Alhambra Provides Progress Report on Audit Status
May 16 2014 - 3:01PM
Marketwired
Alhambra Provides Progress Report on Audit Status
CALGARY, ALBERTA--(Marketwired - May 16, 2014) - Alhambra
Resources Ltd. (TSX-VENTURE:ALH) ("Alhambra" or the "Corporation")
is providing this bi-weekly Default Status Report in accordance
with National Policy 12-203 - Cease Trade Orders for Continuous
Disclosure Defaults ("NP 12-203"). On April 11, 2014, the
Corporation announced (the "Default Notice") that it expected there
would be a delay in filing its 2013 annual audited financial
statements, management's discussion and analysis and CEO and CFO
certificates (collectively, the "2013 Annual Audited Financial
Statements") within the 120 day period prescribed for the filing of
such documents for reasons disclosed within that announcement.
In accordance with NP 12-203, and as previously announced, the
Corporation applied to the Alberta Securities Commission ("ASC")
for a Management Cease Trade Order ("MCTO") related to the
Corporation's common shares to be imposed against certain
Corporation executives instead of a general cease trade order being
imposed against all the securities of the Corporation. On May 2,
2014, the ASC issued a temporary MCTO.
Alhambra is currently preparing its 2013 Annual Audited
Financial Statements for audit, and the Corporation expects to file
these statements on or before June 30, 2014. Until these statements
are filed, Alhambra intends to continue to satisfy the requirements
of Section 4.4 of National Policy 12-203 - Alternative Information
Guidelines ("AIG") by issuing bi-weekly Default Status Reports,
each of which will be issued in the form of a news release.
Pursuant to the requirements of AIG, the Corporation reports
that since the issuance of the Default Notice, there have not been
any material changes to the information provided therein other than
as described herein nor has there been any failure by the
Corporation in fulfilling its stated intentions with respect to
satisfying the AIG. In addition, there has not been any other
specified default by the Corporation under NP 12-203 nor are any
anticipated and there is no other material information concerning
the affairs of the Corporation that has not been generally
disclosed.
ABOUT ALHAMBRA
Alhambra is a Canadian based international exploration and
production corporation producing gold in Kazakhstan.
Alhambra common shares trade in Canada on The TSX Venture
Exchange under the symbol ALH, in the United States on the
Over-The-Counter Pink Sheets Market under the symbol AHBRF and in
Germany on the Frankfurt Open Market under the symbol A4Y. The
Corporation's website can be accessed at
www.alhambraresources.com.
Neither the 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.
Forward-Looking Statements
Certain statements contained in this release constitute
"forward-looking statements". These statements relate to future
events or future performance. The use of any of the words "could",
"intend", "expect", "believe", "will", "projected", "estimated" and
similar expressions and statements relating to matters that are not
historical facts are intended to identify forward-looking
information and are based on the Corporation's current belief or
assumptions as to the outcome and timing of such future events.
Actual future results may differ materially. In particular, this
release contains forward-looking statements relating to the audit
and filing of the 2013 Annual Audited Financial Statements. Various
assumptions or factors are typically applied in drawing conclusions
or making the forecasts or projections set out in forward-looking
statements. Those assumptions and factors are based on information
currently available to the Corporation. The material factors and
assumptions with respect to the audit and filing of the 2013 Annual
Audited Financial Statements include the auditors not encountering
anything out of the ordinary that would cause the auditors not to
be able to complete the audit as anticipated. Risk Factors that
could cause actual results or outcomes to differ materially from
the results expressed or implied by forward-looking statements
include, among other things: general economic and business
conditions, and political, social and other risks inherent in
carrying on business in a foreign jurisdiction. Forward-looking
statements contained in this release are made based on Management's
beliefs, estimates and opinions on the date the statements are made
and the Corporation undertakes no obligation to update
forward-looking statements and if these beliefs, estimates and
opinions or other circumstances should change, except as required
by applicable law. Because of the risks, uncertainties and
assumptions contained herein, investors should not place undue
reliance on forward-looking statements. The forward-looking
statements contained herein are expressly qualified by this
cautionary statement.
Alhambra Resources Ltd.Ihor P. WasylkiwVP & Chief
Information Officer+1 (403) 508-4953Alhambra Resources Ltd.Donald
D. McKechnieVP Finance and Chief Financial Officer+ 1 (403)
228-2855+ 1 (403) 228-2865
Alhambra Resources Ltd. (TSXV:ALH)
Historical Stock Chart
From May 2024 to Jun 2024
Alhambra Resources Ltd. (TSXV:ALH)
Historical Stock Chart
From Jun 2023 to Jun 2024