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Usha Resources Announces Update to its Annual and Interim Filings

Usha Resources Ltd. (“USHA” or the “Company”) (TSXV: USHA) announces that, further to its news release of July 24, 2020, the Company is expecting to file its audited financial statements for the year ended March 31, 2020 (the “Annual Filings”) by the extension date of September 14, 2020 pursuant to BC Instrument 51-517 Temporary Exemption from Certain Corporate Finance Requirements with Deadlines during the Period from June 2 to August 31, 2020 (“BCI 51-517”) and continues to work diligently with its auditors to file the Annual Filings by September 14, 2020.

Update on Q1 Filing

The Company will also be relying on the temporary exemption pursuant to BCI 51-517 in respect to the following provisions:

  • the requirement to file interim financial statements for the three months ended June 30, 2020 (the “Financial Statements”) within 60 days after the end of the Company’s interim period as required by section 4.4(b) of National Instrument 51-102 Continuous Disclosure (“NI 51-102”);
  • the requirement to file management discussion and analysis (the “MD&A”) for the period covered by the Financial Statements within 60 days after the end of the Company’s interim period as required by section 5.1(2) of NI 51-102; and
  • the requirement to file certifications of the Financial Statements (the “Certificates” and together with the Financial Statements, the “Interim Filings”) pursuant to section 5.1 of National Instrument 52-109 Certification of Disclosure in Issuer’s Annual and Interim Filings and section 4.4(b) [being the filing deadline for interim financial statements] of NI 51-102.

The Company is continuing to work diligently to file the Interim Filings before September 30, 2020.

The Company confirms that there have been no material developments, other than those disclosed through news releases and material change reports, since the filing of its condensed interim financial statements for the period ended December 31, 2019.

Additionally, the Company advises that management and other insiders of the Company are subject to a trading black-out policy as described, in principle, in section 9 of National Policy 11-207, Failure to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.


“Deepak Varshney” CEO and Director

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.