Jura Energy Corporation Announces Annual and Q1 Filings Updates

CALGARY, Alberta, April 27, 2020 (GLOBE NEWSWIRE) -- Jura Energy Corporation (“Jura” or the “Company”) announces that filing of the Company’s annual financial statements for the financial year ended December 31, 2019 and related management’s discussion and analysis and annual information form (collectively, the “Annual Filings”) and the Company’s interim financial statements for the three month period ended March 31, 2020 and related management’s discussion and analysis (collectively, the “Q1 Filings”) will be postponed due to delays caused by the COVID-19 pandemic.

Although the Annual Filings would ordinarily have been filed on or before April 29, 2020, and the Q1 Filings would ordinarily have been filed on or before May 30, 2020, pursuant to ASC Blanket Order 51-517 - Temporary Exemption from Certain Corporate Finance Requirements (the “Blanket Order”) the Company has up to an additional 45 days from the deadline otherwise applicable under Alberta securities laws to file the Annual Filings and Q1 Filings, provided that it complies with certain requirements set out in the Blanket Order. Accordingly, Jura is relying on the relief contained in the Blanket Order for its Annual Filings and Q1 Filings required under National Instrument 51-102 - Continuous Disclosure Obligations.

Until the Company has filed and announced the required Annual Filings and Q1 Filings all management and other insiders are subject to the Company’s share trading and black-out policy that reflects the principles in section 9 of National Policy 11-207 - Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.

Jura estimates that the Annual Filings will be filed no later than June 12, 2020, and that the Q1 Filings will be filed no later than July 15, 2020.

Since September 30, 2019 (the date of the last financial reports that the Company filed), the Company has disclosed by way of news release the following material business developments:

• The commencement of drilling of the Zarghun South-4 development well in the Zarghun South Development and Production Lease as announced by the Company on January 13, 2020;
   
• The closing of a syndicated term finance facility of Pakistan Rupees (“PKR”) 2,000 million (approximately US$12.95 million) consisting of a syndicated conventional term finance facility of PKR 1,550 million (approximately US$10.03 million) and a shariah compliant Islamic diminishing musharaka term finance facility of PKR 450 million (approximately US$2.92 million), as announced by the Company on February 1, 2020;