On January 14, 2021, the Green River Gold Corp. (the “Company”) disseminated a news release (the “MCTO Notice”) disclosing that it had voluntarily applied to the Alberta Securities Commission (the “ASC”) for a management cease trade order (“MCTO”) as it was not able to complete and file its audited financial statements, CEO and CFO certifications, and management discussion & analysis (the “Annual Filings”) for the year ended September 30, 2020 by the filing deadline of January 29, 2021. On February 2, 2021, the Company announced that the ASC granted the MCTO.
In its application to the ASC for the MCTO and in subsequent bi-weekly default status reports, the Company stated that it anticipated and expected that it would be able to complete and file the Annual Filings on or before March 29, 2021 (the “Target Date”). Due to unavoidable circumstances the Company will not be able to file the Annual Filings by the Target Date. The Company’s financial statements have significantly increased in complexity over the last year due to the Company’s expansion into several new lines of business including retail sales, equipment sales, placer claim rentals, hard rock exploration and gold buying as well as the consolidation of Green River Gold Trading LP as announced on September 9, 2020. As a result, the auditors need to ensure that the policies, controls and disclosure being followed for all of these new business lines are appropriate.
The Company has been advised by its auditors that the financial statements need to go through another set of reviews. As such, at this time the Company expects that the Annual Filings along with any other required periodic disclosure, including the first quarter interim financial statements (“Other Periodic Disclosure”), will be filed on or before April 9, 2021 (the “Revised Filing Date”). The Company has informed the ASC of the Revised Filing Date.
The Company continues to work diligently with its auditors to file the Annual Filings and Other Periodic Disclosure as quickly as possible.
About Green River Gold Corp.
Green River Gold Corp. acquires and develops placer mining claims and mineral claims. The Company controls a 100% interest in the flagship Fontaine Gold Project. The 8,900-hectareFontaine Gold Project is situated 12 kilometers southwest of Barkerville. The property includes both placer and hard-rock tenures. The properties straddle an 18 km length of the Barkerville and Quesnel Terranes and are contiguous to Osisko Development Corp.’s proposed mine at its Cariboo Gold Project.
The Company also controls a 100% interest in placer mining projects on the Little Swift River, Sovereign Creek, Willow River, and Swift River. The Company rents placer claims to placer gold miners for cash rent, in lieu of a royalty. Green River Gold Corp. also distributes equipment and supplies for the placer mining industry and purchases raw placer gold from its facility in the heart of the Cariboo mining district in Quesnel, B.C.
Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedar.com
For more information contact:
Green River Gold Corp.
Mr. Perry Little
President and Chief Executive Officer
780-993-2193
This press release contains statements that constitute “forward-looking information” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements contained in this press release include, without limitation, statements relating to the timing for completion of the Annual Filings and other statements that are not historical facts. In making the forward- looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
The securities of the company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.