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Vancouver, British Columbia--(Newsfile Corp. - May 28, 2021) - Zincore Metals Inc. (TSXV: ZNC.H) ("Zincore" or the "Company") announces that following a discussion with the Company's auditors during the preparation of its March 31, 2021 interim financial statements, the Company has filed amended and restated annual financial statements and the accompanying management discussion and analysis for the year ended December 31, 2020.
As the result of information received by the Company well after the April 29, 2021 filing of its December 31, 2020 year end financial statements on SEDAR, Management identified an understatement of accounts payable of $274,813. This payable was previously recorded at a negotiated reduced amount in connection with a potential reverse takeover transaction ("RTO") with Mines and Metals Trading (Peru) PLC. (For details on the RTO, please see the Company's news releases dated January 21, August 14th and December 24th of 2019 and March 12th, April 21st, July 3rd and September 1st of 2020.) The RTO was not concluded and the applicable creditor only recently confirmed the payable amount. Accordingly, the original, higher payable amount was reinstated.
Details of the change are fully described in Note 1 and 13 of the restated audited annual financial statements as filed on SEDAR on May 28, 2021. The related management discussion and analysis for the year ended December 31, 2020 has also been amended and restated. In all other material categories, the filings of the Company remain unchanged.
Zincore is a Vancouver-based Company, with common shares which trade on the NEX Board of the TSX Venture Exchange under the symbol ZNC.H.
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.
For more information please contact:
Zincore Metals Inc.
Adam Ho, CFO, Director
Cautionary Note Regarding Forward Looking Statements
This news release contains certain forward-looking statements, Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or does not expect", "is expected", anticipates" or "does not anticipate" "plans", "estimates" or "intends" or stating that certain actions, events or results " may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements". Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements.
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