Nebu Resources Inc. Provides Update on the Timing of Corporate Filings and Other Matters
Toronto, Ontario--(Newsfile Corp. - March 27, 2020) - Nebu Resources Inc. (TSXV: NBU) ("Nebu" or the "Company") announces that in accordance with Ontario Instrument 51-102 "Temporary Exemptions from Certain Finance Requirements" enacted by the Ontario Securities Commission to provide certain temporary relief on timing of filing requirements as a result of business interruptions caused by the coronavirus disease 2019 (Covid-19) outbreak, the Company announces the following in accordance with such instrument and enactment:
(i) The Company is seeking exemptive relief regarding the filing requirements of both the annual financial statements required by Section 4.2 of National Instrument 51-102 and the accompanying annual management's discussions & analysis requirements of subsection 5.1(2) of National Instrument 51-102 (collectively, the "Filing Materials");
(ii) The Company confirms that management and other insiders are subject to an insider 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 ("National Policy 11-207") as applicable,
(iii) The Company estimates that the Filing Materials are expected to be filed on or before April 20, 2020; and
(iv) The Company confirms that there are no new material business developments since the date of the last annual financing statement other than the "Business Combination" and related details as defined, described and announced by the Company in its press release dated February 7, 2020 (the "Business Combination Press Release") available on www.SEDAR.com, the Company confirms that all matters related to such Business combination are proceeding as described in the Business Combination Press Release and it expects to disclose further updates on such matters in subsequent press releases in the near future.
The Common Shares of Nebu will remain halted pending the review of the proposed transaction and change of business by the TSXV and the CSE, as applicable.
For further information please contact:
Paul Crath
Interim Chief Executive Officer and Director
Nebu Resources Inc.
Telephone: 416-845-7289 (Canada) 347-835-9032 (USA)
Forward Looking Information
This news release contains certain forward-looking statements that reflect the current views and/or expectations of management with respect to performance, business and future events, including but not limited to express or implied statements and assumptions regarding the Company's intention to negotiate for or complete the Transaction. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. In particular, there is no guarantee that the parties will successfully negotiate and enter into a definitive agreement or complete the Transaction contemplated herein, that the Company's due diligence will be satisfactory or that the Company will obtain any required shareholder or regulatory approvals, including approval of the TSX Venture Exchange . Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
Neither the TSX Venture Exchange nor its Regulations 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/53896