VANCOUVER, BC / ACCESSWIRE / April 28, 2020 / Letho Resources Corp. (TSXV:LET) (“Letho“, or the “Company“) announces that due to the COVID-19 pandemic, the Company intends to postpone the filing of its annual consolidated financial statements, accompanying management’s discussion and analysis, as well as related CEO and CFO certificates for the financial period ended December 31, 2019 (collectively, the “Annual Filings“), which are required to be filed by April 29, 2020, under Sections 4.2 and 5.1(2) of National Instrument 51-102 – Continuous Disclosure Obligations.
On March 23, 2020, the British Columbia Securities Commission (BCCS) announced that issuers would be provided 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 to have them filed on or prior to the extended filing deadline of June 15, 2020. The Company also announces that management and other insiders are subject to an insider trading black-out policy that reflects the principles in section 9 of National Policy 11-207,However, Letho notes that trading of its shares has been halted subsequent to a press release on May 11, 2018 which announced a Memorandum of Understanding with Anio Oil and Gas Sh.a. (“Anio”) regarding a proposed business combination which, if completed, would result in a reverse takeover of the Company by Anio.
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.
About Letho Resources Corp.
Letho Resources is an emerging oil and gas production focused company, currently advancing an acquisition of a production asset. Letho recently announced a Memorandum of Understanding with Anio Oil & Gas Sh.a., which has a Petroleum Licence Agreement for the Ballsh-Hekal producing oil field in Albania.
On behalf of the Board of Directors of Letho Resources Corp.,
President & CEO, Director
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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.
Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs regarding future events of management of Letho. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding management’s expectations with respect to filing the Annual Filings. These statements generally can be identified by use of forward-looking words such as “may”, “will”, “expect”, “estimate”, “anticipate”, “intends”, “believe” or “continue” or the negative thereof or similar variations.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. Important factors that may cause actual results to vary include without limitation, risks relating to, conditions that may affect its ability to hold file the Annual Filings within the time frame expected, or at all.
In making the forward‐looking statements in this news release, the Company has applied several material assumptions, including without limitation that Letho will be in a position to file the Annual Filings by June 15, 2020.
Letho does not assume any obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless and until required by applicable securities laws. Additional information identifying risks and uncertainties are contained in Letho’s filings with the Canadian securities regulators, which filings are available at www.sedar.com.
SOURCE: Letho Resources Corp.
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