AurCrest Gold Provides Update on COVID-19 and Announces Request for Extension to file Annual Financial Statements and Management’s Discussion and Analysis
Suite 3600, 22 Adelaide Street West, Toronto, Ontario M5H 4E3 · Tel: (807) 737-5353
AurCrest Gold Provides Update on COVID-19 and Announces
Request for Extension to file Annual Financial Statements and
Management’s Discussion and Analysis
NEWS RELEASE FOR IMMEDIATE RELEASE
APRIL 29, 2020 TSXV Symbol: AGO
Toronto, Ontario April 29, 2020 - AurCrest Gold Inc. (the “Company” or “AurCrest”) (TSX-V: AGO)
wishes to provide an update on the coronavirus pandemic (“COVID-19”) as it affects the Company and
the status of the filing of its annual financial statements and accompanying management’s discussion and
analysis, and related CEO and CFO certifications, for the financial year ended December 31, 2019.
The lockdown resulting from the outbreak of COVID-19 has created unprecedented disruptions in the
global economy and stock markets. AurCrest’s Board of Directors and Management are taking all
necessary precautions to ensure the health of its employees and consultants and to manage the short-term
challenges to its business.
On March 23, 2020, the Ontario Securities Commission (“OSC”) enacted Ontario Instrument 51-502
Temporary Exemption from Certain Corporate Finance Requirements (the “OSC Temporary
Exemption”) providing a 45-day extension for certain periodic filings required to be made on or prior to
June 1, 2020 as a result of COVID-19. AurCrest will be relying on this extension period due to delays
experienced as result of COVID-19.
AurCrest will be relying on the OSC Temporary Exemption in respect of the following provisions:
• the requirement to file audited financial statements for the year ended December 31, 2019 (the
“Annual Financial Statements ”) within 120 days of AurCrest’s financial year end as required
by section 4.2(b) of National Instrument 51-102 (“NI 51-102”);
• the requirement to file management’s discussion and analysis (the “Annual MD&A ”) for the
period covered by the Annual Financial Statements within 120 days of AurCrest’s financial year
end as required by section 5.1(2) of NI 51-102;
• the requirement to file certifications of the Annual Financial Statements (the “ Annual
Certificates” and together with the Annual Financial Statements, the “Annual Filings”) pursuant
to section 4.1 of National Instrument 52-109 (“NI 52-109”); and
• the requirement to make disclosure with respect to executive compensation not later than 140
days after AurCrest’s financial year-end as required by section 11.6 of NI 51-102.
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Suite 3600, 22 Adelaide Street West, Toronto, Ontario M5H 4E3 · Tel: (807) 737-5353
AurCrest is working diligently and expeditiously with its auditors to file the Annual Filings on or before
May 15, 2020. At this time, AurCrest does not anticipate any delays in filing its interim financial
statements for the first quarter ending March 31, 2020 (the “Interim F/S”) which are due to be filed by
May 30, 2020. In the interim, management and other insiders of AurCrest are subject to a trading black-
out policy as described, in principle, in section 9 of National Policy 11-207 Failure-to-File Cease Trade
Orders and Revocations in Multiple Jurisdictions.
AurCrest confirms that since the filing of its interim consolidated financial statements for the period
ended September 30, 2019, there have been no material business developments other than those disclosed
through press releases including the press release issued on December 13, 2019 (relating to the Emission
Reduction Benefit Management Agreement between AurCrest and the Lac Seul First Nation to develop
carbon sequestration opportunities in the First Nation’s traditional territory in Northwestern Ontario) and
the press release issued on December 24, 2019 (relating to the option of a 100% interest in the Company’s
Western Fold property to Newrange Gold Corp.).
As required by the OSC Temporary Exemption, the Company will issue further press releases at 30 day
intervals providing updates on material business developments, if any, including updates on the Annual
Filings or the Interim F/S.
About AurCrest Gold Inc.
AurCrest is a mineral exploration company focused on the acquisition, exploration, and development of
gold properties. AurCrest has a portfolio of properties in Ontario, which include the Richardson Lake and
Bridget Lake gold properties.
FOR FURTHER INFORMATION PLEASE CONTACT:
AurCrest Gold Inc.
Christopher Angeconeb Ian Brodie-Brown
President and C.E.O Director of Business Development
(807) 737-5353 (416) 844-9969
[email protected] [email protected]
Forward Looking Statement:
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and
uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future
plans and objectives of the Company are forward looking statements that involve various risks. The following are important
factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward
looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in
mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future
profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will
prove to be accurate as actual results and future events may differ materially from those anticipated in such statements.
AurCrest undertakes no obligation to update such forward-looking statements if circumstances or management’s estimates or
opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
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.