CYG Opportunities Inc. Announces Temporary Extension for Filing of 2019 Year-End Financial Information

CALGARY, AB / ACCESSWIRE / April 28, 2020 / CYG Opportunities Inc. ("CYG" or the "Corporation") (TSXV:PFC) announces the following regarding the timing for the filing of the 2019 Annual Financial Statements Management Discussion & Analysis and certain other documents (collectively the "Documents"). Under the continuous disclosure rules of the Alberta Securities Act, CYG is required to file its Documents within 120 days of the December 31, 2019 year-end. As a result of the COVID-19 pandemic, pursuant to Blanket Order 51-517, the Alberta Securities Commission will allow a temporary 45-day filing extension to June 15, 2020.

In order to comply with the temporary filing extension, the Corporation confirms the following:

  1. it will postpone the filing of its Annual Audited Financial Statements for the year ended December 31, 2019 (section 4.2 of National Instrument 51-102) and its Annual MD&A (section 5.1(2) of National Instrument 51-102) (collectively, the "Documents")‎;
     
  2. that its management and other insiders are subject to an insider trading black-out policy that reflects the principles in section 9 of National Policy 11-207;
     
  3. the required filing of the Documents is expected to be filed no later than June 15, 2020;
     
  4. no material business developments have occurred since the filing of the Q3 2019 Financial Statements and Management Discussion & Analysis on November 29, 2019.

    Management has not determined what impact, if any, will result from the COVID-19 pandemic.

About CYG Opportunities Inc.

CYG is a Capital Pool Company as defined in Policy 2.4 of the TSX Venture Exchange (the "Exchange").

CYG's head office is in Calgary, Alberta and its common shares are listed for trading on the Exchange under the symbol "CYG".

Forward-Looking Statements

This press release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of CYG. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Any forward-looking statements are made as of the date of this release and, other than as required by applicable securities laws, CYG does not assume any obligation to update or revise them to reflect new events or circumstances.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For More Information Contact

Kenneth L. DeWyn, President & CEO
CYG Opportunities Inc.
Suite 900, 903 - 8 Avenue S.W.
Calgary, Alberta, Canada T2P 0P7
Email: kdewyn@shaw.ca

SOURCE: CYG Opportunities Inc.



View source version on accesswire.com:
https://www.accesswire.com/587445/CYG-Opportunities-Inc-Announces-Temporary-Extension-for-Filing-of-2019-Year-End-Financial-Information

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