Update on Filings and Completion Date
CANAMEX GOLD CORP
Suite 804-750, West Pender St
Vancouver, BC V6C 3T7
Canada
+1 604 833 4278
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CANAMEX GOLD CORP - NEWS RELEASE
Annual and Quarterly Statements – Filing Extension
Gold Forward Sale – Completion Date Extension
April 23rd, 2020 - Vancouver, Canada - Canamex Gold Corp. (the “ Company” or
“Canamex”) ( CSE: CSQ ) is providing 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 January 27th, 2020.
Annual and Quarterly Filings - 45 Day Extension
The Company is prov iding 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 December 31/2019 year end annual filing and March 31/2020 quarterly filing.
On March 18, 2020, the Canadian Securities Administrators (CSA) announced that
they will 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 December 31/2019 year end annual filing and the March
31/2020 quarterly filing; in accordance with BC Instrument 51 -515, Temporary
Exemption from Certain Corporate Finance Requirements.
Members of the Company's management and other insiders are subject to a trading
black-out 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 has
been provided in prior press releases.
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Gold Forward Sale - Completion Date Extension
The Company provides an update regarding the status of the gold forward sale
agreement (the “ Agreement”) executed with an arms -length third -party investor,
MetalStream Ltd (the “ Buyer” or “ MetalStream”), as previously announced by the
Company on January 27th, 2020. The Agreement is for total payments to the Company
of USD$ 35 Million (CAD$ 50 Million).
Under the terms of the Agreement, Canamex Resources US Inc, (the “Supplier”) 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 USD $5 Million
to be advanced to the Company on or before April 14th, 2020 (the “Completion Date”).
The Buyer and Supplier have agreed to amend the Agreement by extending this
Completion date by 90-days to July 14th, 2020; due to the current Covid -19 pandemic
response by State actors; and uncertainties associated with lifting of international and
domestic movement control orders and lockdown restrictions imposed by these States.
About Canamex
Canamex is a public listed company registered in British Columbia, Canada, trading
on the Canadian Securities Exchange (CSE:CSQ), and is engaged in pre-development
of the Bruner gold and silver project in the prolific gold jurisdiction of Nye County,
Nevada. The region is home to several producing and past-producing mines along the
Walker Lane Trend. Canamex completed a positive Preliminary Economic Assessment
(PEA) on the Bruner project in 2016. Based on additional drilling conducted on the
property, the company completed an updated PEA in 2018, which increased the
resources and improved the ec onomics of the project. Canamex is now moving the
Bruner project forward into permitting and development on the strength of this positive
updated PEA. Further information is available at https://www.canamexgold.com/
Greg Hahn, Vice President, and a Certified Professional Geologist (#7122) is the
Qualified Person under NI43 -101 responsible for preparing and reviewing the data
contained in this press release.
On Behalf of the Board
David Vincent
President and CEO
Mike Stark
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Chairman
604.833.4278
The Canadian Securities Exchange accepts no responsibility for the adequacy or accuracy of this
release.
FORWARD LOOKING INFORMATION
This news release includes certain forward-looking statements or information. All statements other than
statements of historical fact included in this release are forward-looking statements that involve various
risks and uncertainties. Forward -looking statements in this release include statements with respect to
future services to be provided to the Company, and other future plans, objectives or expectations of the
Company. There can be no assurance that such statements will prove to be accurate and actual results
and future events could differ materially from those anticipated in such statements. Important factors
that could cause actual results to differ materially from the Company's plans or expectations include the
availability of capital and financing required to continue the Company's operations; uncertainty regarding
the performance by other entities of contractu al obligations; general economic, market or business
conditions; competition and loss of key employees; regulatory changes and restrictions; timeliness of
government or regulatory approvals; and other risks detailed herein and from time to time in the fili ngs
made by the Company with securities regulators. In connection with the forward -looking information
contained in this release, the Company has made numerous assumptions. The Company expressly
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 otherwise required by applicable
securities legislation.