TORONTO, March 11, 2020 (GLOBE NEWSWIRE) -- CF Energy Corp. (TSX-V: CFY) (“CF Energy” or the “Company”, together with its subsidiaries, the “Group”), an energy service provider in the People’s Republic of China (the ”PRC”) is pleased to announce the following:
COVID-19 and Operational Update
The Sanya City official media has released public notification of “Zero COVID-19 Patient” status in the City. The last known patient has fully recovered and has been discharged from hospital recently. The City’s COVID-19 daily update publication has shown zero new cases for more than a month. With the successful containment of COVID-19 in Sanya City, the Company is pleased to announce that all of its employees in Sanya City have now returned to work, seeing an end to the work-from-home arrangements.
Following the Company’s earlier announcement of the CNOOC Pipeline Fuel & Chemical (Hainan) Limited (“CNOOC”) allowing the Group to delay the gas payments to it for March, April and May of 2020 until June 30, 2020, the Company is pleased to announce that it has received similar support from CNOOC Gas & Electricity Group Ltd.
Haitang Bay Smart Energy Project
Construction work of the Haitang Bay Smart Energy Project has officially started on Monday, March 9, 2020. The Company expects to complete phase one construction and commence operation by Q1 of 2021.
“It has been a tough fight against the COVID-19 infections. We were fortunate that none of our staff were infected during the outbreak and pleased to see that our City has returned to a COVID-19 free environment. It will take some time to recover all losses incurred as a result of this virus in the last two months, but we will work hard towards hastening recovery. We will also make sure that the contributions we make towards the fight against the virus will be well-delivered,” Ann Lin, the Chair and CEO of the Company said.
About CF Energy Corp. (Previously known as: Changfeng Energy Inc.)
CF Energy Corp. is a Canadian public company currently traded on the Toronto Venture Exchange (“TSX-V”) under the stock symbol “CFY”. It is an integrated energy provider and natural gas distribution company (or natural gas utility) in the PRC. CF Energy strives to combine leading clean energy technology with natural gas usage to provide sustainable energy to its customer base in the PRC. In 2009, CF Energy was recognized as being one of China’s the Top Ten Most Influential Brands in the Natural Gas Industry and in 2019, ranked amongst the 2019 TSX Venture 50 top performers on the TSXV for the 2018 year.
CONTACT INFORMATION
Corporate Investment Relations
investor.relations@changfengenergy.cn
Charles Wang
Executive Assistant to CEO & Chair of the Board
Zhaoyu.wang@changfengenergy.cn
Frederick Wong
Director of the Board
fred.wong@changfengenergy.cn
Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking statements and forward-looking information (collectively, “Forward-Looking Statements”). All statements, other than statements of historical fact, included or incorporated by reference in this document are Forward-Looking Statements, including statements regarding activities, events or developments that the Company expects or anticipates may occur in the future. These Forward-Looking statements can be identified by the use of forward-looking words such as “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe” or “continue” or similar words or the negative thereof. No assurance can be given that the plans, intentions or expectations or assumptions upon which these Forward-Looking Statements are based will prove to be correct and such Forward-Looking Statements included in this news release should not be unduly relied upon.
Although management believes that the expectations represented in such Forward-Looking Statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such Forward-Looking Statements are not a guarantee of performance and involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such Forward-Looking Statements. These factors include, without limitation, no significant and continuing adverse changes in general economic conditions or conditions in the financial markets. Readers are cautioned that all Forward-Looking Statements involve risks and uncertainties, including those risks and uncertainties detailed in the Corporation’s filings with applicable Canadian securities regulatory authorities, copies of which are available at www.sedar.com. The Company urges readers to carefully consider those factors.
The Forward-Looking Statements included in this news release are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any Forward-Looking Statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.