VANCOUVER, BC – April 22, 2020 – Kenadyr Mining (Holdings) Corp. (TSX-V: KEN; OTC-MKTS: KNDYF; FRA: KM0) (the “Company” or “Kenadyr”) provides the public and its shareholders with a corporate update.
A Message from Tim McCutcheon, Kenadyr’s CEO:
“Our team in Canada and Kyrgyzstan is working remotely, completing what tasks it can in this difficult situation. In the capital markets, we are now in a phase where the rising asset values of gold and gold mining equities do not necessarily translate into a similar move for smaller companies like Kenadyr. While the value of gold is high and continuing to appreciate, investor liquidity is low. However, the team at Kenadyr has much experience in these situations and is working hard to set the Company up for its next phase of development. I note that our Borubai asset is attractive due to its geological prospects and benefits from its proximity to the large, operational, Taldy Bulak Levoberezhniy (“TBL”) gold mine operated by Zijin Mining.”
Kyrgyzstan is taking the COVID-19 situation very seriously. An enforced quarantine regime is in place, with the government scheduled to provide a status update by April 25. With the exception of some commercial activity, the borders of the country are temporarily closed. Kyrgyzstan has accepted aid from many countries, including Russia, China and USA. As of writing, there were 590 cases of people diagnosed with COVID-19 and 7 deaths attributed to the virus.
Annual Filing Extension
The Company announces that it is relying upon the exemption announced by the British Columbia Securities Commission on March 23, 2020 to the requirement to file audited annual financial statements and MD&A on or before the 120th day after the end of its most recently completed financial year. The Company anticipates it will file on or before May 31, 2020.
The Company confirms that management and other insiders are subject to a trading black-out that reflects the principles in section 9 of National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions. The Company further confirms there have been no undisclosed material business developments since November 29, 2019, the date of filing the Company’s third quarter interim financial statements.
Kenadyr is currently listed on the TSXV Exchange and its primary business is mineral exploration in the Kyrgyz Republic, specifically gold exploration in Borubai. Kenadyr holds all issued and outstanding securities in PIC Ala-Too, a Kyrgyz Republic company registered in Bishkek, which is the 100% legal and beneficial holder of an exploration license related to Kenadyr’s Borubai Project.
ON BEHALF OF KENADYR MINING (HOLDINGS) CORP.
Chief Executive Officer
For more information, visit www.kenadyr.com or contact Tim McCutcheon, CEO at firstname.lastname@example.org or +1 (604) 396-1336.
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