Centaurus Provides Update on Filing of 2021 Annual Financial Statements

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Calgary, Alberta–(Newsfile Corp. – May 17, 2022) – Centaurus Energy Inc. (TSXV: CTA) (OTC Rose: CTARF) (“Centaur” or the “Company“) provides this bi-weekly defect status report in accordance with National Policy 12-203 – Cease Trade Orders for Continuing Disclosure Failures (“NP 12-203“). In the Company’s initial default announcement of April 25, 2021 (the “Notice of Default“), the Company announced the postponement of the filing of its audited annual financial statements, accompanying MD&A and related CEO and CFO certifications for the fiscal year ended December 31, 2021 (the “Annual deposits“).

As previously announced in the Company’s press release dated May 4, 2022, the Company has requested and obtained a management cease trade order regarding the delayed annual filings (the “MCTO“) by the Alberta Securities Commission. The MCTO prohibits the Company’s Chief Executive Officer and Chief Financial Officer from trading in the Company’s securities while there are outstanding filings outstanding. under applicable securities laws.The MCTO does not affect the ability of the General Investing Public to trade in the Company’s publicly traded common stock.

The Company’s Board of Directors and its management work diligently to meet the Company’s obligations relating to the filing of annual documents. The Company currently expects to be able to complete annual filings no later than June 30, 2022.

The Company confirms that since the Notice of Default: (i) there has been no material change in the information contained in the Notice of Default that has not been generally disclosed; (ii) there has been no failure by the Company to fulfill its stated intentions with respect to satisfying the provisions of the alternative disclosure guidelines set forth in NP 12-203; (iii) there has been no other default specified by the Company under IG 12-203; and (iv) there is no other material information concerning the affairs of the Company that has not been generally disclosed.

The Company will continue to comply with the provisions of the Alternative Disclosure Guidelines under NP 12-203 by issuing default status reports every two weeks in the form of press releases as long as it remains in default. filing requirements set out above.

About Centaurus Energy

Centaurus is an independent upstream oil and gas company with conventional and unconventional oil and gas operations in Argentina. The Company’s shares trade on the TSX Venture Exchange under the symbol CTA and on the OTC Pink Market under the symbol CTARF.

FOR MORE INFORMATION, PLEASE CONTACT:
David Tawil, Acting General Manager
email: [email protected]
phone: (646) 479-9387

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.

CAUTION REGARDING FORWARD-LOOKING INFORMATION: This press release contains certain “forward-looking statements” under applicable Canadian securities laws. Forward-looking statements include, but are not limited to, statements regarding the filing of annual filings and their timing. Forward-looking statements are necessarily based on a number of estimates and assumptions which, while believed to be reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results to differ. and future events differ materially from those expressed or implied. by such forward-looking statements. These factors include, but are not limited to, management’s perceptions of the expected conditions, timing and likelihood of completion of the proposed transaction, operational matters, historical trends, current conditions and expected future developments, as well as other considerations deemed appropriate. in the circumstances. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/124193

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