Point Loma Resources Announces Update to Temporary Relief from Regulatory Filings

CALGARY, AB / ACCESSWIRE / May 6, 2020 / Point Loma Resources Ltd. (TSXV:PLX) ("Point Loma" or the "Corporation") provides the following update on the Temporary Relief from Regulatory Filings.

In a press release dated April 20, 2020, the Corporation announced that the Alberta Securities Commission ("ASC"), along with the other jurisdictions of the Canadian Securities Administrators, had published temporary blanket relief for market participants from certain regulatory filings as a result of COVID-19 on March 23, 2020.

The blanket relief provides a 45-day extension for periodic filings normally required to be made by the Corporation. Accordingly, the deadline for filing its Financial Statements, Management Discussion and Analysis ("MD&A") and Annual Information Form for the year ended December 31, 2019 will be June 15, 2020 and the deadline for filing its Quarterly Financial Statements and MD&A for the three months ended March 31, 2020 will be July 14, 2020.

Further to the April 20, 2020 release, pursuant to NP11-207, the Corporation advises that management and other insiders are currently subject to an insider trading black-out policy and other than has been publicly disclosed by the Corporation, there has not been any material business developments since the Corporation's financial statements for the interim period ended September 30, 2019.

About Point Loma

Point Loma is a public oil and gas exploration and development company focused on conventional and unconventional oil and gas reservoirs in west central Alberta. The Corporation controls over 161,000 net acres (250 net sections) and has a deep inventory of oil opportunities. Point Loma's business plan is to utilize its experience to identify, acquire and develop accretive assets with potential to employ horizontal multi-stage frac technology and to exploit opportunities for secondary recovery. For more information, please visit Point Loma's website at www.pointloma.ca or Point Loma's profile on the System for Electronic Document Analysis and Retrieval website at www.sedar.com.

For further information, please contact: Terry Meek President and CEO Telephone: (403) 705-5051 ext. 444 [email protected] Thomas Love VP Finance and CFO Telephone: (403) 705-5051 ext. 443 [email protected]

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: Point Loma Resources Ltd