Vancouver, BC, Canada, July 30, 2020 – Cascadero Copper Corporation ("Cascadero") announces that, due to delays caused by Covid-19, it will be relying on BC Instrument 51-517 – Temporary Exemption from Certain Corporate Finance Requirements with Deadlines during the Period from June 2 to August 31, 2020 (and similar exemptions provided by other relevant Canadian securities regulators) to delay the filing of its interim financial statements for the quarter ended May 31, 2020 and the related management's discussion and analysis and certifications (collectively the "Q2 2020 documents") as required under National Instrument 51-102 – Continuous Disclosure Obligations. The exemption provides Cascadero with an additional 45 days from the usual 60-day deadline of July 30, 2020 to complete its second quarter statutory filings.
Accordingly, as required by the conditions of the extension, Cascadero's management and other insiders will be subject to a trading black-out that reflects the principles in Section 9 of National Policy 11-207 – Failure to File Cease Trade Orders and Revocations in Multiple Jurisdictions until its financial statements are filed. Cascadero estimates that its Q2 2020 documents will be filed on or before August 21, 2020. Other than as previously disclosed by Cascadero news releases, there are no other material business developments since the date of Cascadero's filing of its interim financial statements for its first quarter ended February 29, 2020.
Cascadero also announces that it will be relying on the exemption provided in BC Instrument 51-516 – Temporary Exemptions from Certain Requirements to File or Send Securityholder Materials (and similar exemptions provided by other relevant Canadian securities regulators) to delay the filing of its executive compensation disclosure as required by National Instrument 51-102 – Continuous Disclosure Obligations. Cascadero expects to include its executive compensation disclosure in the AGM information circular to be sent to shareholders and filed on SEDAR later this year.
For more information, contact:
Phone: (604) 985-3327
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This news release contains forward-looking statements and information that are based on the beliefs of management and reflect Cascadero's current expectations. When used in this news release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this news release includes information relating to the expected filing of Cascadero's Q2 2020 documents and executive compensation disclosure and the sending and filing of an AGM information circular. The forward-looking information is based on certain assumptions, which could change materially in the future. Such statements and information reflect the current view of Cascadero with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Cascadero's actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the risk that Cascadero is unable to complete the filing of its Q2 2020 documents and executive compensation disclosure, the filing and sending of its AGM information circular or the convening of an AGM this year. When relying on Cascadero's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Cascadero has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to above will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF CASCADERO AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE CASCADERO MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.