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Plank Ventures Ltd. Regulatory Filings 2021

Mar 11, 2021

47753_rns_2021-03-10_526b7349-1adc-4383-8550-6f396ddfa243.pdf

Regulatory Filings

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#1080 – 789 West Pender Street, Vancouver, B.C. V6C 1H2

PLANK VENTURES LTD.

Plank Announces Filing of Amended and Restated Financial Statements

Vancouver, B.C. – March 10, 2021. Plank Ventures Ltd. (“Plank” or the “Company”) announced today that it has filed amended and restated interim financial statements, together in each case with an amended and restated corresponding management’s discussion and analysis (collectively, the “ Amended Interim Filings ”) for three-month period ended October 31, 2020 (the “ Financial Period ”) to correct accounting errors identified below.

The Company’s auditor Dale Matheson Carr-Hilton LaBonte LLP (“ DMCL ”) upon its review of the Company’s original financial statements for the Financial Period, at the request of the Company, identified an error in the accounting for the October 2020 purchase of 777,777 Series B Convertible Preferred Shares of Votigo Inc. The correction of this error resulted in an increase to non-controlling interest of $161,893 and a decrease to retained earnings of $161,893. In addition, the fair value of the purchase option was reduced by $23,482 to account for the reduction it its fair value with a corresponding increase in net loss for the period. The Amended Interim Filings now rectify that error and the corresponding management’s discussion and analysis for the Financial Period was amended and to reflect the same.

The Amended Interim Filings are available under the Company’s profile on SEDAR (www.sedar.com). Each of the Amended Interim Filings replace and supersede the respective previously filed original financial statements and corresponding management’s discussion and analysis. The previously filed original financial statements and management’s discussion and analyses should be disregarded.

About Plank Ventures Ltd.

Plank is an investment company targeting investments and business opportunities in the technology arena, focusing on early-stage start-up companies that already have developed a customer and revenue base and were seeking funding for expansion.

ON BEHALF OF THE BOARD OF DIRECTORS

“Laurie Baggio” CEO and Director