CALGARY, Alberta, Aug. 27, 2020 (GLOBE NEWSWIRE) — Athabasca Minerals Inc. (“Athabasca”, “AMI” or the “Corporation”) – TSXV: AMI announces its financial results for the second quarter ended June 30, 2020. The Corporation’s financial statements and management’s discussion and analysis (“MD&A”) are available on SEDAR at www.sedar.com and on the Athabasca Minerals Inc. website at www.athabascaminerals.com. The Corporation also announces the Annual and Special Meeting will be held on September 22, 2020.
Robert Beekhuizen stated: “In the second quarter of 2020, Alberta and the world faced ongoing challenges due to the continued impact of the COVID-19 pandemic. Although we are still cautious, there are signs of increased activity in certain industries in Western Canada for the second half of 2020. We also expect to operate with lower costs and drive toward our strategic initiatives.”“We are pleased with the continuation of our strategic initiatives including the announcement of the TerraShift Engineering acquisition and the continued progress with our pending joint venture partner on Front-End Engineering & Development of the Duvernay Silica Sand Project.”In the second quarter of 2020, Athabasca reported consolidated revenue of $0.2 million ($1.0 million in Q2 2019) with improved total loss and comprehensive loss of $0.7 million, compared to a loss of $1.5 million in the Q2 2019.The Corporation implemented new health and safety policies and protocols in response to the COVID-19 pandemic. The Corporation’s business continuity plan incorporates government recommended practices with consideration of the health and safety of its employees, field operations, and customers. The Corporation and its subsidiaries have been able to safely continue operations.BUSINESS HIGHLIGHTS
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