CALGARY, Alberta, May 09, 2018 (GLOBE NEWSWIRE) -- In a press release issued earlier today by Jaguar Resources Inc. (TSX-V:JRI), please note that information provided in the original announcement may have had incorrect or outdated information. The correct release follows:
CEASE TRADE ORDER AND RESTATEMENT OF OIL AND GAS RESERVES AT MURRAY LAKE
CALGARY, Alberta, May 09, 2018 -- Jaguar Resources Inc. ("Jaguar" or the "Company") (TSX-V:JRI), advises that on May 4, 2018, the Alberta Securities Commission (the "ASC") issued a general cease trade order against Jaguar as a result of the Corporation's delay in filing its audited financial statements for the financial year ended December 31, 2017, the related management's discussion and analysis, and related CEO and CFO certifications (collectively, the "Annual Filings").
The delay in filing the Annual Filings has resulted from a determination by the Company and its auditors that a restatement would be required for the 2015 and 2016 fiscal years because of changes required to be made to the Company's annual oil and gas reserves evaluation as it pertains to five (5) non-producing wells located at Murray Lake, Alberta.
The Company expects to file its Annual Filings, including its Form 51-101F1 – Statement of Reserves Data and Other Oil and Gas Information, on or before the end of May 2018.
For further information please contact:
Corbin Blume, CEO
Jaguar Resources Inc.
730, 1015 - 4th Street SW
Calgary, Alberta T2R 1J4
Main Phone (403) 975-4009
Fax (403) 264-5455
Email: ahblume@shaw.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 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. More particularly and without limitation, this news release contains forward-looking statements and information concerning the Company's expected timing for filing the Annual Filings. The forward-looking statements and information are based on certain key expectations and assumptions made by Jaguar, including timing for the completion of the audit by the Company's auditors for the year-ended December 31, 2017, the restatement of the financial statements for the years ended December 31, 2015 and 2016, and the revised reserves evaluation to be completed by the Company's independent reserves evaluators. 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. These risks and uncertainties, include, but are not limited to, the audit taking longer than expected, additional changes to the financial statements or previous financial statements arising as a result of the restatement, and the timing for completion of a new oil and gas reserves evaluation. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. 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 or the TSX Venture Exchange.