Kairos Metals Corp. Provides Update on Delay in Filing Annual Financial Statements Due to COVID-19 Related Delays

CALGARY, AB / ACCESSWIRE / May 29, 2020 / Kairos Metals Corp. ("Kairos" or the "Company") provides an update with respect to the postponed filing of the following continuous disclosure documents (collectively the "Documents"):

the Company's Annual Audited Financial Statements for the twelve-month period ended December 31, 2019 as required by section 4.2 of National Instrument 51-102 – Continuous Disclosure Obligations ("NI 51-102");

the Company's Management Discussion & Analysis for the twelve-month period ended December 31, 2019 as required by section 5.1(2) of NI 51-102;

The Company previously announced that the Company expected the Documents to be filed on or prior to June 15, 2020. The Company expects to meet that deadline.

The Company further announces that filing of its unaudited interim quarterly financial statements and accompanying management's discussion and analysis for the quarter ended March 31, 2020 (collectively the "Interim Documents") will be postponed due to delays caused by the COVID-19 pandemic. The Interim Documents would ordinarily have been filed on or before June 1, 2020, the required deadline set by NI 51-102. The Company is relying on the exemption provided in Alberta Instrument 51-517 – Temporary Exemption from Certain Corporate Finance Requirements (the "Alberta Instrument") of the Alberta Securities Commission (and similar exemptions provided by the securities commission in British Columbia), which provides the Company with an additional 45 days to complete its Interim Documents, which includes the following continuous disclosure documents:

the Company's unaudited financial statements for the quarter ended March 31, 2020 as required by section 4.4 of NI 51-102; and

the Company's Management's discussion and analysis for the quarter ended March 31, 2020 as required by section 5.1(2) of NI 51-102.

The Company expects to file the Interim Documents no later than July 15, 2020.

Until the Company has filed the required Documents, members of the Company's management and other insiders are subject to a trading blackout reflecting the principles contained in section 9 of National Policy 11-207 – Failure to File Cease Trade Orders and Revocations in Multiple Jurisdictions.

Since April 30, 2020, when the Company announced that it would rely on the Alberta Instrument, there have been no material business developments except in relation to the closing of the Property Retransfer that was announced by the Company's press release dated May 6, 2020 (further particulars may be viewed under the Company's profile at SEDAR.com).

For additional information regarding this news release please contact Al Kroontje, Director, at (403) 607 4009 or e-mail al@kasten.ca.

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 news release.

This news release may contain certain forward-looking information and statements. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Kairos's disclosure documents on the SEDAR website at www.sedar.com. Kairos does not undertake to update any forward-looking information except in accordance with applicable securities laws.

SOURCE: Kairos Metals Corp.

ReleaseID: 591999