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Sun Metals Erroneously Posts a Draft News Release on 2019 Stardust Exploration

PUBLIC SERVICE ANNOUNCEMENT

NOTE: The below is only for historical purposes, the information is NOT actual disclosure or dissemination. The news release described in this post has been issued by the company this morning:

https://sunmetals.ca/news/2020/sun-metals-extends-plunge-length-of-high-grade-copper-gold-massive-sulphide-discovery-to-325-metres-in-421-zone/

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I'm not going to go into all the details here and now, this is just for posting the draft PDF news release that Sun Metals erroneously(?) put on its website early on Friday, January 17, 2020.

You don't see this type of situation often where the IIROC regulation on fair dissemination of material information has been so thoroughly violated (by accident or otherwise). The scenario means that a number of investors who went to the Sun Metals website and noticed the news posting were able to buy (doubtful) and sell (for sure) during market hours using the inadequately-disseminated material information disclosed in the draft release.

Moreover, this draft release was possibly sent for legal or technical review all the way back on January 6 based on the name of the PDF file. This is interesting because on January 6 the shares dropped 13% on heavy volume (the TSX venture composite was down 1% that day by comparison).


I post below the PDF copy of the draft release -- downloaded from the Sun Metals website at 12:38pm PST on January 17 -- for weekend perusal by interested parties. Rectification and consequences expected to ensue on Monday. Or not/never, since this happened in Canada, the land of regulation softer than the porn in a redacted copy of Sense and Sensibility found in the library at Oral Roberts University.

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