Galleon Gold Announces Reliance on Temporary Regulatory Filing Relief
TORONTO: April 28, 2020. Galleon Gold Corp. (TSXV: GGO) (the “Company” or “Galleon Gold”) is providing an update on the status of its interim financial statements, accompanying management discussion & analysis and related officer certifications (collectively “Interim Filings”) for the period ended February 29, 2020.
On March 23, 2020, the Canadian Securities Administrators announced that they will provide issuers with temporary blanket relief, which provides a 45-day filing extension for certain filings required on or before June 1, 2020 as a result of the COVID-19 pandemic. As such, the Ontario Security Commission has enacted Ontario Instrument 51-502 (“Instrument 51-502”), Temporary Exemption from Certain Corporate Finance Requirements.
The Company will be relying on the temporary exemption pursuant to section 7 of Instrument 51-502 with respect to the requirement to file its Interim Filings as per section 4.4(b) and 5.1(2) of National Instrument 51-102 and section 5.1 of National Instrument 52-109. The Company expects to file its Interim Filings no later than June 13, 2020.
Until the Interim Filings are filed, management and other insiders of the Company are subject to a trading black-out policy that reflects the principles in the 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 previously disclosed in the Company’s press releases, there have not been any material business developments since the filing of its annual financial statements for the year ended November 30, 2019 on March 27, 2020.
About Galleon Gold
Galleon Gold is a North American exploration and development company. Eric Sprott holds approximately 27% of the Company’s outstanding common shares and is also the Company’s partner on the Neal Gold Project in Idaho. The Company’s flagship project, the West Cache Gold Project, is located 13 km from Timmins Ontario, is on trend with other major mines in the area, and also hosts a million-ounce gold resource.
For further information:
R. David Russell
Chairman and CEO
T. (416) 644-0066
Forward Looking Statements
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, expectations, plans, and objectives of Galleon Gold are forward-looking statements that involve various risks. The following are important factors that could cause Galleon Gold ’s actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world-wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future exploration activities and cash flows, and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Galleon Gold undertakes no obligation to update such forward-looking statements if circumstances or management’s estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
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.