Rogue Corporate Update: COVID 19 Response
Tuesday, March 24, 2020 4:00 PM
NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO US WIRE SERVICES
- Rogue Stone temporarily suspended its quarry operations at its Bobcaygeon and Orillia quarries today, in line with guidance from the government of Ontario.
- Results for the quarter November 2019-January 2020 will be made public Monday, March 30, 2020.
TORONTO, ON / ACCESSWIRE / May 24, 2020 / Rogue Resources Inc. (TSX-V:RRS) ("Rogue" or the "Company") sent the below note to shareholders, from Sean Samson, President and CEO of Rogue Resources-
I wanted to be in touch about our response and management through the COVID-19 pandemic but know you have likely been inundated by emails. Speaking personally, I agree with others who have commented that our health and safety seems to be the top priority of so many companies-- that I never even knew had my personal email address.
At Rogue, we have been focused on the health and safety of our teams and have been practicing social distancing throughout the company. Management has been working remotely since February and our Operations teams at Rogue Stone have rigorous procedures to ensure they are following public health recommendations. The Operations team members arrive in their personal vehicles, operate individual pieces of equipment, spend break time outside or back in their personal vehicles and use mobile phones to communicate with each other, with Management, and to coordinate delivery trucks that arrive to be loaded. This protocol has been discussed in detail with the Company's Board of Directors, which has been receiving regular updates regarding the course of business. We are also in regular contact with our suppliers and our lenders, all of whom are seeing major disruption in their businesses.
Rogue Stone, at both the Bobcaygeon and Orillia quarries, can continue its normal business operations following the public health recommendations and was doing so, until today.
Yesterday afternoon, the Ontario Government directed all non-essential businesses to close today at midnight, for 14 days. Around the same time, similar announcements were made elsewhere, including in Michigan, a key export market. Based on the Ontario guidelines released last night, Rogue is confident that its stone business qualifies to remain open based on, among other things, its production of armour stone and supply to infrastructure projects but, with an abundance of caution, has chosen to temporarily suspend operations at its quarries. Beyond the primary focus of our teams' health and safety, we remain in contact with our customers with whom we have a shared future, as we navigate ahead.
The TSX yesterday announced that companies could delay filing of Financial Statements, but we plan to stick to our schedule and file our Financial Statements maintaining our prior deadline of this coming Monday.
I extend my best wishes during this challenging time and please contact me with any questions about your Company.
P.S. - Please keep washing your hands."
For more information visit www.rogueresources.ca or contact:
Cautionary Note Regarding Forward-Looking Statements:
This news release contains certain statements or disclosures relating to the Company that are based on the expectations of its management as well as assumptions made by and information currently available to the Company which may constitute forward-looking statements or information ("forward-looking statements") under applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "intends," "target," "estimates," "projects," "continue," "potential" and similar expressions, or are events or conditions that "will," "would," "may," "could" or "should" occur or be achieved.
In particular, but without limiting the foregoing, this news release contains forward-looking statements pertaining to the following: the increasing demand for Armour; the continued evolution of the product mix; the future purchase volumes and pricing of the Preferred Partners; finalization of purchase orders; meeting remaining Ministry regulatory requirements at Bobcaygeon Quarry; closing of the acquisition of the Orillia Quarry; operations and sales from the Bobcaygeon and Orillia Quarries and perhaps most importantly- the unpredictable outcome from the COVID-19 pandemic.
The forward-looking statements contained in this news release reflect several material factors and expectations and assumptions of the Company including, without limitation: business strategies and the environment in which the Company will operate in the future; commodity prices; exploration and development costs; mining operations, drilling plans and access to available goods and services and development parameters; regulatory restrictions; the ability of the Company to obtain applicable permits; activities of governmental authorities (including changes in taxation and regulation); currency fluctuations; the global economic climate; and competition.
The Company believes that the material factors, expectations and assumptions reflected in the forward-looking statements contained in this news release are reasonable at this time but no assurance can be given that these factors, expectations and assumptions will prove to be correct. The forward-looking statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements including, without limitation, those risks identified in the Company's most recent annual and interim management's discussion and analysis, copies of which are available on the Company's SEDAR profile at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive and are cautioned not to place undue reliance on these forward-looking statements.
If the closing of the Orillia Quarry acquisition does not occur for any reason including the receipt of applicable regulatory approvals, or if revenues and/or profitability from the Bobcaygeon or Orillia Quarries are not sufficient, then there is a specific risk that the market price of the Company's securities will be negatively impacted.
The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE: Rogue Resources Inc.