Forsys Metals Corp. (TSX: FSY) (FSE: F2T) (NSX: FSY) (“Forsys” or the “Company”), in accordance with the blanket relief of a 45-day extension, provided by Canadian Securities Administrators and Ontario Instrument 51-502: Temporary Exemption from Certain Corporate Finance Requirements, for periodic filings normally required to be made by issuers during the period from March 23, 2020 to June 1, 2020, announces that it was unable to file its audited annual financial statements for the year ended December 31, 2019 and the related management’s discussion and analysis and Annual Information Form, as required by Part 4 and Part 5 of National Instrument 51-102: Continuous Disclosure Obligations (collectively, the “Annual Filings”) by the filing deadline of March 30, 2020. The Company expects the Annual Filings will now be filed by April 15, 2020.
The Company’s management and other insiders are subject to an insider trading black-out policy that reflects the principles in section 9 of National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions. Directors and officers are subject to a black-out period until 24 hours after the Annual Filings have been filed.
Since the filing of the interim financial reports on November 14, 2019, the Company announced the completion of a private placement of 10,000,000 Class A Common Shares at a price of $0.10 per share for gross proceeds of $1,000,000.
About Forsys Metals Corp.
Forsys Metals Corp. is an emerging uranium developer with 100% ownership of the Norasa project that comprises the fully permitted Valencia uranium project and the Namibplaas uranium project in Namibia, Africa a politically stable and mining friendly jurisdiction. Information regarding current National Instrument 43-101 compliant Resource and Reserves at Valencia and Namibplaas are available on the Company’s website and under the Company’s filings on SEDAR.
On behalf of the Board of Directors of Forsys Metals Corp. Mark Frewin, Interim Chief Executive Officer.
For additional information please contact:
Jorge Estepa, Corporate Secretary
Telephone: (416) 818-4035 or Email: je@forsysmetals.com