No Fault Delay in Filing Annual Financial Statements

April 26, 2019 – Vancouver, Canada – Canamex Gold Corp. (the “Company” or “Canamex”) (CSE: CSQ) announces that the filing of its annual financial statements for the year ended December 31, 2018, including the related management discussion and analysis, and CEO and CFO certifications (collectively, the “Annual Financial Filings”) will not be filed by the required filing deadline of April 30, 2019 (the “Filing Deadline”).

As advised by the Company news release on April 25th, 2019, at the request of the Company, Manning Elliott LLP, Chartered Professional Accountants, (the “Former Auditor”) resigned as auditors of the Company. The Company appointed Smythe LLP, Chartered Professional Accountants (the “Successor Auditor”) of Vancouver, British Columbia, as auditors for the Company.

Earlier, in 2018, the Company had requested the resignation of the Former Auditor, and the change had been approved by the Company’s audit committee and the Board of Directors. However, the letter and package from the Former Auditor was not provided for review by the Company’s audit committee and its Board of Directors. Despite repeated requests, the Former Auditor failed to provide the letter and package, under securities law obligations, as required by National Instrument 51-102 s 4.11 (5).

Last week, the Company made a final demand, that the Former Auditor provide the letter and package, on the basis that it would leave the Company with no other option than to default on its legal obligations as a reporting issuer.  As a result of this final demand, the Former Auditor provided the letter to the Company. However, this left insufficient time for the Successor Auditor to complete the audit for the Annual Financial Statements before the filing due date.

With the appointment of the Successor Auditor, the Company expects to be in a position to complete the Annual Financial Statements and file before the end of May, 2019. The Company intends to satisfy any provisions relating to alternative information guidelines, prior to filing its Annual Financial Statements.

The Former Auditor is a registered firm with the Canadian Public Accountability Board (CPAB) and Chartered Professional Accountants British Columbia (CPABC). The Company will be lodging a formal complaint, with both the CPAB and CPABC regarding the Former Auditor’s non-compliance with its securities laws obligations to reporting issuers, as detailed above.

 

ON BEHALF OF THE BOARD

David Vincent
CEO and Director
david.vincent@canamexgold.com
604.833.4278

The Canadian Securities Exchange accepts no responsibility for the adequacy or accuracy of this release.