Power Group Announces Delay in Filing Annual Financials Caused by COVID-19
Power Group Announces Delay in Filing Annual Financials
Caused by COVID-19
NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA
Toronto, ON., May 22, 2020 – Power Group Projects Corp. (“Power Group” or the “Company”)
(TSXV: PGP) announces that the Company will invoke the British Columbia Securities
Commission (the “ BCSC”) BC Instrument 51-515 (“BCI 51-515”) extending deadlines to file
financial statements and Management Discussion and Analysis (“ MD&A”). Pursuant to BCI 51-
515, the Company is relying on the relief therein for its audited financial statements, for the year
end January 31, 2020, as required by Section 4.2 of National Instrument 51 -102 and the related
MD&A as required by section 5.1(2) of National Instrument 51-102.
The Company estimates that the audited financial statements and its MD&A will be filed no later
than July 14, 2020.
Until the Co mpany has filed and announced the required Financial Statements and MD&A, all
management and other insiders are subject to the Company’s share trading and black -out policy
that reflects the principals in section 9 of National Policy 11 -207 Failure -to-File Cease Trade
Orders and Revocations in Multiple Jurisdictions.
There have been no material business developments since the date of the interim financial states
for the nine-month period ended October 31, 2019 that were filed on December 30, 2019.
ON BEHALF OF THE BOARD OF DIRECTORS
Aleem Nathwani
Chief Executive Officer and Chairman
(604) 290-7073
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
CAUTIONARY STATEMENT:
The information contained herein contains "forward -looking statements" within the meaning of applicable secu rities legislation.
Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and
estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, pla ns, projections,
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objectives, assumptions or future events or performance are not statements of historical fact and may be "forward -looking
statements.
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Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ
from those reflected in the forward -looking statements, including, without limitation: risks related to failure to obtain adequate
financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks
associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental
regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the
uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of
mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs
and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining
results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations;
and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Compa ny's
disclosure record. Should one or more of these ri sks and uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described in forward -looking statements. Investors are cautioned against
attributing undue certainty to forward-looking statements. These forward looking statements are made as of the date hereof and the
Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results
could differ materially from the Company's expectations or projections.