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Vancouver, British Columbia – TheNewswire – June 12, 2020
Telson Mining Corporation (“Telson” or the “Company” (TSX Venture Exchange-TSN, OTC Pink-SOHFF, Frankfurt-TSGN (formerly SQ82)) (TSXV:TSN) (OTC:SOHFF) provides the afterward binding authoritative amend that it has requested a acting Management Cease Trade Adjustment (“MCTO”) from the British Columbia Balance Commission (“BCSC”) in affiliation with the Company’s filing of its audited anniversary banking statements (the “Audited Banking Statements”) and MD&A for the banking year concluded December 31, 2019.
On March 23, 2020, the Canadian Balance Administrators accepted absolute abatement (the “Blanket Relief”) for all advertisement issuers, accouterment up to a 45-day addendum for alternate filings commonly appropriate to be fabricated on or afore June 1, 2020. Due to the diplomacy created by the COVID-19 pandemic, the Aggregation issued a account absolution on April 27, 2020, relying on the addendum provided for beneath the Absolute Relief, announcement the adjournment of filing of its Audited Banking Statements, the anniversary MD&A and the applicative CEO and CFO certifications (the “Annual Filings”), as the Aggregation did not accept that it would be able to book the Anniversary Filings by its accepted 120-day borderline of April 29, 2020 as appropriate pursuant to Civic Instrument 51-102 Continuous Acknowledgment Obligations (“NI 51-102”). At that time, the Aggregation accepted to complete the Filings to be completed on or afore June 16, 2020.
The Aggregation is requesting the MCTO in adjustment to defended added time to agree the Anniversary Banking Statements. As a aftereffect of the contempo COVID-19 communicable and the abrupt delays affiliated therewith, the Aggregation anticipates a best than advancing timeframe for the assay of the Anniversary Banking Statements. However, it is the Company’s reasonable apprehension that the Anniversary Filings will be accomplished by July 15, 2020.
By way of accomplishments and as appropriate by the BCSC, the Aggregation addendum the following:
1. The Aggregation is appropriate to book its Anniversary Filings all in accordance with IFRS, by June 16, 2020 (the “Annual Filing Deadline”), actuality the continued filing borderline in accordance with the Absolute Relief. The Aggregation does not ahead that it will be able to complete the Anniversary Filings on or afore the Filing Deadline.
2. The Aggregation and its auditors are alive agilely to adapt and book the Anniversary Filings, on or afore July 15, 2020.
3. The Aggregation confirms that it intends to affair a cachet address on a bi-weekly basis, for as continued as it charcoal in absence of the Anniversary Filing Borderline in account of the Anniversary Filings.
4. There is no added absolute advice apropos the diplomacy of the Aggregation that has not been about disclosed.
The Aggregation has imposed an cabal trading blackout awaiting the filing of the Anniversary Filings and will accede with the another advice guidelines declared in Civic Policy 12-203 Management Cease Trade Orders during such period.
About Telson Mining Corporation
Telson Mining Corporation is a Canadian based mining aggregation with two 100% endemic Mexican gold, argent and abject metal mining projects.
Telson’s Tahuehueto mining project, amid in north-western Durango State, Mexico area architecture has been avant-garde to about 70% achievement and cat-and-mouse for final allotment to accomplishment architecture of the processing bulb and accompanying assets to aftermath gold, silver, advance and zinc in concentrates aural its own on-site mineral processing facility, with a advised accommodation of at atomic 1,000 tonnes per day. The Aggregation is targeting achievement of architecture six to eight months afterwards accepting final funding.
Campo Morado is a polymetallic abject metal abundance that produces zinc, lead, copper, argent and gold. Four months afterwards purchasing Campo Morado, Telson brought the abundance aback into operation initiating preproduction in October 2017 and declared bartering assembly in May 2018, operating the abundance continuously for 22 months until August 2019 back the activity was put on affliction and maintenance. Telson brought the abundance out of affliction and maintenance, reinitiating mining and milling operations backward January 2020, operating through February and March however, briefly abeyant operations at the alpha of April as allowable by the Mexican Government Ministry of Bloom which proclaimed a civic bloom emergency suspending all “non-essential” accessible and clandestine area business, including mining as a aftereffect of the COVID-19 pandemic. The Aggregation re-started operations on June 3, 2020 afterwards the Mexican government accustomed mining as capital to the abridgement and are acceptance companies to admit mining activities.
On Behalf of the Board of Directors
(signed) “Ralph Shearing”
Ralph Shearing, President, CEO and Director
Cautionary Note Apropos Assembly Decisions and Forward-Looking Statements
It should be acclaimed that Telson declared bartering assembly at Campo Morado above-mentioned to commutual a achievability abstraction of mineral affluence demonstrating bread-and-butter and abstruse viability. Accordingly, readers should be cautioned that Telson’s assembly accommodation has been fabricated afterwards a absolute achievability abstraction of accustomed affluence such that there is greater accident and ambiguity as to approaching bread-and-butter after-effects from the Campo Morado abundance and a college abstruse accident of abortion than would be the case if a achievability abstraction was completed and relied aloft to accomplish a assembly decision. Telson has completed a basic bread-and-butter appraisal (“PEA”) mining abstraction on the Campo Morado abundance that provides a conceptual activity of abundance plan and a basic bread-and-butter assay based on the ahead articular mineral assets (see Account Absolution anachronous November 8, 2017 and April 4,2018).
Statements independent in this account absolution that are not absolute facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) aural the acceptation of applicative Canadian balance laws. Forward Looking Advice includes, but is not bound to, acknowledgment apropos the planned recommencement of mining operations at Campo Morado; and added accessible events, altitude or banking achievement that are based on assumptions about approaching bread-and-butter altitude and courses of action; the timing and costs of approaching activities on the Company’s properties, such as assembly ante and increases; success of exploration, development and aggregate sample processing activities, and timing for processing at its own mineral processing ability on the Tahuehueto activity site. In assertive cases, Forward-Looking Advice can be articular by the use of words and phrases such as “plans”, “expects”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or variations of such words and phrases. In advancing the Forward-Looking Advice in this account release, the Aggregation has activated several absolute assumptions, including, but not bound to, that the accepted exploration, development, ecology and added objectives apropos the Campo Morado Abundance and the Tahuehueto Activity can be achieved; that recommencement of operations at Campo Morado will advance as planned; the chain of the amount of gold and added metals, bread-and-butter and political altitude and operations and that the Filings will be completed in the time aeon anticipated. Forward-Looking Advice involves accepted and alien risks, uncertainties and added factors which may account the absolute results, achievement or achievements of the Aggregation to be materially altered from any approaching results, achievement or achievements bidding or adumbrated by the Forward-Looking Information. There can be no affirmation that Forward-Looking Advice will prove to be accurate, as absolute after-effects and approaching contest could alter materially from those advancing in such statements. Accordingly, readers should not abode disproportionate assurance on Forward-Looking Information. Except as appropriate by law, the Aggregation does not accept any obligation to absolution about any revisions to Forward-Looking Advice independent in this account absolution to reflect contest or diplomacy afterwards the date hereof or to reflect the accident of hasty events.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that appellation is authentic in the behavior of the TSX Venture Exchange) accepts albatross for the capability or accurateness of this release.
For added advice about Telson Mining Corporation, amuse contact:
Glen Sandwell Corporate Communications Manager [email protected] Tel: 1 (604) 684-8071
Copyright (c) 2020 TheNewswire – All rights reserved.
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