DRC.H Dragonfly Capital Corp

Dragonfly Capital Corp. (TSXV: DRC.H) (“Dragonfly” or the “Company”) announces today that owing to, among other things, COVID-19’s impact on certain human resources, it is unable to meet its filing deadline of August 28, 2020 to file its audited annual financial statements for the year ended April 30, 2020 and accompanying management’s discussion and analysis, and related CEO and CFO certifications (the “Annual Filings”). The Company expects to file its Annual Filings on or before October 12, 2020.

The Company is relying on the exemption provided in BC Instrument 51-517 - Temporary Exemption from Certain Corporate Finance Requirements with deadlines during the period from June 2 to August 31, 2020 (the “BC Instrument”).  The BC Instrument provides the Company with an additional 45 days from the deadline otherwise applicable under British Columbia securities laws to make the filing. Until the Company has filed the Annual Filings, members of the Company’s management and other insiders are subject to a trading blackout reflecting the principles contained in section 9 of National Policy 11-207 Failure to File Cease Trade Orders and Revocations in Multiple Jurisdictions.

There have been no material business developments since the filing of its interim financial statements and related management’s discussion and analysis for the nine month period ended January 31, 2020 that has not been otherwise disclosed by the Company by way of news release.

NEITHER 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.

Forward-looking information

The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward-looking information under applicable Canadian securities laws (“forward-looking statements”). These forward-looking statements are based upon assumptions and subject to a number of conditions, including, without limitation, the receipt of regulatory approvals which are subject to risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Although Dragonfly believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, Dragonfly disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

For further information contact:Paul Kania(647) 891-1721paul@acgroup.ca