MAYA GOLD & SILVER INC. ANNOUNCES NAME CHANGE AND POSTPONEMENT OF FILING ITS Q2 FINANCIAL STATEMENTS
July 30 2020 - 7:00AM
Maya Gold & Silver Inc. ( ”Maya” or the “Corporation”) (TSX:
MYA) wishes to announce that it has received the approval from
the Toronto Stock Exchange (the “Exchange”) to change the name of
the Corporation from Maya Gold & Silver Inc. to Aya Gold &
Silver Inc./Aya Or & Argent Inc. Effective at market open
on July 31, 2020, the Corporation will begin trading under its new
name of Aya Gold & Silver Inc./Aya Or & Argent Inc.
The Corporation has also received the approval from the Exchange
to change the trading symbol to “AYA”. The Corporation’s web domain
will be changed to www.ayagoldsilver.com. Shareholders are not
required to take any action in connection with the change of name
and share certificates bearing the name “Maya Gold & Silver
Inc.” remain valid and need not be exchanged.
Postponement of filings of its Q2 financial statements and
MD&A
The Corporation also wishes to announce that it has postponed
the filing of its 2020 second quarter financial statements, and
management's discussion and analysis for the quarter ended June 30,
2020 (collectively the “2020 Q2 documents”), due to logistics and
delays caused by the COVID-19 pandemic. The Corporation is relying
on exemptive relief pursuant to decision N°2020-PDG-00037 issued by
the Autorité des marchés financiers ("AMF Temporary Exemption"),
which provides for up to a 45-day extension for periodic filings
normally required to be made by reporting issuers between June 2,
2020 and August 31, 2020.
The Corporation estimates that its 2020 Q2 documents will be
available for filing at its earliest opportunity, which is expected
to occur by end of September 2020. Until such time, the
Corporation’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.
The lockdown resulting from the outbreak of COVID-19 pandemic
has created unprecedented disruptions in the global economy and
stock markets. The Corporation’s Board of Directors and Management
continue to take all necessary precautions to ensure the health of
its employees and consultants and to manage the short-term
challenges to its business.
There have been no material business developments since the date
of the First Quarter 2020 Financial Results, filed on June 30,
2020, other than those announced in subsequent press releases,
copies of which are available on SEDAR at www.sedar.com.
About Maya Gold & Silver Inc.
Maya Gold & Silver Inc. is a publicly traded Canadian
company focused on the operation, exploration, acquisition and
development of silver and gold deposits. Maya is currently
operating mining and milling facilities at its Zgounder Silver
Mine, an 85%-15% joint venture between its subsidiary, ZMSM, and
the Office National des Hydrocarbures et des Mines (“ONHYM”)
of the Kingdom of Morocco.
Its mining portfolio also includes the Boumadine polymetallic
deposit located in the Anti-Atlas Mountains of Eastern Morocco
which is also a joint venture with ONHYM wherein Maya retains an
85% ownership. Additionally, the Corporation’s portfolio includes
the Amizmiz and Azegour properties, both being 100% owned, with
gold, tungsten, molybdenum and copper occurrences covering over 100
square kilometres in a historical mining district of Morocco.
For additional information, please visit Maya’s website at
www.ayagoldsilver.com
Or contact:
Benoit La Salle, FCPA FCA President & CEO Tel:
+1 (514) 951-4411 blasalle@mayagoldsilver.com |
Alex Ball Corporate Development & IR Tel: +1 (647)
919-2227 aball@mayagoldsilver.com |
Forward-Looking Statements
This press release contains "forward-looking information" within
the meaning of Canadian securities legislation. All information
contained herein that is not clearly historical in nature may
constitute forward-looking information. Generally, such
forward-looking information can be identified by the use of
forward-looking terminology such as “will”, “continue”, “provide”,
“present”, “reasonable”, “established”, “has”, “demonstrate”,
“potential”, or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would" or
"might". Forward-looking information is subject to known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
the Corporation to be materially different from those expressed or
implied by such forward-looking information, including but not
limited to: (i) volatile stock price; (ii) the general global
markets and economic conditions; (iii) the possibility of
write-downs and impairments; (iv) the risk associated with
exploration, development and operations of mineral deposits
including the accuracy of the current mineral reserve and mineral
resource estimates of the Corporation (including, but not limited
to, ore tonnage and ore grade estimates) and mine plans for the
Corporation’s mining operations (including, but not limited to,
throughput and recoveries being affected by metallurgical
characteristics); (v) the risk associated with establishing title
to mineral properties and assets including permitting, development,
operations and production from the Corporation’s operations being
consistent with expectations and projections; (vi) fluctuations in
commodity prices and other risks and factors described or referred
to in the section entitled "Risk Factors" in the MD&A of the
Corporation and which is available at www.sedar.com, all of which
should be reviewed in conjunction with the information found in
this news release
Although the Corporation has attempted to identify important
factors that could cause actual results to differ materially from
those contained in the forward-looking information, there may be
other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such forward-looking information. Such
forward-looking information has been provided for the purpose of
assisting investors in understanding the Corporation's business,
operations and exploration plans and may not be appropriate for
other purposes. Accordingly, readers should not place undue
reliance on forward-looking information. Forward-looking
information is given as of the date of this press release, and the
Corporation does not undertake to update such forward-looking
information except in accordance with applicable securities
laws.
Alex Ball
Maya Gold & Silver
1 (647) 919-2227
aball@mayagoldsilver.com