Angel Wing Metals Announces Refiling of its Restated Q1 and Q2 2022 Financial Statements
Angel Wing Metals Announces Refiling of its
Restated Q1 and Q2 2022 Financial Statements
TSXV: AWM
WWW.ANGELWINGMETALS.COM
Toronto
,
Nov. 2, 2022
/CNW/ -
Angel Wing Metals Inc.
(TSXV: AWM) ("
Angel Wing Metals
" or
the "
Company
") announces the filing of its restated unaudited condensed interim financial
statements for the periods ending
March 31, 2022
and
June 30, 2022
(the "Restated Financial
Statements"), to account for the change in accounting for the acquisition of Lago de Oro Resources
S.A. de C.V. ("LOM") and its El Grande Project ("El Grande" or "the Project") announced on
March
30, 2022
. The Restated Financial Statements were prepared following a continuous disclosure
review by the Staff of the Albert Securities Commission (the "ASC") of the Company's disclosure
records.
Following the acquisition of LOM, the Company accounted for the transaction as an investment.
Upon further review, the Company in consultation with the ASC determined that the acquisition of
LOM should be accounted for as an asset acquisition as more fully described in the notes to the
Company's Restated Financial Statements. Accordingly, the expenses of LOM have been
incorporated into the consolidated financials.
Angel Wing Metals has therefore restated its unaudited condensed interim financial statements for
the periods ending
March 31, 2022
and
June 30, 2022
as well as the associated management's
discussion and analysis.
ABOUT ANGEL WING METALS
Angel Wing Metals (TSXV: AWM) is focused on the exploration and development of its portfolio of
precious metals properties in
Mexico
and
Canada
. The Company's flagship El Grande gold project
covers 550 square kilometers in the southern extension of the prolific Sierra Madre Occidental gold-
silver belt in the state of
Nayarit, Mexico
.
The Company also owns two early-stage gold exploration projects in
Northwestern Ontario
, in which
the Company is engaged in ongoing exploration. The Winora Project is located near Lingman lake,
325 km north of
Red Lake
and consists of 17 patented mining claims in that are estimated to be
within
500 m
and on strike with the historic Lingman Lake gold deposit. The Quartz Lake Project is
located 50km east of the prolific
Red Lake
district and demonstrates many similar geological
features of other successful exploration plays in the region.
Angel Wing Metals is committed to sustainable and responsible exploration and business activities in
line with industry best practices, supportive of all stakeholders, including the local communities in
which the Company operates.
For more information, please visit the Company's website at
www.angelwingmetals.com
.
ON BEHALF OF THE BOARD OF ANGEL WING METALS INC
.
"Bryan Wilson"
President & CEO
Email:
Neither 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.
SOURCE
Angel Wing Metals Inc.
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For further information:
Katherine Pryde, Investor Relations, Tel: 646-354-9375, Email:
CO: Angel Wing Metals Inc.
CNW 20:04e 02-NOV-22