Minera Alamos Postpones Filing 2019 Financial Statements and MD&A Due to Covid-19 Related Delays
Toronto, Ontario and Vancouver, British Columbia--(Newsfile Corp. - April 29, 2020) - Minera Alamos Inc. (TSXV: MAI) ("Minera" or the "Company") will postpone filing its annual financial statements and management's discussion and analysis for the year ended December 31, 2019 (collectively the "2019 annual documents"), due to logistics and delays caused by the COVID19 pandemic. Minera is relying on exemptive relief granted by Canadian securities regulatory authorities that allows the filing delay of its annual documents, required by National Instrument 51-102 by April 29, 2020. In response to the COVID19 pandemic, securities regulatory authorities in Canada have granted a blanket exemption allowing issuers an additional 45 days to complete their regulatory filings.
Despite the efforts of Company personnel and the external auditors operating an audit with restriction on typical activities during the Covid-19 outbreak, Minera estimates that its 2019 annual documents will be available for filing within a matter of days. Until such time as the 2019 annual documents are filed, Minera's management and other insiders are subject to a trading blackout that reflects the principles contained in section 9 of National Policy 11-207 - Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.
There have been no material business developments since the date of the last interim financial statements, filed on November 28, 2019, a copy of which is available on SEDAR at www.sedar.com.
For Further Information Please Contact:
Victoria Vargas de Szarzynski, VP Investor Relations
About Minera Alamos Inc.:
Minera Alamos is a gold development company poised to join the ranks of gold producers in 2020. The Company has a portfolio of high-quality Mexican assets, including the 100%-owned Santana open-pit, heap-leach development project in Sonora currently under construction, which is expected to have its first gold production in late 2020 or early 2021. The La Fortuna open pit gold project in Durango (100%-owned) has an extremely robust and positive preliminary economic assessment (PEA) completed and is nearing the end of the permitting process. A construction decision on La Fortuna could be made in late 2020 or early 2021 and highlights the organic growth the existing projects can provide to the overall production profile. Minera Alamos is built around its operating team that together brought 3 mines into production over the last 12 years.
The Company's strategy is to develop low capex assets while expanding the project resources and pursue complementary strategic acquisitions.
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