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Sonoro Energy Ltd Announces Reliance on the Temporary Extension to Public Company Filing Deadline



Sonoro Energy Ltd

Calgary, Alberta – TheNewswire - April 24, 2020 - Sonoro Energy Ltd (the “Corporation “or “Sonoro”) (TSXV:SNV)  announces that the Corporation will be relying on the temporary 45 day extension to the filing deadline of its annual financial statements and management’s discussion and analysis” MD&A” for the year ended December 31, 2019   granted by the Alberta Securities Commission in response to Covid-19. The notice released states 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 per National Instrument 51-102, continuous Disclosure Obligations, the Company was to file its annual financials and MD&A by April 29, 2020. Relying on Blanket Order 51-517 affording the Company an additional 45 days from the deadline to file, the Company expects to file its Annual Filings on or before June 14, 2020.

 

The Company is continuing to work diligently with its auditors to file the Annual Filings by June 14, 2020.

There have been no undisclosed material business developments since the date of the last interim financial report was filed.

 

The Company acknowledges 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 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions (National Policy 11-207), until the second trading day after the Annual Filings have been disclosed.

    

Forward-looking Statements

Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may," "should," "anticipate," "expects," "estimates," "seeks" and similar expressions. In particular, without limiting the generality of the foregoing, this news release contains forward-looking information regarding the PSC.

Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals, changes in legislation including but not limited to income tax, environmental laws and regulatory matters, and ability to access sufficient capital from internal and external sources. Readers are cautioned that the foregoing list of factors is not exhaustive.

Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Additional information on these and other factors that could affect Sonoro's operations or financial results are included in Sonoro’s reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) or by contacting Sonoro. The forward looking statements contained in this news release are made as of the date of this news release and Sonoro does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release is not to be disseminated in the United States

For further information, please contact:

 

Sonoro Energy Ltd.

 +1.403.262.3252                      

www.sonoroenergy.com