Canamex delays filing 2019, Q1 2020 financial results

Apr 23, 2020

2020-04-23 10:53 ET – News Release

Mr. David Vincent reports

ANNUAL AND QUARTERLY STATEMENTS – FILING EXTENSION GOLD FORWARD SALE – COMPLETION DATE EXTENSION

Canamex Gold Corp. has provided an update on the status of its quarterly and annual filings, and an update regarding the status of its gold forward sale agreement announced by the company on Jan. 27, 2020.

Annual and quarterly filings — 45-day extension

The company is providing an update on the status of the filing of its quarterly and annual financial statements, the accompanying management’s discussion and analysis, and related chief executive officer and chief financial officer certifications for the Dec. 31, 2019, year-end annual filing and March 31, 2020, quarterly filing.

On March 18, 2020, the Canadian Securities Administrators announced that it would provide issuers with a 45-day filing extension for filings required on or before June 1, 2020, to allow issuers the time needed to focus on the many other business and financial reporting implications of COVID-19. The company will rely on this exemption with respect to the Dec. 31, 2019, year-end annual filing and the March 31, 2020, quarterly filing, in accordance with British Columbia Instrument 51-515 — Temporary Exemption from Certain Corporate Finance Requirements. Members of the company’s management and other insiders are subject to a trading blackout policy that reflects the principles in Section 9 of National Policy 11-207. The company expects to file the documents on or before the end of the available 45-day extension periods for the annual and quarterly filing due dates. Updates on material business developments since the filing of the company’s interim financial reports have been provided in prior press releases.

Gold forward sale — completion date extension

The company has provided an update regarding the status of the gold forward sale agreement executed with an arm’s-length third party investor, MetalStream Ltd., as previously announced by the company on Jan. 27, 2020. The agreement is for total payments to the company of $35-million (U.S.) ($50-Million).

Under the terms of the agreement, Canamex Resources US Inc., being a wholly owned subsidiary of the company, has agreed to sell to the buyer a gold metal stream of 50,000 ounces of gold, with the first cash payment of $5-million (U.S.) to be advanced to the company on or before April 14, 2020.

The buyer and supplier have agreed to amend the agreement by extending this completion date by 90 days to July 14, 2020, due to the current COVID-19 pandemic response by state actors, and uncertainties associated with the lifting of international and domestic movement control orders and lockdown restrictions imposed by these states.

About Canamex Gold Corp.

Canamex is engaged in predevelopment of the Bruner gold and silver project in the prolific gold jurisdiction of Nye county, Nevada.

We seek Safe Harbor.

https://www.canamexgold.com/