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TORONTO, ON / ACCESSWIRE / August 27, 2020 / Buchans Wileys Exploration Inc. (the "Company") announces that it will not be able to file its annual financial statements for the year ended April 30, 2020 and the related management's discussion and analysis, as required by Part 4 and Part 5 of National Instrument 51-102: Continuous Disclosure Obligations (collectively, the "Annual Filings") by the filing deadline of August 28, 2020.
The Company will rely on an exemption set out in Ontario Instrument 51-505: Temporary Exemption from Certain Corporate Finance Requirements which provides blanket relief of a 45-day extension provided for periodic filings normally required to be made by issuers during the period from June 2, 2020 to August 31, 2020. The Company expects to file the Annual Filings by September 27, 2020.
The Company's 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. Directors and officers are subject to a black-out period until 24 hours after the Annual Filings have been filed. Other than the business developments that have previously been disclosed and filed on SEDAR, the Company confirms that there have been no material business developments
About Buchans Wileys
Buchans Wileys is a public reporting company in British Columbia and Alberta, focused on mineral exploration in Newfoundland, Canada. For more information on Buchans Wileys please contact Mark Wettreich at (647) 931-9411 or by email at [email protected]
Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and future trading in the common stock of Buchans Wileys Exploration Inc and the raising of additional capital and the future development of the business. The forward-looking information is based on certain key expectations and assumptions made by the company's management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward looking information because the company can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and the company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
SOURCE: Buchans Wileys Exploration Inc.