NATCHEZ, Miss., Sept. 24, 2020 /PRNewswire/ -- KFG Resources Ltd. ("KFG" or the "Company") provides an update on the status of the filing of: (i) its annual financial statements and accompanying management's discussion and analysis for the year ended April 30, 2020, required to be filed pursuant to sections 4.2 and 5.1(2) of National Instrument 51-102 – Continuous Disclosure Obligations; and (ii) its reserves data and other oil and gas information, required to be filed pursuant to section 2.1 of National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (collectively, the "Annual Filings").
As previously announced on August 24, 2020, the Company is relying on the exemption provided in BC Instrument 51-517 – Temporary Exemption from Certain Corporate Finance Requirements with Deadlines during the Period from June 2 to August 31, 2020 and the equivalent substantively harmonized temporary exemption in Alberta, to postpone the filing of its Annual Filings.
The Company continues to work diligently and expeditiously with its auditors to file the Annual Filings on or before October 12, 2020.
The Company confirms that management and other insiders remain subject to an insider trading black-out policy that reflects the principles in section 9 of National Policy 11-207 - Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.
The Company confirms that there have been no material business developments since August 24, 2020.
Cautionary statement regarding forward–looking information
This news release contains 'forward-looking statements' within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: expects, plans, anticipates, believes, intends, estimates, projects, assumes, potential and similar expressions. Forward-looking statements also include reference to events or conditions that will, would, may, could or should occur, including, without limitation, statements related to when the Company expects to file its Annual Filings. These forward-looking statements are necessarily based upon a number of estimates and assumptions that, while based on management's expectations and considered reasonable at the time they are made, are inherently subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including those described in the Company's public disclosure documents on SEDAR at www.sedar.com. As a result, readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this release. Unless required by law, KFG has no intention to and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE KFG Resources Ltd.