Usha Resources Announces Update to its Annual Filing
Suite 804, 750 West Pender Street, Vancouver, British Columbia V6C 2T7
Usha Resources Announces Update to its Annual Filing
Vancouver, British Columbia / July 24, 2020 – Usha Resources Ltd. (“USHA” or the “Company”)
(TSXV: USHA) announces that it will be relying on a 45-day ex tension for certain regulatory filings and
delivery obligations, as a result of the COVID-19 pa ndemic, as announced by the Canadian Securities
Administrators (“CSA”) on May 20, 2020, with respect to the filing of its annual financial statements,
management's discussion and analysis, and related offi cer certificates for its financial year ended March
31, 2020.
The notice released by the CSA stated that it published a blanket order providing a 45-day extension for
certain filing, delivery and base shelf prospectus rene wal obligations normally due or required to be made
during the period from June 2, 2020 to August 31, 2020 as a result of the COVID-19 pandemic. As such,
the British Columbia Securities Commission (“ BCSC”) has enacted BC Instrument 51-517 Temporary
Exemption from Certain Corporate Finance Requireme nts with Deadlines during the Period from June 2
to August 31, 2020 (“BCI 51-517”).
The Company will be relying on the temporary exemption pursuant to BCI 51-517 in respect of the
following provisions:
the requirement to file audited financial state ments for the year ende d March 31, 2020 (the
“Financial Statements”) within 120 days of the Company's financial year end as required by
section 4.2(b) of National Instrument 51-102 Continuous Disclosure (“NI 51-102”);
the requirement to file management discussion and analysis (the “ MD&A”) for the period
covered by the Financial Statements within 120 days of the Company's financial year end as
required by section 5.1(2) of NI 51-102; and
the requirement to file certifications of the Financial Statements (the “ Certificates” and together
with the Financial Statements, the “ Annual Filings ”) pursuant to section 4.1 of National
Instrument 52-109 Certification of Disclosure in Issuer’s Annual and Interim Filings and section
4.2(b) [filing deadline for annual financial statements] NI 51-102.
The Company is continuing to work diligently with it s auditors to file the Annual Filings by August 25,
2020.
The Company confirms that there have been no mat erial developments, other than those disclosed
through news releases and material change reports, since the filing of its condensed interim financial
statements for the period ended December 31, 2019.
Additionally, the Company advises that management and other insiders of the Company are subject to a
trading black-out policy as described, in prin ciple, in section 9 of National Policy 11-207, Failure to-File
Cease Trade Orders and Revocations in Multiple Jurisdictions.
USHA RESOURCES LTD.
“Deepak Varshney”
CEO and Director
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.