TORONTO, April 23, 2020 /CNW/ - CANADIAN OIL
RECOVERY AND REMEDIATION ENTERPRISES LTD. (TSX-V: CVR) ("CORRE" or
the "Company") announces that pursuant to the blanket relief
granted by the Canadian Securities Administrators it will not file
its annual financial statements for the year ended December 31, 2019, and the related management's
discussion and analysis, as required by Parts 4 and 5 of National
Instrument 51-102 – Continuous Disclosure Obligations
(collectively, the "Annual Filings") prior to the filing deadline
of April 29, 2020.
The Company expects to report its Annual Filings results on or
about June 12, 2020 and is afforded a
postponement of up to a maximum 45-day extension pursuant to
blanket relief for all market participants granted by the Canadian
Securities Administrators.
Other than as disclosed in the Company's press releases, there
have not been any material business developments since the date
that the last financial statements of the Company were filed.
The Company confirms 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
–Failure-to-File Cease Trade Orders and Revocations in Multiple
Jurisdictions, such that they are in a black-out period until
the commencement of the second trading day after the Annual Filings
have been disclosed by way of a news release.
About CORRE
CORRE is a Canadian-based oil services company which trades on
the TSX Venture Exchange under the symbol CVR. CORRE provides full
cycle oil waste management solutions to the petroleum industry.
CORRE's customers are primarily in the upstream petroleum sector
(oil production and drilling companies) and downstream petroleum
sector (oil refinery, transportation, and distribution companies).
CORRE's operating lines include remediating oil-contaminated soil;
treating sludge, oil-based muds and drilling waste, oil recovery;
automated oil storage tank cleaning, oil and gas engineering, and
project management. CORRE provides its advanced environmental
solutions through strategic operating partnerships with some of the
most distinguished companies throughout the world.
We seek Safe Harbor.
Forward Looking Statements
Except for statements of historical fact relating to the
Company, certain information contained herein constitutes
forward-looking statements. Although we believe that the
expectations reflected in the forward-looking information are
reasonable, there can be no assurance that such expectations will
prove to be correct. We cannot guarantee future results,
performance or achievements. Consequently, there is no
representation that the actual results achieved will be the same,
in whole or in part, as those set out in the forward-looking
information.
Forward-looking statements are based on the opinions and
estimates of management at the date the statements are made, and
are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ
materially from those projected in the forward-looking statements.
The forward-looking information contained in this news release is
expressly qualified by this cautionary statement. Except as
required by applicable securities laws, the Company undertakes no
obligation to update forward-looking statements if circumstances or
management's estimates or opinions should change. The reader is
cautioned not to place undue reliance on forward-looking
statements.
Neither 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 the release.
SOURCE Canadian Oil Recovery & Remediation Enterprises
Ltd.
