Correct Success: Canadian Overseas Petroleum Limited Announces Approval of Application of Management Cease Trade Order and Provides Bi-Weekly Status Report

Canadian Overseas Petroleum Limited Announces Approval of Application of Management Cease Trade Order and Provides Bi-Weekly Status Report

CALGARY, AB / ACCESSWIRE / April 1, 2021 / Canadian Abroad Petroleum Restricted (the “Firm“) (CSE:XOP)(LSE:COPL), is happy to introduced that additional to its press launch dated March 17, 2021, its software to its principal regulator, the Alberta Securities Fee (the “ASC“), for a administration stop commerce order (the “MCTO“) beneath Nationwide Coverage 12-203 – Administration Stop Commerce Orders (“NP 12-203“) has been granted. As beforehand introduced, the applying for the MCTO was made by the Firm in an effort to safe extra time for the Firm to file its audited annual monetary statements and the relevant CEO and CFO certifications in respect of such filings for the monetary 12 months ended December 31, 2020 (collectively the “Annual Filings“). Below the phrases of the MCTO, the Firm’s Annual Filings and some other periodic disclosure required to be filed pursuant to part 146 of the Securities Act (Alberta) whereas the MCTO is in impact (the “Different Disclosure“) have to be filed on or earlier than April 30, 2021.

The MCTO restricts all buying and selling in securities of the Firm by the Chief Govt Officer and the Chief Monetary Officer of the Firm till two full enterprise days following the date the Firm recordsdata the Annual Filings and Different Disclosure. The MCTO doesn’t have an effect on the flexibility of shareholders to commerce their securities. Nevertheless, the relevant Canadian securities regulatory authorities might decide, of their discretion, that it could be acceptable to problem a normal stop commerce order in opposition to the Firm affecting all the securities of the Firm. As beforehand introduced, till submitting of the Annual Filings and Different Disclosure, the Firm confirms that it’ll fulfill the provisions of the choice info tips beneath NP 12-203 and can file on SEDAR each two weeks a default standing report containing the knowledge described in part 10 of NP 12-203.

Bi-weekly Standing Report

The Firm confirms that because the date of its submission for the MCTO on March 17, 2021 (the “MCTO Discover“): (i) there was no materials change to the knowledge set out within the MCTO Discover that has not been typically disclosed; (ii) there was no failure by the Firm in fulfilling its said intentions with respect to satisfying the provisions of the choice info tips set out in NP 12-203; (iii) there has not been some other specified default by the Firm beneath NP 12-203; and (iv) there isn’t any different materials info regarding the affairs of the Firm that has not been typically disclosed.

The Firm confirms that its administrators, officers and insiders can not commerce the Firm’s securities till the Annual Filings have been made. The Firm is working diligently to finish the audit of the monetary statements for the 12 months ended December 31, 2020. The MCTO stipulated that the Annual Filings had been to be filed by no later than April 30, 2021 and the Firm will likely be ready to file the Annual Filings on or earlier than that date. Till submitting of the Annual Filings, the Firm intends to fulfill the provisions of the choice info tips as required by NP 12-203.

Concerning the Firm

COPL is a global oil and gasoline exploration, improvement and manufacturing firm actively pursuing alternatives in america by the acquisition of Atomic Oil and Fuel LLC with operations in Converse County Wyoming, and in sub-Saharan Africa by its ShoreCan three way partnership firm in Nigeria, and independently in different international locations.

For additional info, please contact:

Mr. Arthur Millholland, President & CEO
Canadian Abroad Petroleum Restricted
Tel: + 1 (403) 262 5441

Cathy Hume
CHF Investor Relations
Tel: +1 (416) 868 1079 ext. 251
Electronic mail: cathy@chfir.com

Charles Goodwin
Yellow Jersey PR Restricted
Tel: +44 (0) 77 4778 8221
Electronic mail: copl@yellowjerseypr.com

Ahead-looking statements

This press launch accommodates statements that represent “forward-looking info” (collectively, “forward-looking statements“) inside the which means of the relevant Canadian securities laws. All statements, aside from statements of historic truth, are forward-looking statements and are primarily based on expectations, estimates and projections as on the date of this information launch. Any assertion that discusses predictions, expectations, beliefs, plans, projections, targets, assumptions, future occasions or efficiency (usually however not at all times utilizing phrases corresponding to “expects”, or “doesn’t count on”, “is predicted”, “anticipates” or “doesn’t anticipate”, “plans”, “price range”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such phrases and phrases or stating that sure actions, occasions or outcomes “could” or “might”, “would”, “may” or “will” be taken to happen or be achieved) are usually not statements of historic truth and could also be forward-looking statements. Ahead-looking statements contained on this press launch embody, with out limitation, statements regarding the timing for completion of the Annual Filings and different statements that aren’t historic info. In making the forward-looking statements contained on this press launch, the Firm has made sure assumptions. Though the Firm believes that the expectations mirrored in forward-looking statements are affordable, it may give no assurance that the expectations of any forward-looking statements will show to be appropriate. Identified and unknown dangers, uncertainties, and different elements could trigger the precise outcomes and future occasions to vary materially from these expressed or implied by such forward-looking statements. Accordingly, readers mustn’t place undue reliance on the forward-looking statements and knowledge contained on this press launch. Besides as required by regulation, the Firm disclaims any intention and assumes no obligation to replace or revise any forward-looking statements to replicate precise outcomes, whether or not on account of new info, future occasions, adjustments in assumptions, adjustments in elements affecting such forward-looking statements or in any other case. The securities of the corporate haven’t been registered beneath america Securities Act of 1933, as amended, and might not be provided or offered in america absent registration or an relevant exemption from the registration necessities. This launch is issued for informational functions solely and doesn’t represent a suggestion to promote or the solicitation of a suggestion to purchase any securities, nor shall there be any sale of any securities in any jurisdiction wherein such provide, solicitation or sale could be illegal.

The Canadian Securities Trade (operated by CNSX Markets Inc.) has neither accredited nor disapproved of the contents of this press launch.

SOURCE: Canadian Abroad Petroleum Restricted

View supply model on accesswire.com:
https://www.accesswire.com/638704/Canadian-Overseas-Petroleum-Limited-Announces-Approval-of-Application-of-Management-Cease-Trade-Order-and-Provides-Bi-Weekly-Status-Report