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ScoZinc Announces a Rescheduling of Its 2019 Financial Results and a Change to the Terms of Its Non-brokered Private Placement Caused by COVID-19
Halifax, Nova Scotia--(Newsfile Corp. - April 3, 2020) - ScoZinc Mining Ltd. ( TSXV: SZM ) ...
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[{"type":"text","content":"ScoZinc Announces a Rescheduling of Its 2019 Financial Results and a Change to the Terms of Its Non-brokered Private Placement Caused by COVID-19Halifax, Nova Scotia--(Newsfile Corp. - April 3, 2020) - ScoZinc Mining Ltd. (TSXV: SZM) (\"ScoZinc\" or the \"Company\") announces that as a result of the COVID-19 Pandemic, the Ontario Securities Commission has provided relief in respect of certain securities filing requirements, and that ScoZinc will postpone its 2019 Annual Financial Statements and associated Management's Discussion and Analysis (\"MD&A\").The President and CEO, Mr. Mark Haywood, stated: \"In response to personnel safety concerns and logistical challenges caused by the COVID-19 Pandemic, we are postponing the filing of our MD&A and Audited Annual Financial Statements for the year ending December 31, 2019. Management believes that due to the various state of emergencies declared across Canada including Nova Scotia, British Columbia, and Ontario where we operate, and the associated restrictions imposed on our teams, we must delay our audit work to protect our workforce and the independent auditors to the greatest extent possible.\"This announcement is in connection with an Ontario Securities Commission (\"OSC\") order under Ontario Instrument 51-502 (\"OI 51-502\") dated March 23, 2020, pursuant to which all issuers required to make certain Ontario securities filings between March 23, 2020, and June 1, 2020, have an additional 45 days to make such filings from the deadline otherwise applicable to make such filings.ScoZinc will file its financial statements and MD&A as soon as possible, and in any event within the 45-day relief period provided by OI 51-502. The Company also confirms that its management and insiders are subject to an insider trading black-out policy that reflects the principles set out in section 9 of National Policy 11-207.Additionally, the Company notifies a change to the terms of its March 19, 2020 announced proposed non-brokered private placement of units of the Company (\"Units\") for aggregate proceeds of up to C$500,000 (the \"Offering\"). The terms of the Offering have been revised to consist of the sale of up to 1,666,667 Units at a price of C$0.30 per Unit. Each Unit will consist of one common share of the Company (a \"Common Share\") and a Common Share purchase warrant (a \"Warran...