Mr. Stephen Kenwood reports
MAJESTIC PROVIDES STATUS UPDATE TO MANAGEMENT CEASE TRADE ORDER
Majestic Gold Corp. is providing this biweekly default status report in accordance with National Policy 12-203 (Management Cease Trade Orders).
On June 11, 2020, the company announced that it had made application to the B.C. Securities Commission, under NP 12-203, requesting that a temporary management cease trade order (MCTO) be granted in respect of the anticipated late filing of the company's annual audited financial statements, management's discussion and analysis, and officer certificates for the year ended Dec. 31, 2019. The MCTO was granted June 16, 2020.
There has been no material change to the information contained in the default announcement of June 11, 2020, that has not been generally disclosed, and there has been no failure by the company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in National Policy 12-203 (Management Cease Trade Orders). The company confirms that it will continue to satisfy the provisions of the alternative information guidelines for so long as it is delayed in filing the annual filings.
The company continues to work with its auditor to complete its annual filings, and anticipates filing them along with its unaudited interim financial statements, management's discussion and analysis, and officer certificates for the three months ended March 31, 2020, on or before July 15, 2020.
While the MCTO remains in effect, Majestic's directors, officers and insiders cannot trade the company's securities.
About Majestic Gold Corp.
Currently focused solely in China, Majestic Gold is a British Columbia-based company engaged in commercial gold production at the Songjiagou gold mine in eastern Shandong province, China.
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