Oremex Silver Inc. Updates Status of Management Cease Trade Order
May 06 2014 - 12:52PM
Marketwired
Oremex Silver Inc. Updates Status of Management Cease Trade Order
TORONTO, ONTARIO--(Marketwired - May 6, 2014) - Oremex Silver
Inc. (TSX-VENTURE:OAG) ("Oremex" or the "Company") announced today
that further to its news release on April 1, 2014 (the "Default
Announcement"), the British Colombia Securities Commission issued a
management cease trade order on April 1, 2014 (the "MCTO") for
failure to its annual financial statements, CEO and CFO
certifications and management discussion and analysis for the year
ended November 30, 2013 (the "Annual Filings") by the deadline of
March 30, 2013. The MCTO prohibits all trading by certain insiders
of Oremex in securities of the Company until the order is revoked.
The Company is required to provide bi-weekly status updates in
accordance with National Policy 12-203 - Cease Trade Orders for
Continuous Disclosure Defaults until the MCTO has been revoked of a
full cease trade order issued.
The Company has now obtained all the documentation required
regarding its Mexican operations and expects to complete the
accounting related to its Canadian operations in two weeks. The
auditors will then commence the audit process. The Company
continues to anticipate that the Annual Filings will be completed
on or before May 30, 2014.
About Oremex
Oremex is a Canadian company focusing on the exploration and
development of silver projects along a highly productive
mineralized belt in Mexico. The Company has a portfolio of silver
projects including a mineral resource of 50.8 million ounces of
silver at its Tejamen deposit.
Forward-Looking Statements
Forward-Looking Statements: The above contains forward-looking
statements that are subject to a number of known and unknown risks,
uncertainties and other factors that may cause actual results to
differ materially from those anticipated in our forward-looking
statements. Factors that could cause such differences include:
changes in world commodity markets, equity markets, costs and
supply of materials relevant to the mining industry, change in
government and changes to regulations affecting the mining
industry. Forward-looking statements in this release include
statements regarding future exploration programs, operation plans,
geological interpretations, mineral tenure issues and mineral
recovery processes. Although we believe the expectations reflected
in our forward-looking statements are reasonable, results may vary,
and we cannot guarantee future results, levels of activity,
performance or achievements.
Neither 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.
Oremex Silver Inc.Allan FolkDirectorAfolk.bb@gmail.com
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