Mr. Jared Lazerson reports
MGX MINERALS PROVIDES STATUS UPDATE REGARDING MANAGEMENT CEASE TRADE ORDER
Further to the application for a management cease trade order, which was granted by the B.C. Securities Commission on Nov. 29, 2019, MGX Minerals Inc. is required to provide biweekly status reports in accordance with the alternative information guidelines in National Policy 12-203 (Management Cease Trade Orders) until such time as the company has completed and filed its audited annual financial statements and management's discussion and analysis in respect of the financial year ended July 31, 2019.
The company reports that, since its Nov. 29, 2019, default announcement in respect of the MCTO, there has not been any failure by the company to fulfill its intentions with respect to satisfying the provisions of the guidelines, and there have been no additional defaults subsequent to such announcement.
At this time, the company does not expect that there will be a change to its anticipated timing of filing the annual filings on or before Dec. 19, 2019, and in any event before Dec. 31, 2019.
The company intends to follow the provisions of the alternative information guidelines set out in NP 12-203, including the issuance of biweekly default status reports in the form of news releases, for as long as the company remains in default. The company confirms, as of the date of this news release, that there has been no material change in the information contained in the default announcement, and there is no other material information concerning the affairs of the company that has not been generally disclosed. In addition, the company hereby confirms that it has not received any financing from any related party at this time.
The company continues to work diligently to prepare the annual filings, and will continue to comply with the guidelines until such deficiencies are remedied.
We seek Safe Harbor.
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