Toscana Energy Provides Further Update on Continuous Disclosure Filings

CALGARY, Alberta, June 17, 2020 (GLOBE NEWSWIRE) — Toscana Energy Income Corporation (“Toscana” or the “Corporation”) (TSX: TEI) announces that, further to its May 14, 2020 news release, Toscana will be postponing its reporting of the Corporation’s first quarter financial statements, accompanying management’s discussion and analysis, and related certifications for the period ended March 31, 2020 (the “Q1 Filings”), to June 26, 2020.
This news release is being issued in accordance to the blanket relief of a 45-day extension provided by the Canadian Securities Administrators and Alberta Order 51-517 – Temporary Exemption from Certain Corporate Finance Requirements for periodic filings normally required to be made by issuers during the period from March 23, 2020 to June 1, 2020.Until such time as these filings are made, Toscana’s management and other insiders are subject to a trading blackout that reflects the principles contained in section 9 of National Policy 11-207 – Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.Other than as previously announced by Toscana on March 30, 2020 of entering into an option agreement with i3 Energy plc, and the acquisition by i3 Energy plc of Toscana’s senior bank debt and subordinated note, there have been no material business developments since the date of Toscana’s audited consolidated financial statements for the years ended December 31, 2019 and 2018 that were filed on March 30, 2020, a copy of which is available on SEDAR at www.sedar.com.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 relating to the timing of the Corporation’s expected filing date for Toscana’s Q1 Filings. Although management of the Corporation believes that the expectations and assumptions on which such forward looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the Toronto Stock Exchange.  The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.About Toscana Energy Income CorporationToscana Energy Income Corporation is a conventional oil and gas producer with the mandate to acquire high quality, long life oil and gas assets.For further information, please contact:
Ryan Heath, Chief Executive Officer
Tel: (403) 355-0455
Fax: (403) 444-0090
SOURCE: Toscana Energy Income Corporation