Vancouver, British Columbia–(May 15, 2020) – Phoenix Gold Resources Corp. (the
“Company”) (TSXV: PXA) announces that, due to the COVID-19 pandemic, the Company
intends to rely on the temporary blanket relief (“Relief”) for market participants published by the
Canadian Securities Administrators, which Relief provides 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 the Relief, in accordance with Ontario Instrument 51-102 Temporary
Exemption from Certain Corporate Finance Requirements, Alberta Blanket Order 51-517
Temporary Exemption from Certain Corporate Finance Requirements, and BC Instrument 51-
515 – Temporary Exemption from Certain Corporate Finance Requirements, with respect to the
filing of its audited annual consolidated financial statements and accompanying management’s
discussion and analysis and related CEO and CFO certificates for the fiscal year ended January
31, 2020 (collectively, the “Annual Filings”) and the quarterly consolidated financial statements
and accompanying management’s discussion and analysis and related CEO and CFO certificates
for the financial period for the period ended April 30, 2020 (the “Q1 Filings”), which are
required to be filed under Sections 4.2, 4.3 and 5.1(2) of National Instrument 51-102 –
Continuous Disclosure Obligations.
The Company is continuing to work diligently and expeditiously to file the Annual Filings and
the Q1 Filings and expects to have them filed on or prior to the extended filing deadline of July
Until the Annual Filings and the Q1 Filings are filed, management and other insiders of the
Company are 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
The Company confirms that since the filing of its consolidated interim financial statements for the
period ended October 31, 2019, there have been no material business developments other than
those that have been publicly disclosed as required under applicable securities laws.
For further information:
Chief Financial Officer
Cautionary Statement Regarding Forward-Looking Information
This news release may contain “forward-looking information” and “forward-looking
statements” within the meaning of applicable Canadian securities legislation. All information
contained herein that is not historical in nature may constitute forward-looking information.
Forward-looking statements herein include but are not limited to statements relating to the
expected date for filing of the Annual Filings and the Q1 Filings, and are necessarily based upon
a number of assumptions that, while considered reasonable by management, are inherently
subject to business, market and economic risks, uncertainties and contingencies that may cause
actual results, performance or achievements to be materially different from those expressed or
implied by forward-looking statements. Except as required by law, the Company disclaims any
obligation to update or revise any forward-looking statements. Readers are cautioned not to put
undue reliance on these forward-looking statements.
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 press release.
Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any
failure to comply with this restriction may constitute a violation of U.S. securities laws.