NG Energy Provides Bi-Weekly Status Report Regarding Management Cease Trade Order and Update on Annual Financial Statements

VANCOUVER, BC, June 1, 2021 /CNW/ - NG Energy International Corp. ("NGE" or the "Company") (TSXV: GASX) (OTCQX: GASXF) is providing this update with respect to the management cease trade order ("MCTO") issued by the British Columbia Securities Commission ("BCSC") on May 4, 2021.  The MCTO was issued in connection with the filing of the Company's audited annual financial statements for the year ended December 31, 2020 and the related management's discussion and analysis ("MD&A") and certifications (the "Annual Filings"). 

In a follow up to the Company's bi-weekly status update issued by NGE on May 18, 2021, the Company continues to work  toward finalizing its Annual Filings and expects to be in a position to file in June.

Furthermore, the Company's interim financial statements for the three months  ended March 31, 2021, the accompanying management's discussion and analysis and the related CEO and CFO certifications will not be filed by the prescribed filing deadline and will be filed after the Annual Filings are completed and filed.

The  Company  is  providing  this  status  update  in  accordance  with  National  Policy  12-203  Management Cease  Trade  Orders ("NP  12-203").  The  Company  intends  to  follow  the  provisions  of  the  Alternative  Information Guidelines under NP 12-203, by issuing bi-weekly default status reports in the form of news releases. The Company confirms as of the date of this news release that there has been no material change in the information contained in the default announcement issued on May 4, 2021 and there is no other material information concerning the affairs of the Company that has not been generally disclosed.

During the MCTO, the general investing public will continue to be able to trade in the Company's common shares listed on the TSX Venture Exchange. However, the Company's Chief Executive Officer and Chief Financial Officer will not be able to trade in the Company's shares until the Annual Filings have been filed.

About NG Energy International Corp.

NG Energy International Corp. is a publicly traded E&P company on a mission to provide a clean and sustainable solution to Colombia's energy needs. The Company intends on executing this mission by producing and bringing gas to the premium priced Colombian gas market from its concessions, SN-9, a 311,353 acres block which is adjacent to Canacol's Nelson field, as well Maria Conchita, a 32,518 acre block located in the region of La Guajira. NGE's team has extensive  technical expertise and a proven track record of building companies and creating value in South America. For more information, please visit SEDAR (www.sedar.com) and the Company's website (www.ngenergyintl.com).

Neither the 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.

SOURCE NG Energy International Corp.

NG Energy International Corp., Serafino Iacono, CEO; Marianella Bernal Parada, CFO, Tel: [phone]