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VANCOUVER, April 28, 2020 /CNW/ - Rokmaster Resources
Corp. ("Rokmaster" or the "Company") announces that
due to delays associated with the COVID-19 pandemic, the Company
will not be able to file its annual consolidated financial
statements and accompanying management's discussion and analysis
and related CEO and CFO certifications for the year ended
December 31, 2019 (collectively, the
"Annual Filings"), prior to April 29,
2020, in accordance with Sections 4.2 and 5.1(2) of National
Instrument 51-102 – Continuous Disclosure Obligations.
On March 18, 2020, the Canadian
Securities Administrators (CSA) announced that they would provide
issuers 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 them
to be filed on or prior to the extended filing deadline of
June 15, 2020.
Until the Annual Filings are filed, management and other
insiders of the Company continue to be subject to a 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.
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 and
stock exchange requirements, and the developments disclosed
below.
Other Corporate Developments:
The Company is pleased to announce that it has increased its
previously announced non-brokered financing involving the sale of
flow-through units from up to 8,000,000 to up to 8,888,889
flow-through units (the "Flow-Through Units") for gross
proceeds of up to $1,800,000 to up to
$2,000,000, respectively. The terms
and use of proceeds from the sale of the Flow-Through Units will be
the same as those described in the Company's news release dated
April 27, 2020. The financing remains
subject to regulatory approval.
Lastly, the Company has received notice of the filing of a
Notice of Civil Claim in the Supreme Court of BC in respect of a
claim for $111,863.73 made by Somji
Consulting Ltd. ("Somji Consulting"), a consulting company
controlled by former Rokmaster director Feisal Somji, in respect of monies that Somji
Consulting alleges are owed to it pursuant to a prior consulting
agreement between Rokmaster and Somji Consulting. Rokmaster
disputes the amount claimed by Somji Consulting, and it intends to
file a response to this matter.
About Rokmaster
Rokmaster's focus is on exploring for base and precious metals,
and its flagship asset is its option to earn 100% of the Revel
Ridge polymetallic precious metals project situated in the prolific
Kootenay Arc. Please refer to the technical report titled "Updated
Technical Report on the Revel Ridge Property (formerly J&L
Property), Revelstoke Mining Division, British Columbia, Canada" dated February 25, 2020 with an effective date of
January 29, 2020, which the Company
has filed on SEDAR.
On behalf of the Board of Directors,
"John Mirko"
John
Mirko, President and Chief Executive Officer.
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.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS:
This news release may contain forward-looking information within
the meaning of applicable securities laws ("forward-looking
statements"). Forward-looking statements are statements that are
not historical facts and are generally, but not always, identified
by the words "expects," "plans," "anticipates," "believes,"
"intends," "estimates," 'projects," "potential" and similar
expressions, or that events or conditions "will," "would," "may,"
"could" or "should" occur. These forward-looking statements are
subject to a variety of risks and uncertainties which could cause
actual events or results to differ materially from those reflected
in the forward-looking statements, including, without limitation:
risks related to fluctuations in metal prices; uncertainties
related to raising sufficient financing to fund the planned work in
a timely manner and on acceptable terms; changes in planned work
resulting from weather, logistical, technical or other factors; the
possibility that results of work will not fulfill expectations and
realize the perceived potential of the Company's properties; risk
of accidents, equipment breakdowns and labour disputes or other
unanticipated difficulties or interruptions; the possibility of
cost overruns or unanticipated expenses in the work program; the
risk of environmental contamination or damage resulting from
Rokmaster's operations and other risks and uncertainties. Any
forward-looking statement speaks only as of the date it is made
and, except as may be required by applicable securities laws, the
Company disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information,
future events or results or otherwise.
SOURCE Rokmaster Resources Corp.