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Midnight Sun Postpones Filing of Annual Financial Statements and MD&A Due to COVID-19

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Newsfile Corp.
·3 min read
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Vancouver, British Columbia--(Newsfile Corp. - April 28, 2020) - Midnight Sun Mining Corp. (TSXV: MMA) (the "Company" or "Midnight Sun") has postponed filing its annual financial statements and management's discussion and analysis for the year ended December 31, 2019 (the "Annual Financial Information") due to logistics and delays caused by the COVID-19 pandemic.

In response to the ongoing pandemic, securities regulatory authorities in Canada have granted a blanket exemption allowing issuers an additional 45 days to complete certain regulatory filings. The Company is relying on this exemptive relief which allows it to delay the filing of its Annual Financial Information which would otherwise be required to be filed by April 29, 2020 under sections 4.2 and 5.1(2) of National Instrument 51-102.

The Company's Annual Financial Information and associated certificates will be available for filing at the earliest opportunity, which is expected to occur on or before June 13, 2020. Until such time as these documents are filed, Midnight Sun's management and other insiders are subject to a trading blackout that reflects the principles contained in section 9 of National Policy 11-207 - Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.

There has been a material business development since the date of the last interim financial statements, which were filed on November 14, 2019. Please refer to the news release issued and filed on April 27, 2020, titled Midnight Sun Signs USD$51 Million Earn-In Agreement With Rio Tinto, copies of which are available on SEDAR at www.sedar.com or the company's website at www.midnightsunmining.com.

ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP.

Al Fabbro - Lead Director & Acting Chief Executive Officer

For Further Information Contact:

Al Fabbro
Lead Director
Tel: +1 604 351 8850

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 NEW RELEASE.

This news release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, are forward-looking statements. 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 or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, changes in market conditions, unsuccessful exploration results, changes in commodity prices, unanticipated changes in key management personnel and general economic conditions. Mining exploration and development is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/55051