ArcPacific Resources Corp. announces extension of filing deadline of its annual financial statements and MD&A
TSX Venture Exchange Symbol: ACP
June 1st, 2020
Vancouver, BC – ArcPacific Resources Corp. (“ACP” or “the Company”) (TSX-V: ACP) announces that, as a result of delays caused by the COVID-19 pandemic, the Company will be postponing the filing of its annual financial statements and accompanying management's discussion and analysis and related CEO and CFO certificates for the financial year ended January 31st, 2020 (collectively, the "Annual Filings"), which are required to be filed by June 1st, 2020 under National Instrument 51-102 - Continuous Disclosure Obligations.
On March 23rd, 2020, the Canadian Securities Administrators (CSA) announced that they would provide issuers with a 45-day extension for filings required on or before June 1st, 2020, to allow issuers the time needed to focus on the many other business and financial reporting implications of the COVID-19 pandemic.
The Company will rely on this exemption with respect to the Annual Filings in accordance with BC Instrument 51-515 -Temporary Exemption from Certain Corporate Finance Requirements ("BCI 51-515"). The Company is continuing to work diligently and expeditiously to complete and file the Annual Filings and currently expects to have them filed on or prior to the extended filing deadline of July 16th, 2020. The Company expects to thereafter deliver the annual financial statements before, or in conjunction with, the delivery of its management information circular for its next annual general meeting as permitted by BCI 51-515.
Until the Annual Filings are filed, management and other insiders of the Company continue to be subject to a trading black-out policy that reflects 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 since the filing of its interim financial statements for the period ended October 31st, 2019, there have been no material business developments other than those that have been publicly disclosed and identified in the press release on November 18th, 2019 relating to potential participation in LNG business as well as in the press release on December 31st 2019 and January 27th, 2020 relating to the closing of the private placement.
ArcPacific Resources Corp. (TSX-V: ACP) is a Canadian based company with a project generator business model. Although the Company’s primary business focus since formation has been the exploration of mineral properties, it is now seeking new business opportunities that offer the potential for near term cash flow to create shareholder value. For further information, please visit www.arcpacific.ca
ON BEHALF OF THE BOARD OF DIRECTORS
CFO and Director
The forward-looking statements contained in this press release are made as of the date hereof and ArcPacific Resources Corp. undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.