Synstream Energy Corp. Announces Temporary Extension for filing of 2019 Year-end Financial Information

CALGARY, AB / ACCESSWIRE / May 3, 2020 / Synstream Energy Corp. (TSX.V:SHM) ("Synstream" or the "Company") reports the following regarding the timing for the filing of the 2019 Annual Financial Statements Annual Management Discussion & Analysis and its Statement of Reserves Data and Other Oil and Gas Information, Report on Reserves ‎Data by Independent Qualified Reserves Evaluator, and Report of Management and ‎Directors on Oil and Gas Disclosure for the year ended December 31, 2019 (collectively the "Documents"). Under the continuous disclosure rules of the Alberta Securities Act, the Company is required to file its Documents within 120 days of the December 31, 2019 year-end. As a result of the Covid-19 pandemic, pursuant to Blanket Order 51-517, the Alberta Securities Commission will allow a temporary 45-day filing extension to June 15, 2020.

In order to comply with the temporary filing extension, the Corporation confirms the following:

1. it will postpone the filing of its Annual Audited Financial Statements for the year ended December 31, 2019 (section 4.2 of National Instrument 51-102), its Annual MD&A (section 5.1(2) of National Instrument 51-102); and its Statement of Reserves Data and Other Oil and Gas Information, Report on Reserves ‎Data by Independent Qualified Reserves Evaluator, and Report of Management and ‎Directors on Oil and Gas Disclosure for the year ended December 31, 2019 (section 2.1 of National Instrument 51-101)‎;
2. that its 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;
3. the required filing of the Documents is expected to be completed no later than June 15, 2020;
4. Management reports that no material business developments have occurred since the filing of the Q3 2019 Financial Statements and Management Discussion & Analysis on November 29, 2019. However, management also warns that, as a result of the onset of the Covid-19 pandemic, the operations of the Corporation may be negatively impacted and there may be a reduction in sales volumes and revenues.

For further information, contact:

Johannes Kingma
Chief Executive Officer
(403) 612-5655

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Synstream Energy Corp.

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