Champion Bear Announces Delay in Filing Certain Continuous Disclosure Documents
Champion Bear Announces Delay in Filing Certain Continuous Disclosure
Documents
CALGARY, Alberta, April 29, 2020 -- Champion Bear Resources Ltd. (TSXV: CBA-V) ("Champion Bear " or the
"Company") announces that due to circumstances created by the COVID-19 pandemic, it is relying on Blanket Order 51-517
– Temporary Exemption from Certain Corporate Finance Requirements of the Alberta Securities Commission (" ASC 51-517")
(and similar exemptions provided by the British Columbia and Ontario Securities Commissions), to postpone the filing of the
certain continuous disclosure documents required by National Instrument 51-102 – Continuous Disclosure Documents (" NI 51-
102"). In particular, the Company will be relying on the temporary exemption pursuant to ASC 51-517 in respect to 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 the Company’s financial year end as required by section 4.2(b) of NI 51-102;
• the requirement to file interim financial statements for the three month period ended March 31, 2020 (the "Interim
Financial Statements ") within 60 days of the Company’s first quarter as required by section 4.4(b) of NI 51-102;
• the requirement to file management discussion and analysis (the " Annual MD&A") for the period covered by the Annual
Financial Statements within 120 days of the Company’s financial year end as required by section 5.1(2) of NI 51-102;
• the requirement to file management discussion and analysis (the " Interim MD&A") for the period covered by the Interim
Financial Statements within 60 days of the Company’s first quarter as required by section 5.1(2) of NI 51-102;
• the requirement to file certifications of the Annual Financial Statements (the " Certificates" and together with the Annual
Financial Statements, the " Annual Filings") pursuant to section 4.1 of National Instrument 52-109; and
• the requirement to file certifications of the Interim Financial Statements (the " Certificates" and together with the Interim
Financial Statements, the " Interim Filings ") pursuant to section 5.1 of National Instrument 52-109.
The Company is continuing to work diligently and expeditiously with its auditors to file the Annual Filings and Interim Filings
together on or before June 12, 2020. In the interim, management and other insiders of the Company 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.
The Company 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 Champion Bear press releases
and in particular, the April 22, 2020 press release relating to the completion of the settlement of an aggregate of $528,445.97
of outstanding debt to eight creditors of the Company in exchange for the issuance of an aggregate of 3,522,972 common
shares of the Company at a deemed price of $0.15 per share.
About Champion Bear
Champion Bear is a mineral exploration company focused exclusively on the historically prospective regions of Ontario. The
Company's primary targets are platinum group metals, precious metals, and polymetallic base metals deposits. Champion
Bear's aim is to create shareholder value through selective property acquisition followed by focused exploration emphasizing
drilling. The Company has assembled a large land position in the Dryden and Sudbury areas, totaling over 16,000 hectares.
Additional information about Champion Bear can be found on the Company's website at www.championbear.com and on
SEDAR at www.sedar.com. For further information, please contact: Richard D. Kantor, Chairman and President of Champion
Bear at phone: (403) 229-9522.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN
POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF
THIS RELEASE.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation including
statements relating to the timing for the filing of the Annual Filings and Interim Filings. Forward-looking statements are
necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and
unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from
those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events, or
developments that the Company believes, expects or anticipates will or may occur are forward-looking information, including
statements regarding the potential development of resources and drilling plans which may or may not occur. Forward-looking
statements and information contained herein are based on certain factors and assumptions regarding, among other things, the
ability to complete the Annual Filings and Interim Filings; the market price of the Company's securities, metal prices,
exchange rates, taxation, the estimation, timing and amount of future exploration and development, capital and operating
costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes, litigation risks,
failure of plant, equipment or processes to operate as anticipated, accidents, labour disputes, claims and limitations on
insurance coverage and other risks of the mining industry, changes in national and local government regulation of mining
operations, and regulations and other matters including the COVID-19 pandemic. There can be no assurance that such
statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any
intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events
or otherwise, except as required by law.