Cline Obtains Revocation of Previously Issued Cease Trade Orders
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 05/04/15 -- Cline Mining Corporation ("Cline" or the "Company") is pleased to announce that each of the Ontario Securities Commission, the Autorite des marches financiers and the Manitoba Securities Commission has revoked the cease trade orders previously issued by said commissions in respect of the securities of the Company (the "Cease Trade Orders").
The Cease Trade Orders were issued due to the delay by the Company in filing of its year-end financial statements for the period ended November 30, 2014. All of such disclosure documents are now filed and available for review online at SEDAR under the Company's profile. Cline also filed its interim unaudited financials and MD&A for the three-month period ended February 28, 2015.
The Company previously announced that it is currently under proceedings pursuant to the Companies' Creditors Arrangement Act ("CCAA"). Under the terms of the recapitalization plan approved by the Ontario Supreme Court of Justice (the "Court") in respect of Cline, it is expected that the existing common shares of Cline will be cancelled. Cline intends to apply to cease to be a reporting issuer upon completion of the recapitalization plan.
About Cline
Cline is a Canadian mining company headquartered in Toronto, Ontario with resource development interests in Canada, the United States and Madagascar. For further details on Cline, please refer to Cline's web site () and Cline's Canadian regulatory filings on SEDAR at
Forward-Looking Information
This press release contains forward-looking statements (including "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the US Private Securities Litigation Reform Act of 1995) relating to, among other things, the proposed Recapitalization and the Company's future financial condition. Generally, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Such statements are based on assumptions, estimates, forecasts and projections made in light of the trends, conditions and expected developments that are considered to be relevant and reasonable in the circumstances at the date that such statements are made. Forward-looking statements are not guarantees of future performance and such information is inherently subject to known and unknown risks, uncertainties and other factors that are difficult to predict and may be beyond the control of the Company. A number of factors and assumptions may cause actual results, level of activity, performance or outcomes of the Company to be materially different from those expressed or implied by such forward-looking statements including, without limitation, executing the Recapitalization Plan and otherwise satisfying the conditions precedent to the implementation of the Recapitalization Plan. There can be no guarantee the Company will complete the Recapitalization Plan. Consequently, undue reliance should not be placed on such forward-looking statements. In addition, all forward-looking statements in this press release are given as of the date hereof. 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, save and except as may be required by applicable securities laws.
Contacts:
Cline Mining Corporation
Matt Goldfarb, Chief Restructuring Officer
and Acting Chief Executive Officer
+1 (416) 572-2456
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Datum: 04.05.2015 - 21:05 Uhr
Sprache: Deutsch
News-ID 390675
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contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Mining & Metals
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