Pasinex Announces Postponement in Filing of its Second Quarter Results for 2020

TORONTO, Aug. 28, 2020 (GLOBE NEWSWIRE) -- Pasinex Resources Limited (CSE: PSE) (FSE: PNX) (The “Company” or “Pasinex”) today announced that due to logistics and delays caused by the COVID-19 pandemic, the Company is relying on the British Columbia Securities Commission’s (the “Commission”) blanket order BCI 51-517 to postpone the filing of its second quarter financial statements and management’s discussion and analysis (collectively, the “Second Quarter Filings”) for the three and six months ended June 30, 2020.

In response to the COVID-19 pandemic, the Commission and other securities regulatory authorities in Canada have granted a blanket exemption allowing issuers an additional 45 days to complete their regulatory filings that were otherwise due during the period June 2, 2020 to August 31, 2020.

The Company’s joint venture in Turkey continues to operate with a number of precautionary measures that were previously implemented. As a result of travel restrictions Pasinex employees have been unable to visit the joint venture operation and head office. The financial reporting process continues to be slowed as a result of inefficiencies of working remotely caused by limited access to paper-based supporting evidence, and time changes and language barriers that are more easily overcome when onsite visits are allowed. Currently, the Company anticipates being able to complete and file its Second Quarter Filings by October 9, 2020.

Until the Company has filed and announced the required quarterly filing, members of management and other insiders 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 Jurisdictions.

There have been no material business developments since the date of the last interim financial statements, filed July 14, 2020, a copy of which is available on SEDAR at www.sedar.com.

Visit our web site at: www.pasinex.com

On Behalf of the Board of Directors                               
PASINEX RESOURCES LIMITED

“Victor Wells”

The CSE does not accept responsibility for the adequacy or accuracy of this news release.

This news release includes forward-looking statements that are subject to risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements.

All statements within, other than statements of historical fact, are to be considered forward looking. Although Pasinex believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not a guarantee of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, exploration results, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.