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King Global Ventures Provides Update on Filling of Annual Results
(via TheNewswire) Vancouver, B.C. - TheNewswire - June 1 , 2020 - King Global V...
About this update from King Global Ventures Inc.
[{"type":"text","content":"King Global Ventures Provides Update on Filling of Annual Results(via TheNewswire)\n \n \nVancouver, B.C. - TheNewswire - June 1, 2020 - King Global Ventures, Inc. (\"King\" or the \"Company\") (TSXV:KING) (OTC:MDLXF )\n\n\n \nFurther to the Company's press releases issued April 28, 2020 and May 11, 2020, the Company wishes to provide updated guidance with respect to the filing of its December 31, 2019 audited financial statements. As announced previously, the Company has taken advantage of the Covid -19 blanket filing extension which extended the Company's filing deadline to June 15, 2020.\n\n\n \nNicaragua still has implemented a lockdown in relation to the COVID-19 pandemic, which has impacted the Company's ability to obtain all of the information required for its year-end audit. The Company continues to work with its auditors to have the documents completed by June 15, 2020. \n\n\n \nThe Company further wishes to announce that the Company is postponing the reporting of its first quarter Financial Statements and Management's Discussion and Analysis (\"MD&A\") as a result of delays caused by the COVID-19 pandemic. The Company aims to file these documents by the under the terms of the 45-day extension announced by the Alberta Securities Commission under the \"ASC Blanket Order 51-517\", dated March 23, 2020.\n\n\n \nThe Company confirms that management and the Company's insiders remain subject to an Insider Trading Black Out period as per its internal Insider Trading Policy. \n\n\n \nSince the filing of its third quarter Financial Statements and MD&A in November 2019, the material change to the Company are:\n\n\n \n\n\n- the Company has acquired the York Gold Project in N.E. Quebec as per press release dated February 14, 2020.\n\n\n\n- the Company closed its private placement announced on May 6, 2020 and has issued 40 million units at $0.015 per unit for gross proceeds of $600,000. The proceeds from the offering will be used for general working capital, repayment of arms-length debt of approximately $84,000 and for resource project evaluation and acquisitions. None of the funds will be utilized to pay for management fees, to related parties or for investor relations activities. In connection with the financing, the Company has paid cash of $11,940 to certain member firms and has issued a total of 2,656,000 finders' warr...