Alchemist Mining Inc. Provides Update on Annual Financial Statements

VANCOUVER, BC / ACCESSWIRE / August 30, 2019 / Alchemist Mining Inc. (CSE:AMS) ("AMS" or the "Company") announces that, due to the untimely deaths of two of the CFO's family members, the Company was unable to file its audited annual financial statements, management's discussion and analysis and related Chief Executive Officer and Chief Financial Officer certificates for the year ended April 30, 2019 (collectively, the "Required Filings") before the August 28, 2019 filing deadline.

The Company's stock remains halted by the Canadian Securities Exchange due to its fundamental change application.

The Company anticipates that it will be in a position to remedy the default by filing the Required Filings by September 30, 2019.

On Behalf of the Board,

Paul Mann, CEO
Alchemist Mining Inc.

For further information on this release, please contact:

Investors@alchemistinc.ca
604-601-2093

About Alchemist Mining Inc.

Alchemist's goal is to be a global provider of technology solutions to the cannabis sector. We are primarily focused on investing and building a sustainable portfolio of business entities, by actively identifying opportunities in the developing global cannabis market, through a combination of acquisitions, incubations and investments, with a goal to create shareholder value.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Notice Regarding Forward Looking Statements

This press release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "intends", "should", "believe" and similar expressions are intended to identify forward-looking statements. Forward-looking statements in this press release include statements regarding: the anticipated timing of the Company's filing the Required Filings. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties, including: that the Required Filings will be filed in accordance with the timeline expected by the Company; that the Company will not be able to execute its proposed business plan in the time required or at all due to regulatory, financial or other issues; that the Company's competitors may develop competing technologies; changes in regulatory requirements; and other factors beyond the Company's control. Additional risk factors are included in the Company's Management's Discussion and Analysis, available under the Company's profile on www.sedar.com. The forward-looking statements are made as at the date hereof and the Company disclaims any intent or obligation to publicly update any forward-looking statements, where because of new information, future events or results, or otherwise, except as required by applicable securities laws.

SOURCE: Alchemist Mining Inc.