/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY
CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./
CALGARY, June 1, 2020 /CNW/ - Petro-Victory Energy
Corp. ("Petro-Victory" or the "Company") (TSX-V: VRY)
announces that, further to its news releases dated April 29, 2020 and May 11,
2020, it intends to file its Annual Audited Financial
Statements and Management's Discussion & Analysis for the year
ended December 31, 2019 (the
"Year-End Documents") by no later than June 15, 2020 and its Interim Financial
Statements and Management's Discussion & Analysis for the
quarter ended March 31, 2020 (the
"Q1 Documents") by no later than July
14, 2020. The delivery and filing of the Year-End Documents
and the Q1 Documents were postponed due to logistics and delays
caused by the COVID-19 pandemic.
Petro-Victory is relying on exemptive relief granted by Alberta
Securities Commission Blanket Order 51-517 that allows the Company
to delay the filing of the Year-End Documents, required by sections
4.2 and 4.6(3) of National Instrument 51-102 ("NI 51-102")
by April 29, 2020, and the filing of
the Q1 Documents, required by sections 4.4 and 4.6(3) of NI 51-102
by May 30, 2020. In response to the
COVID-19 pandemic, securities regulatory authorities in
Canada have granted a blanket
exemption allowing issuers an additional 45 days to complete their
regulatory filings.
Until the Company has filed its Year-End Documents, members of
the Company's management and other insiders are subject to an
insider trading black-out period as per its internal Insider
Trading Policy that is consistent with the principles in Section 9
of National Policy 11-207 - Failure-to-File Cease Trade Orders
and Revocations in Multiple Jurisdictions.
The Company confirms that 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.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities, in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction. The
securities have not been and will not be registered under the
United States Securities Act of 1933, as amended, or any state
securities laws and may not be offered or sold within the United States unless an exemption from
such registration is available.
Cautionary Note
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Advisory Regarding Forward-Looking Statements
In the interest of providing Petro-Victory's shareholders and
potential investors with information regarding Petro-Victory,
including management's assessment of Petro-Victory's future plans
and operations, certain statements in this press release are
"forward-looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and
"forward-looking information" within the meaning of applicable
Canadian securities legislation (collectively, "forward-looking
statements"). In some cases, forward-looking statements can be
identified by terminology such as "anticipate", "believe",
"continue", "could", "estimate", "expect", "forecast", "intend",
"may", "objective", "ongoing", "outlook", "potential", "project",
"plan", "should", "target", "would", "will" or similar words
suggesting future outcomes, events or performance. The
forward-looking statements contained in this press release speak
only as of the date thereof and are expressly qualified by this
cautionary statement.
Specifically, this press release contains forward-looking
statements relating to but not limited to: the expected timing of
future releases, our business strategies, plans and objectives, and
drilling, testing and exploration expectations. These
forward-looking statements are based on certain key assumptions
regarding, among other things:, our ability to add production and
reserves through our exploration activities; the receipt, in a
timely manner, of regulatory and other required approvals for our
operating activities; the availability and cost of labor and other
industry services; the continuance of existing and, in certain
circumstances, proposed tax and royalty regimes; and current
industry conditions, laws and regulations continuing in effect (or,
where changes are proposed, such changes being adopted as
anticipated). Readers are cautioned that such assumptions, although
considered reasonable by Petro-Victory at the time of preparation,
may prove to be incorrect.
Actual results achieved will vary from the information provided
herein as a result of numerous known and unknown risks and
uncertainties and other factors. These and additional risk factors
are discussed in our Final Prospectus dated July 11, 2014, as filed with Canadian securities
regulatory authorities at www.sedar.com.
The above summary of assumptions and risks related to
forward-looking statements in this press release has been provided
in order to provide shareholders and potential investors with a
more complete perspective on Petro-Victory's current and future
operations and such information may not be appropriate for other
purposes. There is no representation by Petro-Victory that actual
results achieved will be the same in whole or in part as those
referenced in the forward-looking statements and Petro-Victory does
not undertake any obligation to update publicly or to revise any of
the included forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required
by applicable securities law.
SOURCE Petro-Victory Energy Corp.