Sherwood Park, Alberta, April 24, 2020 (TSXV:VTX) – Vertex Resource Group Ltd. (“Vertex” or the “Company”) announces that the Company’s Annual Financial Statements, Annual Management’s Discussion and Analysis, and Annual Information Form for the year ended December 31, 2019 (collectively, the “2019 Results”) are estimated to be filed May 19, 2020.
The 2019 Results would ordinarily have been filed on or before April 29, 2020 as required under the Canadian Securities Administrators National Instrument 51-102 Continuous Disclosure Obligations. In order to properly assess the impact of the COVID-19 pandemic on the disclosures contained within the 2019 results, Vertex has chosen to file in accordance with revised deadlines as permitted by Alberta Securities Commission Blanket Order 51-517 Temporary Exemption from Certain Corporate Finance Requirements, 2020 ABASC 33.
There have been no material business developments specific to the Company since November 12, 2019, the date of the 2019 third quarter interim filings. However, the COVID-19 pandemic has impacted economic conditions. The effect on Vertex’s future results is not quantifiable at this time.
During the extension period, management, directors and other insiders of the Company will continue to be subject to an insider trading black-out policy in accordance with the principles of section 9 of National Policy 11-207.
Since 1962, Vertex has been a leading North American provider of environmental services. Headquartered in Sherwood Park, Alberta, Vertex employs a staff of approximately 525 employees and lease operators that provide services to help clients achieve their developmental and operational goals. From initial site selection, consultation and regulatory approval, through construction, operation and maintenance, to conclusion and environmental cleanup, Vertex provides a wide array of services to customers operating in industries such as energy, mining, utilities, private development, public infrastructure, construction, telecommunications, forestry, agriculture and government.
Vertex principally operates in western Canada and in select locations in Ontario and the United States.
For further information please contact:
Terry Stephenson, CEO, or Imran Ally, CFO at 780-464-3295
Certain statements contained in this news release may constitute “forward-looking information”. When used in this document or by any of the Company’s management, the words “may”, “would”, “will”, “intend”, “plan”, “propose”, “anticipate” and “believe” are intended to identify forward-looking information. In particular, but without limiting the foregoing, this document contains forward-looking information and statements pertaining to the release date of the 2019 Results, including the timing thereof. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks, including those related to the COVID-19 pandemic, and the potentially negative effects thereof on the Company’s workforce, its supply chain or demand for its services. Additional risk factors facing the Company are described in its most recent interim filings for the three and nine month periods ended September 30, 2019, which have been electronically filed under the Company’s SEDAR profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.