Rift Valley Resources Corp Announces Update to its Annual Filings

Rift Valley Resources Corp (the “Company”) (CSE:RVR) announces that, as a result of the COVID-19 pandemic, it will be relying on the coordinated relief provided by the securities regulators which consists of a 45-day extension for certain periodic filings, as announced by the Canadian Securities Administrators (“CSA”) on March 18, 2020, with respect to the filing of its annual financial statements, management’s discussion and analysis, and related officer certificates for its financial year ended December 31, 2019.

The notice released by the CSA stated that securities regulators will be providing coordinated relief consisting of a 45-day extension for certain periodic filings required to be made on or prior to June 1, 2020 as a result of the COVID-19 pandemic. As such, the British Columbia Securities Commission (“BCSC”) has enacted BC Instrument 51-515, Temporary Exemption from Certain Corporate Finance Requirements (“BCI 51-515”).

The Company will be relying on the temporary exemption pursuant to BCI 51-515 in respect to the following provisions:

• the requirement to file audited financial statements for the year ended December 31, 2019 (the “Financial Statements”) within 120 days of the Company’s financial year end as required by section 4.2(b) of National Instrument 51-102 Continuous Disclosure (“NI 51-102”);
• the requirement to file management discussion and analysis (the “MD&A”) for the period covered by the Financial Statements within 120 days of the Company’s financial year end as required by section 5.1(2) of NI 51-102; and
• the requirement to file certifications of the Financial Statements (the “Certificates” and together with the Financial Statements, the “Annual Filings”) pursuant to section 4.1 of National Instrument 52-109 Certification of Disclosure in Issuer’s Annual and Interim Filings and section 4.2(b) [filing deadline for annual financial statements] NI 51-102.

The Company is continuing to work diligently with its auditors to file the Annual Filings by May 15, 2020.

The Company confirms that there have been no material developments, other than those disclosed through news releases, since the filing of its condensed interim consolidated financial statements for the period ended September 30, 2019.

Additionally, the Company advises that management and other insiders of the Company are subject to a trading black-out policy as described, in principle, in section 9 of National Policy 11-207, Failure to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.

About Rift Valley Resources Corp: Rift Valley Resources Ltd. is a publicly traded company listed on the Canadian Securities Exchange (CSE). The Company on January 24 2019 announced the appointment of Mr. Vern Fotheringham as its Non-Executive Chairman.

On behalf of the Board of Directors,

Griffin Jones, CEO

For more information, please contact Mr. Griffin Jones 604 682 7339 or gjones@ruralinkwireless.com

Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of the content of this news release.

Click here to connect with Rift Valley Resources Corp (CSE:RVR) for an Investor Presentation.

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