SXOOF - St-Georges Announces Delay in Filing Annual Financial Statements
(TheNewswire)
Montréal – TheNewswie - May 3, 2021 – St-Georges Eco-Mining Corp. (CSE:SX) (CNSX:SX.CN) (OTC:SXOOF) (FSE:85G1) announces that its consolidated audited annualfinancial statements for the year ended December31, 2020, including the related management’s discussion andanalysis and the related CEO and CFOcertifications (collectively, the “ Annual Financial Filings ”) were not filed by the required filing deadline of April 30, 2021 (the “ Filing Deadline ”).
The Annual Financial Filings were not filed on orbefore the Filing Deadline due to the delay in the completionof the year-end audit of ZeU Technologies, Inc. (“ ZeU ”), a corporation in which theCompany has a substantial interest. The Company owns approximately29.59% of the issued and outstanding common shares of ZeU. As a result, the Company will need more time to completeits consolidated financial statements.
The Company is working on the steps required tocomplete the Annual Financial Filings and expects to be able to filethe Annual Financial Filings by May 21, 2021. The Company will provideupdates as further information relating to the Annual FinancialFilings becomes available.
The Company has applied to the applicable securitiesregulatory authorities and received a management cease trade order (“MCTO”) imposed againstthe Chief Executive Officer, Mr. Herb Duerr and Chief FinancialOfficer, Mr. Richard Barnett, of the Company precluding them fromtrading securities of the Company . The MCTO willbe in effect until the Annual Financial Filings are filed and requiresthat the Annual Financial Filings be filed on or before May 21,2021.
No other shareholders other than thetwo officers mentioned will be affected by the MCTO order.
Until the Annual Financial Filings are filed, theCompany intends to issue bi-weekly default status reports inaccordance with National Policy 12-203 - Management Cease Trade Orders . The Company intends to satisfy the provisions of theAlternative Information Guidelines during the period it remains indefault of the filing requirements. The Company confirms that there isno other material information relating to its affairs that has notbeen generally disclosed.
ON BEHALF OF THE BOARD OF DIRECTORS
“ Frank Dumas”
FRANCOIS (FRANK) DUMAS
COO & Director
A bout St-Georges
St-Georges is developing new technologies to solve some of the most common environmental problems in the miningindustry. The Company controls all the active mineral tenures inIceland. It also explores for nickel & PGEs on the Julie Nickel Project and the Manicougan Palladium Project on the Québec’s North Shore. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under thesymbol SX, on the US OTC under the Symbol SXOOF and on the FrankfurtStock Exchange under the symbol 85G1.
The Canadian Securities Exchange(CSE) has not reviewed and does not accept responsibility for theadequacy or the accuracy of the contents of this release.
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