VANCOUVER, BC, May 15, 2023
/CNW/ - NG Energy International Corp. ("NGE" or the
"Company") (TSXV: GASX) (OTCQX: GASXF) advises that it is
delayed in filing its audited annual financial statements,
corresponding management's discussion and analysis, and
certification of annual filings (Collectively the "Financial
Documents") for the year end December 31,
2022.
As a result of the Company's delayed filing of its financial
documents, the Company has received a cease trade order (the "CTO")
from the British Colombia Securities Commission. The Company
anticipates having the Financial Documents completed by the
end of the month at which point the Company will seek to have the
CTO revoked.
About NG Energy International
Corp.
NG Energy International Corp. is a publicly traded E&P
company on a mission to provide a clean and sustainable solution to
Colombia's energy needs. The
Company intends on executing this mission by producing and bringing
gas to the premium priced Colombian gas market from the blocks,
SN-9, a 311,353 acres block which is adjacent to Canacol's Nelson
field, as well Maria Conchita, a
32,518-acre block located in the region of La Guajira. NGE's team
has extensive technical expertise and a proven track record of
building companies and creating value in South America. For more information, please
visit SEDAR (www.sedar.com) and the Company's website
(www.ngenergyintl.com).
Cautionary Statement Regarding
Forward-Looking Information
Except for the statements of historical fact, this news
release contains "forward-looking information" within the meaning
of the applicable Canadian securities legislation that is based on
expectations, estimates and projections as at the date of this news
release. "Forward-looking information" in this news release
includes, but is not limited to, statements regarding the timing,
review, completion and filing of the Annual Filings, and duration
of the CTO; business goals and objectives of the Company, and other
forward-looking information concerning the intentions, plans and
future actions of the parties to the transactions described herein
and the terms thereon.
Factors that could cause actual results to differ materially
from those described in such forward-looking information include,
but are not limited to: the Company may not complete its audit and
file the Annual Filings as currently anticipated, or at all; the
Company will be subject to a general cease trade order in the event
that the Annual Filings are not completed and filed; and other
related risks as more fully set out in the documents disclosed
under the Company's filings at www.sedar.com.
The forward-looking information in this news release reflects
the current expectations, assumptions and/or beliefs of the Company
based on information currently available to the Company. In
connection with the forward-looking information contained in this
news release, the Company has made assumptions about the Company's
ability to complete and file the Annual Filings. The Company has
also assumed that no significant events occur outside of the
Company's normal course of business. Although the Company believes
that the assumptions inherent in the forward-looking information
are reasonable, forward-looking information is not a guarantee of
future performance and accordingly undue reliance should not be put
on such information due to the inherent uncertainty
therein.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE NG Energy International Corp.