Bankers Provides Update ON Filing of Its Interim Financial Statements, Postponed Due to COVID-19 Pandemic and Resignation of a Subsidary Director
Bankers Cobalt Corp |Suite 1080, 789 West Pender Street, Vancouver, B.C., Canada, V6C 1H2 1
BANKERS PROVIDES UPDATE ON FILING OF ITS INTERIM FINANCIAL
STATEMENTS, POSTPONED DUE TO COVID-19 PANDEMIC AND RESIGNATION
OF A SUBSIDARY DIRECTOR
Vancouver, British Columbia - (May 29, 2020) – Bankers Cobalt Corp. (TSXV: BANC; FSE:
BC21; OTCQB: NDEND) (the “Corporation” or “Bankers”) announces that further to its news
releases dated April 24, 2020, and May 22, 2020, announcing Corporation’s intention to file its
annual financial statements and management’s discussion and analysis for the financial year ended
December 31, 2019 (the “Annual Filings”) postponed due to logistics and delays caused by the
outbreak of coronavirus (COVID-19), on or before June 15, 2020, Bankers intends to file its
interim financial statements after June 1, 2020, being the due date for such filing.
The Corporation will be relying on Temporary Exemption from Certain Corporate Finance
Requirements (“BCI 51-515”), enacted by the British Columbia Securities Commission
(“BCSC”), providing relief consisting of a 45-day extension for certain regulatory filings required
to be made on or prior to June 1, 2020 as a result of the COVID-19 pandemic.
Bankers will be relying on the temporary exemption pursuant to BCI 51-515 with respect to the
following:
- the requirement to file interim financial report for the period ended March 31, 2020 ("Financial
Statements") within 60 days after the end of the interim period as required by section 4.4(b) of
National Instrument 51-102 Continuous Disclosure Obligations (“NI 51-102”);
- the requirement to file management’s discussion and analysis for the period ended March 31,
2020 ("MD&A") within 60 days after the end of the interim period as required by section 5.1(2)
of NI 51-102; and
- the requirement to file certifications of interim filings (together with the Financial Statements
and MD&A, the “Interim Filings”) pursuant to section 5.1 of National Instrument 52-109
Certification of Disclosure in Issuers’ Annual and Interim Filings and Section 4.4(b) of NI 51-
102.
The Corporation’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 Failure-to-File Cease Trade Orders
and Revocations in Multiple Jurisdictions until both the Annual and Interim Filings have been
completed.
The Corporation continues to work diligently with its auditors and plans to complete the Annual
Filings on or before June 15, 2020 and plans to complete the Interim Filings on or before July 16,
2020.
The Corporation confirms that there have been no material business developments since the date
of filing of its interim financial statements for the period ended September 30, 2019, other than
those disclosed in this news release and news releases dated April 24, May 19, and May 22, 2020.
Resignation of Director of DRC Subsidiary
Kevin Torudag has resigned as a Director of the Corporations wholly owned DRC subsidiary. He
will remain as a consultant to the Corporation.
Bankers Cobalt Corp |Suite 1080, 789 West Pender Street, Vancouver, B.C., Canada, V6C 1H2 2
About Bankers
Bankers is a natural resource company with a primary focus on the acquisition, exploration,
development and operation of cobalt and copper mineral projects in the DRC. Bankers holds rights
to nine mineral projects strategically located in the southern DRC CopperBelt. Bankers has the
intention to acquire interests in additional concessions or relinquish concessions in the normal
course of business. Bankers has an experienced management team in the southern CopperBelt of
the DRC.
ON BEHALF OF THE BOARD OF BANKERS COBALT CORP.
“Stephen Barley”
Chairman & CEO
For further information:
Phone: (604-834-2968)
Email: [email protected]
Website: www.bankerscobalt.com
Reader Advisory
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.
This news release contains “forward-looking information” within the meaning of applicable
securities laws including, without limitation, statements relating to the timing and completion of
the Annual and Interim Filings and other factors beyond the Corporations’ control. Although
the Corporation believes considering the experience of its officers and directors, current
conditions and expected future developments and other factors that have been considered
appropriate, that the expectations reflected in this forward-looking information are reasonable,
undue reliance should not be placed on them as the Corporation can give no assurance that they
will prove to be correct. Actual results and developments may differ materially from those
contemplated by these statements. The statements in this press release are made as of the date
of this release. The Corporation undertakes no obligation to comment on analyses, expectations
or statements made by third parties in respect of the Corporation its securities, or its financial
or operating results.