Power Group Announces Delay in Filing Interim Financials Caused by COVID-19
Power Group Announces Delay in Filing Interim Financials
Caused by COVID-19
NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA
Toronto, ON., July 3, 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 51-517 (“BCI 51-517”) extending deadlines to file
financial statements and Management Discussion and Analysis (“ MD&A”). Pursuant to BCI 51-
517, the Company is relying on the relief therein for its interim financial statements, for the interim
period ended April 30, 2020 , as required by Section 4. 4 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 interim financial statements for the interim period ended April
30, 2020 and its MD&A will be filed no later than July 31, 2020.
Until the Company has filed 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
statements 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 securities 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, plans, 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 obta in 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 possib ility 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 fluctua tions;
and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's
disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described in forw ard-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.