Intercontinental Gold announces that, further to its press release of April 29, 2020, the Company wishes to provide an update with respect to: (i) the filing its audited annual financial statements for the year end December 31, 2019 and the related management discussion and analysis (“MD&A”); and (ii) the filing of the interim financial statements and related MD&A with respect to the interim period ended March 31, 2020. The Company will invoke the British Columbia Securities Commission BC Instrument 51-515 (“BCI 51-515”) extending deadlines to file financial statements and MD&A’s. Pursuant to BCI 51-515, the Company is relying on the relief therein for its audited financial statements, for the year end December 19, 2020, as required by Section 4.2 of National Instrument 51-102, the interim financial period ended March 31, 2020, as required by Section 4.3 of National Instrument 51-102 and the related MD&A as required by section 5.1(2) of National Instrument 51-102.
The Company estimates that the audited financial statements and the MD&A will be filed no later than June 12, 2020 and the interim financial statements and the related MD&A will be filed no later than June 19, 2020.
Until the Company has filed and announced the required financial statements and related MD&A’s, all management and other insiders are subject to the Company’s share trading and black-out policy that reflects the principals in section 9 of National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.
There have been no material business developments since the date of the interim financial statements for the nine-month period ended September 30, 2019 that were filed on November 7, 2019.
About Intercontinental Gold and Metals Ltd.
Intercontinental Gold and Metals Ltd. is a Next Generation Metals and Mining Company. We believe our gold refining, physical commodities marketing and trading operations can provide insights in global primary supply and demand trends that create a strategic and competitive advantage for further investment and expansion opportunities on a global basis. The Company generates revenues from the purchases and sales of gold (accounted for as revenue). Cost of sales is measured at the fair value of the precious metals purchased and inventory sold, which is purchased at a competitive discount from licensed artisanal and small gold miners (ASGM) in Latin America (LATAM). Global ASGM supply is significant and supports a sustainable revenue generation model. We are unique being the only publicly listed gold refining company servicing the LATAM ASGM market.