Pershimco Announces a Settlement With Respect to the Statements of Offence Issued by the AMF in 2012
February 10 2014 - 6:03PM
Marketwired
Pershimco Announces a Settlement With Respect to the Statements of
Offence Issued by the AMF in 2012
ROUYN-NORANDA, QUEBEC--(Marketwired - Feb 10, 2014) - Pershimco
Resources Inc. (the "Company" or "Pershimco")
(TSX-VENTURE:PRO)(FRANKFURT:BIZ) wishes to inform its shareholders
that after having vigorously contested the 41 statements of offense
issued against the Company and its Chairman, the Autorité des
marchés financiers (the « AMF ») has accepted a conditional stay of
proceedings against Mr. Roger Bureau for 95% of the statements of
offense issued against him and 66.6% of those issued against the
Company.
The global and definitive settlement relating to events which
occurred over 7 years ago in December 2006, can be summarized as
follows : (i) Mr. Roger Bureau accepts to plead guilty to an
amended statement of offense stating he assisted the Company in
concluding various private placements without a prospectus in
December 2006, the payable fine for this statement of offense being
set at $30,000; and (ii) Pershimco accepts to plead guilty to seven
specific statements of offense of individual private placements
concluded in December 2006, with a fine of $7,500 each, in addition
to fees of $2,500, for a total of $55,000.
The Company and Mr. Bureau have accepted to settle the file with
its shareholders' best interests in mind. Initial fines amounting
to $512,500 have been reduced to $85,000.
Since the issuance of the AMF's allegations, Pershimco has
changed its governance practices in order to avoid future
observations by the AMF. It is to be noted that Pershimco has been
ranked 30th amongst over 1,290 listed junior resource companies on
the TSX Venture Exchange by the firm PricewaterhouseCoopers LLP and
has concluded private placements for over 65 million dollars since
2007.
About Pershimco Resources Inc.
Pershimco Resources Inc. is a mineral exploration and
development company listed on the TSX Venture Exchange and the
Frankfurt Exchange with a near-production oxide gold project in
Panama. The Cerro Quema project is composed of multiple gold oxide
deposits within a 15,000 ha extraction permitted concessions
package. The Company is also exploring, within the same
concessions, the potential of a Copper-Gold porphyry at depth. The
Company is led by a skilled management team with extensive
experience in the mining sector, as well as a proven track record
of building successful operating mining facilities in the Americas.
With strong support from its shareholders, the Pershimco team is
positioned for success.
The Company's documents are available on www.sedar.com.
Please visit the Company's website at www.pershimco.ca.
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 news release. Statements made in this news release
that are not historical facts are "forward-looking statements" and
readers are cautioned that any such statements are not guarantees
of future performance, and that actual developments or results, may
vary materially from those in these "forward-looking"
statement.
Alain Bureau, P. Eng.President and Chief Executive Officer+1
(819) 797-2180ressources@pershimco.caElina ChowInvestor Relations+1
(416) 845-8495info@pershimco.ca
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