Advantagewon Oil Corp., Postponement of Filing of 2019 Audited Financial Statements

Toronto, Ontario--(Newsfile Corp. - April 22, 2020) - Advantagewon Oil Corp., (CSE: AOC) (OTC Pink: ANTGF) (the "Corporation", "Advantagewon", "AOC") announces that the Corporation will not be in a position to file its audited annual financial statements for the fiscal year ended December 31st , 2019 and the related management's discussion and analysis, as required by Part 4 and Part 5 of National Instrument 51-102: Continuous Disclosure Obligations (collectively, the "Annual Filings") by the filing deadline of April 30th, 2020.

The challenges posed by COVID-19 have resulted in a delay in the finalization and filing of the Annual Filings. However, the Corporation's Board of Directors and its Management confirm that they are working expeditiously to meet the Corporation's obligations relating to the filing of the Corporations 2019 Annual Filings. Currently, the Corporation anticipates being in a position to both complete and file the Corporation's 2019 Audited Financial Statements at some point by the week of May 18th, 2020.

This news release is being issued in accordance with the blanket relief of a 45-day extension, provided by Canadian Securities Administrators and Ontario Instrument 51-502: Temporary Exemption from Certain Corporate Finance Requirements, for periodic filings normally required to be made by issuers during the period from March 23, 2020 to June 1, 2020.

The Corporation confirms that its management and other insiders are and will be subject to an insider trading black-out policy that reflects the principles in section 9 of National Policy 11-207: Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions, such that they are in a black-out period until the end of the second trading day after the Annual Filings have been disclosed by way of a news release.

About Advantagewon Oil Corp.

Advantagewon is focused on building consistent cash flow from low cost, low risk oil wells. Advantagewon's common shares are listed on the OTC Markets in the United States and on the Canadian Securities Exchange ("CSE") in Canada. Advantagewon is a member of the CSE Composite Index (CSE: AOC). For more information please visit www.aoc-oil.com

For further information please contact:

Mr. Stephen Hughes
CEO & Director
Advantagewon Oil Corp.
T: (587) 580-9344

Mr. Frank Kordy
Secretary & Director
Advantagewon Oil Corp
T: (647) 466-4037

Forward-Looking Statements

Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. We seek safe harbor.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54779

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