Geomega Announces Delayed Filing of Interim Disclosure Documents Pursuant to Blanket Exemption Orders
April 29 2020 - 8:55AM
Geomega Resources Inc. (“
Geomega” or the
“
Corporation”) (TSX:V.GMA) today announced in
accordance with Decision No. 2020-PDG-0023 of the Autorité des
marchés financiers Décision générale relative à la prolongation de
délais concernant certaines obligations d’information continue et
de prospectus applicables aux émetteurs et aux agences de notation
désignées, Ontario Instrument 51-502 Temporary Exemption from
Certain Corporate Finance Requirements of the Ontario Securities
Commission, Blanket Order 51-517 Temporary Exemption from Certain
Corporate Finance Requirements of the Alberta Securities Commission
and BC Instrument 51-515 Temporary Exemption from Certain Corporate
Finance Requirements of the British Columbia Securities Commission
(collectively, the “
Blanket Exemption Orders”),
which were adopted for the purpose of providing certain filing and
other relief to issuers in light of the challenges posted by the
COVID-19 pandemic, that it will be delaying the filing and delivery
of certain of its continuous disclosure documents.
The Company is relying on the Blanket Exemption
Orders in delaying (i) the filing of its interim financial
statements and related management discussion and analysis for the
nine months ended February 29, 2020 (collectively, the
“Required Interim Filings”) and (ii) compliance
with the delivery requirements of applicable securities laws
relating to the Required Interim Filings. The officers and
directors of the Company and certain other persons will remain
subject to a trading black-out pursuant to which such persons are
prohibited from trading in any securities of the Company until the
end of the second full trading day following the day on which the
Required Interim Filings are filed on SEDAR and a corresponding
news release is issued by the Company.
The Company currently intends to make the
Required Interim Filings by May 13, 2020.
Other than as disclosed in the Company's press
releases, there have not been any material business developments
since the date that the last financial statements of the Company
were filed.
About Geomega
(www.geomega.ca) Based
in Boucherville and St-Bruno, Canada, Geomega Resources has
developed a proprietary, environmentally friendly “ISR Technology”
that recycles rare earth elements with focus on the permanent
magnet industry and produces four high demand, high price, rare
earth elements (HHREE – specifically Nd, Pr, Tb, Dy).
The Corporation is advancing towards initial production from its
demonstration plant to supply HHREE’s to North America and other
parts of the world.
Geomega also owns the Montviel rare earth carbonatite deposit
and holds over 16.8M shares, representing approximately 19% of the
issued and outstanding shares of Kintavar Exploration Inc. (KTR.V),
a mineral exploration company that is advancing the Mitchi
stratiform copper project in Quebec.
For further information,
please contact: |
Kiril Mugerman |
President and CEO |
Geomega |
450-641-5119 ext.5653 |
kmugerman@geomega.ca |
Cautions Regarding Forward-Looking Statements
This news release contains statements that may constitute
“forward-looking information” or “forward-looking statements”
within the meaning of applicable Canadian securities legislation.
Forward-looking information and statements may include, among
others, statements regarding future plans, costs, objectives or
performance of the Corporation, or the assumptions underlying any
of the foregoing. In this news release, words such as “may”,
“would”, “could”, “will”, “likely”, “believe”, “expect”,
“anticipate”, “intend”, “plan”, “estimate” “target” and similar
words and the negative form thereof are used to identify
forward-looking statements. Forward-looking statements should not
be read as guarantees of future performance or results, and will
not necessarily be accurate indications of whether, or the times at
or by which, such future performance will be achieved. No assurance
can be given that any events anticipated by the forward-looking
information will transpire or occur, including as regards the
commercialization of any of the technology referred to above, or if
any of them do so, what benefits the Corporation will derive.
Forward-looking statements and information are based on information
available at the time and/or management's good-faith belief with
respect to future events and are subject to known or unknown risks,
uncertainties, assumptions and other unpredictable factors, many of
which are beyond the Corporation’s control. These risks,
uncertainties and assumptions include, but are not limited to,
those described under “Risk Factors” in the Corporation’s annual
management’s discussion and analysis for the fiscal year ended May
31, 2019, which is available on SEDAR at www.sedar.com; they could
cause actual events or results to differ materially from those
projected in any forward-looking statements. The Corporation does
not intend, nor does the Corporation undertake any obligation, to
update or revise any forward-looking information or statements
contained in this news release to reflect subsequent information,
events or circumstances or otherwise, except if required by
applicable laws.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
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