St-Georges Files 2020 Audited Financial Statements

2021-07-16 / @thenewswire

(TheNewswire)

Montréal – TheNewswire - July 16, 2021 – St-Georges Eco-Mining Corp. (CSE:SX) (CNSX:SX.CN) (OTC:SXOOF) (FSE:85G1) is pleased to disclose that it has filed its 2020 Year End Audited Financial Statements on SEDAR. The Financial Statements includes a restatement of 2019 Year End Audited Financial Statements.

The company has incurred losses of $14,096,033 for the year 2020 compared to losses of $2,892,869 (restated) for the year 2019.

All digital assets held by the Company’s subsidiaries have been written off to NIL.

The principal amount of £2,151,409 a fair value of $2,238,797 of the convertible loan receivable from BWA has been written off. The Company recognized a loss on the change in fair value of the convertible loan of $NIL.

On May 3, 2021, the British Columbia Securities Commission (the “BCSC”) approved a MCTO imposed against the Chief Executive Officer, Mr. Herb Duerr and Chief Financial Officer, Mr. Richard Barnett, of the Company precluding them from trading securities of the Company. The MCTO required the Annual Financial Filings to be filed on or before July 2, 2021. On July 6, 2021, after review, the BCSC granted a further extension for the filing of the Annual Financial Filings until July 15, 2021, as well as an extension for the filing of the Company’s interim financial statements and corresponding management’s discussion and analysis for the three-month period ended March 31, 2021, including the related CEO and CFO certifications which must be filed before July 20, 2021.

The Company confirms that there is no other material information relating to its affairs that has not been generally disclosed.

ON BEHALF OF THE BOARD OF DIRECTORS

“ Frank Dumas”

FRANCOIS (FRANK) DUMAS

Director &COO

About St-Georges

St-Georges is developing new technologies to solve some of the most common environmental problems in the mining industry. The Company controls all the active mineral tenures in Iceland. It also explores for nickel & PGEs on the Julie Nickel Project and the Manicougan Palladium Project on the Québec’s North Shore. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1.

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.