VANCOUVER, April 28, 2020 /CNW/ - Kootenay Silver Inc.
(TSXV: KTN) (the "Company" or "Kootenay") reports an
update on the status of the filing of its audited annual financial
statements and accompanying management's discussion and analysis
for the financial year ended December 31,
2019 (collectively, the "Annual Filings"), which are
required to be filed by April 29,
2020 under National Instrument 51-102 Continuous Disclosure
Obligations.
On March 23, 2020, the Canadian
Securities Administrators published substantively harmonized
temporary exemptions from certain regulatory filing requirements
that provide issuers with a 45-day filing extension for filings
required on or before June 1, 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 expects to file the Annual Filings before the
extension deadline required by the Canadian Securities
Administrators and anticipates no further delays to future required
filings. 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.
Kootenay is well financed with $6.7
million in cash, no debt and possesses quality silver assets
that will continue to strongly position the Company once the
markets emerge from this crisis. The Company confirms that other
than as previously disclosed by the Company, there have been no
material business developments since the date of the Company's most
recent filing of its interim Financial Statements and Management
Discussion and Analysis.
About Kootenay Silver Inc.
Kootenay Silver Inc. is an exploration company actively
engaged in the discovery and development of mineral projects in the
Sierra Madre Region of Mexico and
in British Columbia, Canada.
Supported by one of the largest portfolios of silver assets in
Mexico, Kootenay continues to
provide its shareholders with significant leverage to silver
prices. The Company remains focused on the expansion of its current
silver resources, new discoveries and the near-term economic
development of two of its priority silver projects located in
prolific mining districts in Sonora, State and Chihuahua, State,
Mexico, respectively.
On Behalf of the Board of Directors of
KOOTENAY SILVER INC.
"James McDonald"
President & CEO
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.
CAUTIONARY NOTES:
The information in this news release has been prepared as at
April 27, 2020. Certain statements in
this news release, referred to herein as "forward-looking
statements", constitute "forward-looking statements" under the
provisions of Canadian provincial securities laws. These statements
can be identified by the use of words such as "expected", "may",
"will" or similar terms.
Forward-looking statements are necessarily based upon a
number of factors and assumptions that, while considered reasonable
by Kootenay as of the date of such statements, are inherently
subject to significant business, economic and competitive
uncertainties and contingencies. Many factors, known and
unknown, could cause actual results to be materially different from
those expressed or implied by such forward-looking
statements. Readers are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the
date made. Except as otherwise required by law, Kootenay
expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any such statements to reflect
any change in Kootenay's expectations or any change in events,
conditions or circumstances on which any such statement is based.
More particularly, this release contains statements concerning the
anticipated Private Placement. Accordingly, there is a risk that
the Private Placement will not be completely sold, or the Private
Placement will be completed within the anticipated time or at
all.
SOURCE Kootenay Silver Inc.