Vancouver, British Columbia--(Newsfile Corp. - August 27, 2020) - American Biofuels Inc. (TSXV: ABS.H) (the "Company") announces that it will be relying on the coordinated relief provided by the securities regulators which consists of a 45-day extension for certain periodic filings, as announced by the Canadian Securities Administrators ("CSA") on March 18, 2020, with respect to the filing of its annual financial statements, management's discussion and analysis, and related officer certificates for its financial year ended April 30, 2020.
The notice released by the CSA stated that securities regulators will be providing coordinated relief consisting of a 45-day extension for certain periodic filings required to be made on or prior to August 31, 2020 as a result of the COVID-19 pandemic. As such, the British Columbia Securities Commission ("BCSC") has enacted BC Instrument 51-517, Temporary Exemption from Certain Corporate Finance Requirements ("BCI 51-517").
The Company will be relying on the temporary exemption pursuant to BCI 51-517 in respect to the following provisions:
The Company is continuing to work diligently on its Reserves Data and with its auditors on its Annual Filings to file on or before October 12, 2020.
The Company confirms that there have been no material developments, other than those disclosed through news releases, since the filing of its condensed interim financial statements for the period ended January 31, 2020.
Additionally, the Company advises that management and other insiders of the Company are subject to a trading black-out policy as described, in principle, in section 9 of National Policy 11-207 Failure to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.
ON BEHALF OF THE BOARD
Teresa Cherry, CFO
Contact for further information: (604) 336-8617
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has not reviewed the content of this news release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/62678