Mr. Christopher Anderson reports
GREAT ATLANTIC RESOURCES ANNOUNCES THE POSTPONEMENT OF FILING ANNUAL FINANCIAL STATEMENTS AND MD&A DUE TO COVID-19 RELATED DELAYS.
Great Atlantic Resources Corp. has postponed the filing of its annual financial statements and its annual management's discussion and analysis for the year ended Feb. 29, 2020, due to logistics and delays caused by COVID-19. The company is relying on the British Columbia Securities Commission blanket order BCI 51-515 for temporary exemption from certain corporate finance requirements.
Recent events pertaining to COVID-19 have impacted the ability of the company, its employees and its directors to rely on timely information and meet to approve the financial statements and management discussion and analysis. According to the blanket order, during the period from June 2, 2020, to Aug. 31, 2020, a person or company required to make certain filings as described in the blanket order has an additional 45 days from the deadline otherwise applicable under British Columbia securities laws to make the filing according to certain disclosure obligations by the company. Pursuant to the blanket order, Great Atlantic is relying on the relief therein for its financial statements required by Section 4.2 of National Instrument 51-102 and its MD&A required by Subsection 5.1(2) of National Instrument 51-102. Until Great Atlantic has filed and announced the required financial statements and MD&A, all management and other insiders are subject to Great Atlantic's share trading and blackout 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 estimates that the required disclosure required by British Columbia securities laws will be filed no later than July 10, 2020. There have been no material business developments since the last interim financial statements were filed on Nov. 30, 2019.
About Great Atlantic Resources Corp.
Great Atlantic is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the No. 1 mining regions of the world.
We seek Safe Harbor.
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