Typhoon to reduce operation expenses during the COVID-19 pandemic

PIEDMONT, QC, April 9, 2020 /CNW Telbec/ - Typhoon Exploration Inc. (TSXV: TYP) ("Typhoon") announces the reduction of its operation expenses for the duration of the COVID-19 pandemic.

The COVID-19 pandemic has reduced public companies' financing, and Typhoon is no exception.

Even if Typhoon maintains a good current ratio, its Board of Directors has decided to reduce the company's operation and exploration expenses for the duration of the pandemic.

Starting May 1^st, Typhoon will protect its working capital by reducing by 50% its corporate executives' salaries, wages, and vehicle allowances.

Further, in accordance with the Governments' statutory directions concerning the preventive measures and precautions to take in the context of the COVID-19 pandemic, Typhoon is suspending all its field exploration activities until the Governments allow them.

Serge Roy, Executive Chairman, said: "During this difficult time, our priority is the health and safety of everyone, which is why Typhoon is following the Governments' guidance exactly."

About Typhoon Exploration:

A junior exploration company, Typhoon is well positioned with relatively low operating costs, $550,000 cash equivalent, and $230 000 reserved for exploration programs. Typhoon is expecting to receive 1,333,333 shares and the sum of $150 000 from Monarch Gold Corporation, respectively on April 20 and July 19 this year.

SOURCE Typhoon Exploration Inc.

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