KFG Resources Announces Management Cease Trade Order Per National Policy 12-203
NATCHEZ, Miss., Sept. 30, 2020 KFG Resources Ltd. ("KFG" or the "Company") announces that its principal regulator, the British Columbia Securities Commission has accepted the Company's request for, and has granted, a management cease trade order (the "MCTO").
As previously announced on September 24, 2020, the Company applied for the MCTO due to a delay in the preparation and filing of the Company's quarterly financial statements for the three months ended July 31, 2020 and its management's discussion and analysis relating thereto (collectively, the "Required Filings"), which were due September 29, 2020.
The MCTO restricts all trading in securities of the Company, whether direct or indirect, by the Chief Executive Officer and Chief Financial Officer of the Company until such time as the Required Filings have been filed by the Company and the MCTO has been revoked. The MCTO does not affect the ability of other shareholders of the Company to trade their securities.
During the MCTO, the Company confirms that it will comply with the provisions of the alternative information guidelines under National Policy 12-203 – Management Cease Trade Orders by issuing bi-weekly default status reports in the form of news releases so long as it remains in default of the filing requirements set out above. The Company confirms that there is no material information concerning the affairs of the Company that has not been generally disclosed as of the date of this press release.
The Company's management is diligently working to expedite the finalization of the Required Filings.
Cautionary statement regarding forward–looking information
This news release contains 'forward-looking statements' within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: expects, plans, anticipates, believes, intends, estimates, projects, assumes, potential and similar expressions. Forward-looking statements also include reference to events or conditions that will, would, may, could or should occur, including, without limitation, statements related to when the Company expects to file the Required Filings. These forward-looking statements are necessarily based upon a number of estimates and assumptions that, while based on management's expectations and considered reasonable at the time they are made, are inherently subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including those described in the Company's public disclosure documents on SEDAR at www.sedar.com. As a result, readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this release. Unless required by law, KFG has no intention to and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE KFG Resources Ltd.
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Robert A. Kadane, President, 940-500-0807, [email protected] , http://www.kfgresources.com, http://www.kfgresources.com
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