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Postponement of Filing of Q1 2020 Financials and MD&A Due to COVID-19 Related Delays

May 29, 2020 | About:

CALGARY, AB / ACCESSWIRE / May 29, 2020 / Prospera Energy Inc. ("Prospera" or the "Company") (TSXV:PEI)(FRA:OF6A) announces that as a result of related delays caused by COVID-19, the Corporation requires additional time to complete its filing of its unaudited interim financial statements ("Financial Statements") and accompanying management's discussion and analysis ("MD&A") (collectively the :" Interim Documents")for the quarter ended March 31, 2020, in reliance on the exemption provided in ASC Blanket Order 51-517 Temporary Exemption from Certain Corporate Finance Requirements ("the "Alberta Instruments") of the Alberta Securities Commission (and similar exemptions provided by the securities commission in British Columbia) which provides the Corporation with an additional 45 days to complete the Interim Documents which includes the Financial Statements and MD&A. The Corporation will file the Interim Documents no later than June 30, 2020.

Until the Company has filed the Financial Statements and MD&A, members of 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.

There have been no material business developments since the filing of the Company's annual audited financial statements and accompanying management's discussion and analysis for the year ended December 31, 2019 on May 21, 2020

ABOUT PROSPERA ENERGY INC.

Prospera Energy Inc is a Canadian natural resource Corporation engaged in the acquisition, exploration, development and production of oil and gas properties with operations in Alberta and western Saskatchewan.

Sarshar Ahmad
President and Interim CEO

Prospera Energy Inc.
700, 1300 - 8th St SW, Calgary, AB T2R 1B2

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 release.

Cautionary and Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. Forward-looking statements and information are often, but not always, identified by the use of words such as "appear", "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions. The forward-looking statements and information are based on certain key expectations and assumptions made by Jaguar, including the application or non-application of the policies and rules of the NEX and TSX Venture Exchange. Although Jaguar believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable in the circumstances, undue reliance should not be placed on the forward looking statements and information because Jaguar can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. Jaguar undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law, the TSX Venture Exchange or the NEX.

SOURCE: Prospera Energy Inc.



View source version on accesswire.com:
https://www.accesswire.com/592035/Postponement-of-Filing-of-Q1-2020-Financials-and-MDA-Due-to-COVID-19-Related-Delays

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