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Champion Bear Resources Ltd
Symbol CBA
Shares Issued 56,319,996
Close 2020-07-02 C$ 0.16
Recent Sedar Documents

Champion Bear continues working on 2019, Q1 results

2020-07-06 15:15 ET - News Release

Mr. Richard Kantor reports

CHAMPION BEAR RECONFIRMS DELAY IN FILING CERTAIN CONTINUOUS DISCLOSURE DOCUMENTS

Further to its April 29, 2020, and June 1, 2020, press releases due to circumstances created by the COVID-19 pandemic, Champion Bear Resources Ltd. is continuing to rely on Blanket Order 51-517 (Temporary Exemption from Certain Corporate Finance Requirements of the Alberta Securities Commission) (and similar exemptions provided by the British Columbia and Ontario Securities Commissions), to postpone the filing of the certain continuous disclosure documents required by National Instrument 51-102 (Continuous Disclosure Documents). Pursuant to ASC 51-517 during the period from March 23, 2020 to June 1, 2020, a person or company required to make certain filings as described in ASC 51-517 has an additional 45 days from the deadline otherwise applicable under Alberta securities laws to make the filing.

In particular, the Company will be relying on the temporary exemption pursuant to ASC 51-517 in respect to the following provisions.

the requirement to file audited financial statements for the year ended December 31, 2019 (the "Annual Financial Statements") within 120 days of the Company's financial year end as required by section 4.2(b) of NI 51-102;

the requirement to file interim financial statements for the three month period ended March 31, 2020 (the "Interim Financial Statements") within 60 days of the Company's first quarter as required by section 4.4(b) of NI 51-102;

the requirement to file management discussion and analysis (the "Annual MD&A") for the period covered by the Annual Financial Statements within 120 days of the Company's financial year end as required by section 5.1(2) of NI 51-102;

the requirement to file management discussion and analysis (the "Interim MD&A") for the period covered by the Interim Financial Statements within 60 days of the Company's first quarter as required by section 5.1(2) of NI 51-102;

the requirement to file certifications of the Annual Financial Statements (the "Certificates" and together with the Annual Financial Statements, the "Annual Filings") pursuant to section 4.1 of National Instrument 52-109; and

the requirement to file certifications of the Interim Financial Statements (the "Certificates" and together with the Interim Financial Statements, the "Interim Filings") pursuant to section 5.1 of National Instrument 52-109.

This press release is being issued pursuant to the requirement of paragraph 7(b) of ASC 51-517 whereby issuers are required to issue a news release no later than 30 days from their original news release if the required continuous disclosure materials have still not been filed. The Company continues to work diligently and expeditiously with its auditors and expects to file the Annual Filings, Annual MD&A, Interim Filings and Interim MD&A on or before July 15, 2020.

In the interim, management and other insiders of the Company continue to be subject to a trading black-out policy as described, in principle, in section 9 of National Policy 11- 207 {&#A A ; –} Failure to File Cease Trade Orders and Revocations in Multiple Jurisdictions.

The Company further confirms that since the filing of its interim consolidated financial statements for the period ended September 30, 2019, there have been no material business developments other than those disclosed through Champion Bear press releases and in particular, the April 22, 2020 press release relating to the completion of the settlement of an aggregate of $528,445.97 of outstanding debt to eight creditors of the Company in exchange for the issuance of an aggregate of 3,522,972 common shares of the Company at a deemed price of $0.15 per share.

About Champion Bear

Champion Bear is a mineral exploration company focused exclusively on the historically prospective regions of Ontario. The Company's primary targets are platinum group metals, precious metals, and polymetallic base metals deposits. Champion Bear's aim is to create shareholder value through selective property acquisition followed by focused exploration emphasizing drilling. The Company has assembled a large land position in the Dryden and Sudbury areas, totaling over 16,000 hectares.

We seek Safe Harbor.

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