Santacruz Silver Announces Extension of Filing Deadline for its Annual Financial Statements and MD&A Vancouver, B.C. – Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the “Company” or “Santacruz”) announces that, as a result of delays caused by the COVID-19 pandemic, the Company will be postponing the fil
TSX.V: SCZ
FSE: 1SZ
April 27, 2020
Santacruz Silver Announces Extension of Filing Deadline
for its Annual Financial Statements and MD&A
Vancouver, B.C. – Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the “Company” or “Santacruz”) announces
that, as a result of delays caused by the COVID-19 pandemic, the Company will be postponing the filing of its
annual consolidated financial statements and accompanying management's discussion and a nalysis and
related CEO and CFO certificates for the financial year ended December 31, 2019 (collectively, the "Annual
Filings"), which are required to be filed by April 29, 2020 under National Instrument 51-102 - Continuous
Disclosure Obligations.
On March 18, 2020, the Canadian Securities Administrators (CSA) announced that they woul d provide issuers
with a 45-day extension for filings required on or before June 1, 2020, to allow issuers the time ne eded to
focus on the many other business and financial reporting implications of the COVID-19 pandemic.
The Company will rely on this exemption with respect to the Annual Filings in accorda nce with BC Instrument
51-515 –Temporary Exemption from Certain Corporate Finance Requirements ("BCI 51-515"). The Company
is continuing to work diligently and expeditiously to complete and file the Annual Filings and currently expects
to have them filed on or prior to the extended filing deadline of June 15, 2020. The Company expects to
thereafter deliver the annual financial statements before, or in conjunction with, the delivery of its management
information circular for its next annual general meeting as permitted by BCI 51-515.
Until the Annual Filings are filed, management and other insiders of the Company continue to be 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.
The Company confirms that since the filing of its condensed consolidated interim financial statements for the
period ended September 30, 2019, there have been no material business developments other than those that
have been publicly disclosed as required under applicable securities laws and stock exchange requirements.
‘signed’
Arturo Préstamo Elizondo,
President, Chief Executive Officer and Director
For further information please contact:
Arturo Prestamo
Santacruz Silver Mining Ltd.
Email: [email protected]
Telephone: (604) 569-1609
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward looking information
Certain statements contained in this news release constitute "forward-looking information" as such term is
used in applicable Canadian securities laws, including statements relating to the expected timing of filing the
Annual Filings. Forward-looking information is based on plans, expectations and estimates of management at
the date the information is provided and is subject to certain factors and assumptions. In making the forward-
looking statements included in this news release, the Company has applied several material assumptions,
including that the Company's financial condition and development plans do not change as a result of
unforeseen events, and that future metal prices and the demand and market outlook for metals will remain
stable or improve. Forward-looking information is subject to a variety of risks and uncertainties and other
factors that could cause plans, estimates and actual results to vary materially from those projected in suc h
forward-looking information. Factors that could cause the forward-looking information in this news release to
change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to
above prove not to be valid or reliable; market conditions and volatility and global economic conditions,
including delays, increased volatility and potentially negative capital raising conditions resulting from the
continued COVID-19 pandemic and risks relating to the extent and duration of such pandemic and its impact
on global markets; risk of delay and/or cessation in planned work or changes in the Company's financial
condition and development plans; risks associated with the interpretation of data (including in respect of the
third party mineralized material) regarding the geology, grade and continuity of mineral deposits; the
uncertainty of the geology, grade and continuity of mineral deposits and the risk of unexpected variations in
mineral resources, grade and/or recovery rates; risks related to gold, silver, base metal and other commodity
price fluctuations; risks relating to environmental regulation and liability; the possibility that results will not be
consistent with the Company's expectations, as well as the other risks and uncertainties applicable to mineral
exploration and development activities and to the Company as set forth in the Company's continuous
disclosure filings filed under the Company's profile at www.sedar.com. There can be no assurance that any
forward-looking information will prove to be accurate, as actual results and future events could differ materially
from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on
forward-looking information or statements. The Company undertakes no obligation to update forward -looking
information or statements, other than as required by applicable law.