Mr. Nizar Bharmal reports
ARCPACIFIC RESOURCES CORP. ANNOUNCES EXTENSION OF FILING DEADLINE OF
ITS INTERIM FINANCIAL STATEMENTS AND MD&A
As a result of delays caused by the COVID-19 pandemic, Arcpacific Resources Corp. will postpone the filing of its interim financial statements, accompanying management's discussion and analysis, and related chief executive officer and chief financial officer certificates for the three-month period ended April 30, 2020, which are required to be filed by June 29, 2020, under National Instrument 51-102 (Continuous Disclosure Obligations).
On May 20th, 2020, the Canadian Securities Administrators (CSA) announced that they would provide issuers with a 45-day extension for filings required between June 2nd and August 31st, 2020, to allow issuers the time needed 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 Interim Filings in accordance 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 Interim Filings and currently expects to have them filed on or prior to the extended filing deadline of August 13th, 2020.
Until the Interim 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 annual financial statements for the financial year ended January 31st, 2020, there have been no material business developments other than the passing of CEO through news releases and filed under the Company's SEDAR profile at www.sedar.com.
Arcpacific Resources Corp. (TSX-V: ACP) is a Canadian based company with a project generator business model. Although the Company's primary business focus since formation has been the exploration of mineral properties, it is now seeking new business opportunities that offer the potential for near term cash flow to create shareholder value.
We seek Safe Harbor.
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