Nextraction Announces Filing of Revised 2018 MD&A

CALGARY, AB / ACCESSWIRE / February 3, 2020 / On September 11, 2019 Nextraction Energy Corp. (NEX:NE.H) (the “Company” or “Nextraction“) filed its Financial Statements and the Management’s Discussion and Analysis (“2018 MD&A”) for the year ended 2018. Subsequent to the filing and release of the Financial Statements and 2018 MD&A, the Company became aware of additional information and changes to be made to the 2018 MD&A. The nature and substance of the changes are as follows:

  1. The Company further reconciled debt, debenture and interest amounts listed on the audited December 31, 2018 Financial Statements (also filed September 11, 2019) to amounts disclosed in the MD&A. Amounts are reconciled to Financial Statement amounts on a new table found on page 3 of the MD&A in the section titled, “Overview, Achievements, Highlights and Challenges”. There have been no changes to the December 31, 2018 Financial Statements.
  2. Language has been removed regarding the Company’s previous business activities that are no longer applicable to the Company including identifying that the Company is no longer involved in the oil and gas business.
  3. A more comprehensive discussion of the Company’s operations and financial results have been included in the MD&A.
  4. Further disclosure has been added to the Related Party Note.
  5. A section entitled “Regulatory Matters’ has been added to include developments up to the date of publication of the revised MD&A.
  6. The revised 2018 MD&A has been filed on SEDAR today.

For further information please contact:

John Zang, CEO
Telephone: 403 680 9264

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Information in this news release may contain forward looking information. Statements containing forward looking information express, as at the date of this news release, the Company’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the company.

There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.

The forward-looking information contained in this news release is as of the date hereof and Nextraction does not undertake any obligation to update publicly or to revise any of the included forward looking statements contained herein, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities and Exchange Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

SOURCE: Nextraction Energy Corp.

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