar expressions. These statements are not a guarantee of future performance and are inherently subject to risks and uncertainties. TELLZA’s actual results could differ materially from those currently anticipated due to a number of factors set forth in reports and other documents filed by the Company with Canadian securities regulatory authorities from time to time. See www.sedar.com which contains all securities files.

Contact:

Michael Vazquez, Tellza Inc., CEO
Phone - +954-624-8143
Email: mike@tellza.com