Vital Energy Inc. Postpones Filing of 2019 Year-End Results
April 27 2020 - 1:50PM
Vital Energy Inc. ("
Vital" or the
“Corporation”) (
TSX-V: VUX)
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
securities commissions in British Columbia and Ontario) to postpone
the filing of certain continuous disclosure documents. As a result
of the COVID-19 pandemic, pursuant to the Alberta Order, the
Alberta Securities Commission will allow a temporary 45-day filing
extension to June 15, 2020.
In accordance with the Alberta Order, the
Corporation confirms the following:
- it will postpone the filing of its
Annual Audited Financial Statements for the year ended December 31,
2019 (section 4.2 of National Instrument 51-102), its Annual
MD&A (section 5.1(2) of National Instrument 51-102); and its
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 (section 2.1 of
National Instrument 51-101) (collectively, the
“Documents”);
- that until the Corporation has
filed the Documents, its management and other insiders are subject
to an insider trading black-out policy that reflects the principles
in section 9 of National Policy 11-207;
- the required filing of the
Documents is expected to be filed no later than June 15, 2020;there
have been no material business developments since the filing of
the Q3 2019 Financial Statements and Management Discussion &
Analysis on November 29, 2019, other than as a result of COVID-19,
the operations of the Corporation will be negatively impacted and
there will be a significant reduction in sales volumes and
revenues.
Vital is a publicly traded junior oil and gas
company whose primary focus is light and medium crude oil
production in Western
Canada.
For further information please contact:
Yingchuan Wu, PresidentTel: (403) 988-8286Fax:
(403) 699-6990
Cautionary Statement
Neither the TSX Venture Exchange nor its
Regulation Service Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. No stock exchange,
securities commission or other regulatory authority has approved
nor disapproved the information contained herein.
Forward Looking Statements
This news release contains forward-looking
statements relating to the future operations of the Corporation and
other statements that are not historical facts. Forward-looking
statements are often identified by terms such as "will", "may",
"should", "anticipate", "expects" and similar expressions. All
statements other than statements of historical fact, included in
this release, including, without limitation, statements regarding
future plans and objectives of the Corporation, are forward looking
statements that involve risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those
anticipated in such statements. Important factors that could cause
actual results to differ materially from the Corporation's
expectations are exploration risks detailed from time to time in
the filings made by the Corporation with securities
regulations.
The reader is cautioned that assumptions used in
the preparation of any forward-looking information may prove to be
incorrect. Events or circumstances may cause actual results to
differ materially from those predicted, as a result of numerous
known and unknown risks, uncertainties, and other factors, many of
which are beyond the control of Sundance. As a result, we cannot
guarantee that any forward-looking statement will materialize and
the reader is cautioned not to place undue reliance on any
forward-looking information. Such information, although considered
reasonable by management at the time of preparation, may prove to
be incorrect and actual results may differ materially from those
anticipated. Forward-looking statements contained in this news
release are expressly qualified by this cautionary statement. The
forward-looking statements contained in this news release are made
as of the date of this news release, and Sundance does not
undertake any obligation to update publicly or to revise any of the
included forward-looking statements, whether as a result of new
information, future events or otherwise, except as expressly
required by Canadian securities law.
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