Ring of Fire Updates Weekly News Roundup

April 28 – May 4, 2020 : Weekly News Roundup

April 28, 2020 (Junior Mining Network):

KWG announces delay in filing under COVID-19 duress; seeks approval for issue of $3 million of convertible debentures

KWG Resources Inc. (CSE: KWG) (CSE: KWG.A) (FSE: KW6)(“KWG” or the “Company”) announces that due to circumstances created by the COVID-19 pandemic, the Ontario Securities Commission and other members of the Canadian Securities Administrators granted “Issuers” in the Canadian securities industry up to an additional 45 days, to complete year-end statutory filings (the “Extension”). The Company does not believe that it will be able to file its December 31, 2019 audited annual financial statements by its usual 120-day deadline of April 29, 2020, and will be relying on the Extension. Accordingly, as required by the conditions of the Extension, the Company’s management and other insiders will be subject to a trading black-out that reflects the principles in Section 9 of National Policy 11-207 until its financial statements are filed, which will be by June 13, 2020. Other than as previously disclosed by the Company in news releases, including the information herein, there are no other material business developments since the date of the Company’s most recent filing of its interim financial statements and management discussion and analysis for its Q3 ended September 30, 2019. The Company will be providing an update news release on the status of filing its December 31, 2019 audited financial statements by May 29, 2020. Read more here…

May 30, 2020 (CBC):

Northern Ontario First Nations want pause to mining permits until COVID-19 subsides

Neskantaga chief Chris Moonias says his First Nation is overstretched dealing with pandemic

Northern Ontario First Nations want the province to put a hold on mining exploration permits and pause the operation of a system that allows for the remote staking of mining claims while they deal with the coronavirus pandemic. Read more here…

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