Veta Resources Converts Note to Common Shares, Drops Interest in JOY Properties in Chile, and Provides Update on Financial Statements

Toronto, Ontario--(Newsfile Corp. - April 15, 2020) - Veta Resources Inc. ("Veta" or the "Company") announces that further to its press release dated December 23, 2019 it has converted the $200,000 convertible promissory note into 6,000,000 common shares in the capital of Veta.

The Company also announces that due to unprecedented circumstances relating to the access of capital as a result of the COVID-19 pandemic, it has dropped its interest in the JOY Properties located in Chile.

Veta also intends to participate in the blanket relief program announced on March 18, 2020 (the "Blanket Order") by the Canadian Securities Administrators (the "CSA") extending deadlines to file financial statements, Management Discussion and Analysis ("MD&A"), the Company confirms that is relying on the relief therein in respect of its annual 2019 financial statements and MD&A, which it expects to file by June 15, 2020. Until the Company has filed such financial statements and MD&A, insiders of Veta are subject to the Company's share trading and black-out policy.

Other than as previously disclosed by the Company and disclosed in this release, there have been no material business developments since the date of the interim financial statements that were filed on November 19, 2019.

For more information, please contact:

Brian Jennings, President and CEO
Phone: (647) 348-0600

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54480