Rokmaster announces that, due to delays associated with the COVID-19 pandemic, the Company will not be able to file its annual consolidated financial statements for the year ended December 31, 2019
Rokmaster Resources Corp. (“Rokmaster” or the “Company”) announces that due to delays associated with the COVID-19 pandemic, the Company will not be able to file its annual consolidated financial statements and accompanying management’s discussion and analysis and related CEO and CFO certifications for the year ended December 31, 2019 (collectively, the “Annual Filings”), prior to April 29, 2020, in accordance with Sections 4.2 and 5.1(2) of National Instrument 51-102 – Continuous Disclosure Obligations.
On March 18, 2020, the Canadian Securities Administrators (CSA) announced that they would 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. The Company is continuing to work diligently and expeditiously to file the Annual Filings and currently expects them to be filed on or prior to the extended filing deadline of June 15, 2020.
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 condensed consolidated interim financial statements for the period ended September 30, 2019, there have been no material business developments other than those that have been publicly disclosed as required under applicable securities laws and stock exchange requirements, and the developments disclosed below.
Other Corporate Developments:
The Company is pleased to announce that it has increased its previously announced non-brokered financing involving the sale of flow-through units from up to 8,000,000 to up to 8,888,889 flow-through units (the “Flow-Through Units”) for gross proceeds of up to $1,800,000 to up to $2,000,000, respectively. The terms and use of proceeds from the sale of the Flow-Through Units will be the same as those described in the Company’s news release dated April 27, 2020. The financing remains subject to regulatory approval.
Lastly, the Company has received notice of the filing of a Notice of Civil Claim in the Supreme Court of BC in respect of a claim for $111,863.73 made by Somji Consulting Ltd. (“Somji Consulting”), a consulting company controlled by former Rokmaster director Feisal Somji, in respect of monies that Somji Consulting alleges are owed to it pursuant to a prior consulting agreement between Rokmaster and Somji Consulting. Rokmaster disputes the amount claimed by Somji Consulting, and it intends to file a response to this matter.
Rokmaster’s focus is on exploring for base and precious metals, and its flagship asset is its option to earn 100% of the Revel Ridge polymetallic precious metals project situated in the prolific Kootenay Arc. Please refer to the technical report titled “Updated Technical Report on the Revel Ridge Property (formerly J&L Property), Revelstoke Mining Division, British Columbia, Canada” dated February 25, 2020 with an effective date of January 29, 2020, which the Company has filed on SEDAR.
On behalf of the Board of Directors,
John Mirko, President and Chief Executive Officer.
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.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS:
This news release may contain forward-looking information within the meaning of applicable securities laws (“forward-looking statements”). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” ‘projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. These forward-looking statements are 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, without limitation: risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company’s properties; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from Rokmaster’s operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.