Vancouver, British Columbia / September 23, 2020 – Usha Resources Ltd. (“USHA” or the “Company”) (TSXV: USHA) announces an update to the filing of the Company’s interim financial statements for the three months ended June 30, 2020 (the “Interim Filings”), as previously announced in the Company’s news release dated August 24, 2020. 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”) has extended the filing date of the Interim Filings to October 15, 2020.
The Company will 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 by 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.