Toronto, Ontario--(Newsfile Corp. - April 28, 2020) - Satori Resources Inc. (TSXV: BUD) ("Satori" or the "Company") announces that pursuant to an Order issued by the Chief Provincial Health Officer of Manitoba, Satori's operations is a prescribed business that is permitted to remain open during this period of time that special measures are being taken to curve the Covid-19 virus.
As spring thaw approaches, the Company continues to work with Dr. Todd Harvey, Process Engineer, in its evaluation of a tailings extraction operating using gravity concentration methods. Additionally, the Company has been working with the Environmental Approvals Branch of Manitoba Conservation and Climate in an attempt to complete a gap analysis of environmental work required to be completed, based on a License issued by the Clean Environment Commission for the Tartan Lake Gold Mine Project in 1987. Lastly, the Company continues to assess the exploration upside on the Tartan Gold Mine Lake Property, and it remains in discussions with various potential transactional entities.
On March 23, 2020, the Canadian Securities Administrators (CSA) published a blanket relief providing Issuers with a 45-day filing extension for filings due on or before June 1, 2020, in order to allow Issuers the time needed to focus on the many other business and financial reporting implications of COVID-19. Satori will rely on this exemption with respect to filing of its annual financial statements and accompanying management's discussion and analysis and related CEO and CFO certifications for the financial year ended December 31, 2019 (collectively "Annual Filings"), all in accordance with Ontario Instrument 51-502 Temporary Exemption from Certain Corporate Finance Requirements. The Company has been working diligently and expeditiously with its auditors to file the Annual Filings on or around May 15, 2020, but in any event, no later than May 22, 2020.
The Company confirms that its management and other insiders will be subject to a 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. The Company further confirms that since the filing of its interim consolidated financial statements for the nine months ended September 30, 2019, there have been no material business developments other than those disclosed through news releases.
ABOUT SATORI RESOURCES INC.
Satori is a Toronto-based mineral exploration and development company whose primary property is the Tartan Lake Gold Mine Project (100% interest), located in the prolific Flin Flon Greenstone Belt, Manitoba.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Mr. Pete Shippen
Chair, Satori Resources Inc.
Jennifer Boyle, B.A., LL.B
President and Chief Executive Officer
Satori Resources Inc.
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CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release of Satori contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Satori's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.
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