Delta, British Columbia, April 28, 2020. Desert Gold Ventures Inc. (the “Company”) (TSX.V: DAU, FF: QXR2, OTC: DAUGF) announces the postponement of filing its annual financial statements (“Financial Statements”) and its annual management's discussion & analysis (“MD&A”) for the year ended December 31, 2019 due to logistics and delays caused by the COVID-19. The Company is relying on the British Columbia Securities Commission (the “Commission”) blanket order BCI 51-515 (the “Blanket Order”) for temporary exemption from certain corporate finance requirements.
Recent events pertaining to COVID-19 has impacted the Company and its employees and its auditors’ ability to rely on timely information and to prepare its Financial Statements and MD&A. According to the Blanket Order, during the period from March 23, 2020 to June 1, 2020 a person or company required to make certain filings as described in the Blanket Order has an additional 45 days from the deadline otherwise applicable under British Columbia securities laws to make the filing according to certain disclosure obligations by the Company. Pursuant to the Blanket Order, the Company is relying on the relief therein for its Financial Statements required by section 4.2 of National Instrument 51-102 and its MD&A required by subsection 5.1(2) of National Instrument 51-102.
Until the Company has filed and announced the required Financial Statements and MD&A, all management and other insiders are subject to the Company’s share trading and 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 estimates that the required disclosure required by British Columbia securities laws will be filed no later than June 12, 2020. There have been no unreported material business developments since the date of the last interim financial statements were filed on November 29, 2019
ON BEHALF OF THE BOARD
Chief Executive Officer
+1 (604) 357 4726
Certain statements contained in this release may constitute "forward–looking statements" or "forward-looking information" (collectively "forward-looking information") as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “anticipates” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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