Chakana Provides Bi-Weekly Status Report
NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES
NEWSWIRE SERVICES.
CHAKANA PROVIDES BI-WEEKLY STATUS REPORT
Vancouver, British Columbia (November 8, 2019) – CHAKANA COPPER CORP. (the
“Company”) (TSXV: PERU) (OTCQB: CHKKF) (FRA: 1ZX) i s providing this bi-weekly status
report of its Management Cease Trade Order in accor dance with National Policy 12-203.
Purusant to the Company’s news release on October 1 , 2019, the filing of its annual audited
financial statements for the year ended May 31, 201 9, the accompanying management’s
discussion and analysis, and the related CEO and CF O certifications (collectively, the “ Annual
Filings ”) would not be filed by the prescribed deadline of September 30, 2019.
On October 1, 2019, the British Columbia Securities Commission, as principal regulator, granted
a temporary management cease trade order (the “ MCTO ”). As previously announced, the
Company required additional time to file the Annual Filings in order for the Company to restate
certain prior year balances due to the identificati on of late payments included in the opening
balances from the prior fiscal year and additional time for the Company and its auditors to
complete its review and substantive audit procedure s of certain discrepancies in its expenditures.
Thus, the Company concluded that it would not compl ete the year-end audit within the time
period required by National Instrument 51-102. As a result of the delay in completing the Annual
Filings, the Company’s August 31, 2019 Q1 interim f inancial statements, the accompanying
management discussion and analysis and related CEO and CFO certificates (the “ Q1 Filings ”)
would not be filed by the prescribed deadline of Oc tober 30, 2019. The Company currently
anticipates that it will be in a position to file b oth the Annual Filings and Q1 Filings by or before
November, 15 2019.
Pursuant to National Policy 12-203, the Company mus t file bi-weekly default status reports in
the form of further news releases during the period of the MCTO. The Company reports that
since its news release of October 1, 2019, there ha ve been no material changes regarding the
information contained in that news release. The Com pany confirms there have been no failures
by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the
alternative information guidelines under National P olicy 12-203, and, other than the disclosure
set forth above relating to the late filing of the Annual Filing and the Q1 Filings, there has not
been, nor is there anticipated to be, any specified default subsequent to the default announced in
the Company’s news release of October 1, 2019. The Company also confirms that there is no
other material information concerning the affairs o f the Company that has not been generally
disclosed as of the date of this news release.
For further information please contact:
Michelle Borromeo, Manager – Corporate Communicatio ns
Phone: 604-715-6845
Email: [email protected]
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Reader Advisory
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking Statement Advisory: This release ma y contain forward-looking statements.
Forward-looking statements involve known and unknow n risks, uncertainties, and other factors
which may cause the actual results, performance, or achievements of the Company to be
materially different from any future results, perfo rmance, or achievements expressed or implied
by the forward-looking statements. Forward looking statements or information relates to, among
other things, the timing for preparation and filing of the Annual Filings, and the timing and
duration of the management cease trade order under National Policy 12-203. These forward-
looking statements are based on management’s curren t expectations and beliefs but given the
uncertainties, assumptions and risks, readers are c autioned not to place undue reliance on such
forward- looking statements or information. The Com pany disclaims any obligation to update, or
to publicly announce, any such statements, events or developments except as required by law.