Camrova announces Postponement of Annual General Meeting, Postponement of Executive Compensation Disclosure and Postponement of Las Vacas Asset Purchase Agreement

 

TORONTO, June 09, 2020 (GLOBE NEWSWIRE) -- Camrova Resources Inc. ("Camrova" or the "Company") (TSX-V: CAV; OTC: BAJFF; SSE: CAVCL.CAV US$ - Chile) wishes to announce the expected timing of holding its annual general meeting of shareholders in 2020 (the "AGM") the filing of its executive compensation disclosure and the Las Vacas asset purchase agreement (the”APA”) due to the COVID-19 pandemic.

Camrova expects to hold its AGM prior to the end of December, 2020 at a time when COVID-19 travel restrictions have been relaxed. The Las Vacas APA expired on June 1 2020. Since Covid 19 restrictions prevent normal due diligence activities the parties have agree that the APA may be reinstated after the Covid 19 epidemic has subsided and arrangements for financing resume.

The Company is relying on the blanket relief provided by the TSX Venture Exchange, the Canadian Securities Administrators and Ontario Securities Commission Ontario Instrument 51-502 – Temporary Exemption from Certain Corporate Finance Requirements with respect to its obligation to file a statement of executive compensation within 180 days of the Company's year end, as set out in section 9.3.1(2.2) of National Instrument 51-102 – Continuous Disclosure Obligations, and will include such statement of executive compensation in the information circular to be mailed to security holders and filed on SEDAR in connection with its AGM.

The Company confirms that its annual financial statements, related management's discussion and analysis and certifications for the year ended December 31, 2019 were filed on March 13, 2020 and its quarterly financial statements, related management's discussion and analysis and certifications for the three month period ended March 31, 2020 were filed on April 27, 2020, copies of which are available on SEDAR at www.sedar.com.

Camrova Resources Inc.

Camrova is a Canadian mining company whose common shares are listed on the TSX-V. Presently the company is in discussion with interested parties regarding it’s smelter slag processing project in Chile using the Las Vacas Flotation Plant for which the Purchase Agreement expired and maybe renewed.The parties remain on good terms and intend to extend the agreement at the appropriate time.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information, please contact:

Camrova Resources Inc.

Tom Ogryzlo Interim Chief Executive Officer Tel: 416-271-0879 Email: info@camrovaresources.com

Kris Misir Chief Financial Officer Tel: 647-632-3444 Email: kris.misir@camrovaresources.com

Cautionary Statements

Certain statements contained in this press release constitute "forward-looking information", within the meaning of applicable securities legislation, which may relate to future events or future performance. While these forward-looking statements and any assumptions upon which they are based are made in good faith, actual results will almost always vary, sometimes materially from estimates, predictions, projections assumptions or other future results suggested herein. When used in this press release, words such as "could", "intend", "expect", "believe", "will", "projected", "estimated" and other similar expressions and statements are intended to identify forward-looking statements. In particular, this press release contains forward-looking information relating to the anticipated filing of the Company's executive compensation for the year ended December 31, 2019 and the holding of its AGM. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements and are based on management of Camrova's current belief or assumptions and actual or future results may differ materially. These risks, uncertainties and factors may include, but are not limited to: general business, economic competitive, political, regulatory and social uncertainties, and in particular, uncertainties relating to COVID-19, risks related to factors beyond the control of the Company, including risks related to COVID-19, risks related to the Company's shares, including price volatility due to events that may or may not be within such parties' controls, including risks related to COVID-19, the ability to raise capital, disruptions or changes in the credit or securities markets; global economic climate; regulatory risks;. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information.

The preceding list of risks, uncertainties, assumptions and other factors are not exhaustive. Information contained in this press release is made as of the date hereof, and Camrova is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

This press release does not constitute an offer, invitation or recommendation to subscribe for or purchase any securities and neither this press release nor anything contained in it shall form the basis of any contract or commitment. In particular, this press release does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal. 

The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or under the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly, within the United States, unless the securities have been registered under the Securities Act or an exemption from the registration requirements of the Securities Act is available.

This document may not be distributed or released in the United States or through any U.S. newswire service.