/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY
CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./
CALGARY, April 29, 2020 /CNW/ - Petro-Victory Energy Corp.
("Petro-Victory" or the "Company") (TSX-V: VRY)
announces that due to logistics and delays caused by the COVID-19
virus, it is relying on the exemption provided in Alberta Blanket
Order 51-517 Temporary Exemption from Certain Corporate Finance
Requirements (the "Alberta Order") of the Alberta Securities
Commission and similar exemptions provided by the other
securities commissions to postpone the filing of the following
continuous disclosure documents (collectively the "Documents"):
- the Company's Annual Audited Financial Statements for the year
ended December 31, 2019, as required by section 4.2 of National
Instrument 51-102 - Continuous Disclosure Obligations ("NI
51-102"); and
- the Company's Management Discussion & Analysis for the year
ended December 31, 2019, as required by section 5.1(2) of NI
51-102; and
- the Company's Statement of Reserves Data and Other Oil and Gas
Information, Report on Reserves Data by Independent Qualified
Reserves Evaluator, and Report of Management and Directors on Oil
and Gas Disclosure for the year ended December 31, 2019, as required by section 2.1 of
National Instrument 51-101 - Standards of Disclosure for Oil and
Gas Activities.
According to the Alberta Order during the period from
March 23, 2020 to June 1, 2020, a person or company required to
make certain filings as described in the Alberta Order has an
additional 45 days from the deadline otherwise applicable under
Alberta securities laws to make
the filing. Petro-Victory expects to file the Documents by no later
than June 12, 2020.
Until the Company has filed the Documents, members of the
Company's management and other insiders are subject to an insider
trading black-out period as per its internal Insider Trading Policy
that is consistent with the principles in Section 9 of National
Policy 11-207 - Failure-to-File Cease Trade Orders and
Revocations in Multiple Jurisdictions. Until the Company has filed
the required Documents, members of the Company's management and
other insiders will observe a trading blackout consistent with
the principles in Section 9 of National Policy 11-207 -
Failure-to-File Cease Trade Orders and Revocations in Multiple
Jurisdictions.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities, in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction. The
securities have not been and will not be registered under the
United States Securities Act of 1933, as amended, or any state
securities laws and may not be offered or sold within the United States unless an exemption from
such registration is available.
Cautionary Note
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Petro-Victory Energy Corp.