Affinity Gold Corp. Updates Sharesholders Regarding OTC Markets Listing Status
November 07 2013 - 9:11AM
Marketwired
Affinity Gold Corp. Updates Sharesholders Regarding OTC Markets
Listing Status
MAPLE GROVE, MN--(Marketwired - Nov 7, 2013) - Affinity Gold
Corp. (OTC Pink: AFYG) ("Affinity" or "the Company") is pleased to
update its shareholders regarding its progress towards addressing
and improving its listing status with the OTC Markets and
regulatory status with the Securities & Exchange Commission
("S.E.C.").
In an effort to address our OTC Markets listing status, on
Monday, the Company filed a Form 8K with the S.E.C. which can be
viewed on their website at www.sec.gov. In addition, the
Company's legal counsel submitted a letter to OTC Markets regarding
the Company's current plans for, and progress towards, becoming
current in its regulatory filings. The Company's recent 8-K
filing marks the point from which it intends to continue filing
notices of material events going forward as it progresses towards
becoming fully compliant with the S.E.C.
As mentioned previously, the Company has also been in
communication since early September with the SEC Division of
Corporation Finance's Office of Chief Accountant ("CFOCA") to
determine how best to proceed with becoming current in its
regulatory filing requirements. Since the Company is a 15(d)
company it qualifies for an allowance permitting it to file a
comprehensive 10-K covering the reporting periods since becoming
delinquent, as opposed to having to file each K and Q during the
same period. The Company is expected to have the application
submitted for this allowance within the next few days.
As our application with the CFOCA for the allowance is being
processed, we intend to finalize the Company's books and records to
be audit-ready by the end of the month. During this time, we
also intend to begin compiling the comprehensive 10K and subsequent
10Q's as necessary in addition to coordinating the audit process to
begin.
The Company will continue to work with OTC Markets, the S.E.C.
and state regulatory bodies to satisfy any and all of the company's
regulatory reporting obligations as quickly as the Company, and its
professional service providers, are able to act.
"As stated previously, this temporary change in status with OTC
Markets is of no reflection of what we have going for us. What's
exciting today is that we are positioned with the necessary
resources enabling us to act quickly towards accomplishing this
objective. This is a major milestone that I am eagerly looking
forward to accomplishing," stated President & CEO, Corey J.
Sandberg.
About Affinity Gold Corp.: Affinity Gold Corp. is a mineral
exploration and development company engaged in the acquisition and
development of near-term precious mineral production properties
within Peru. Affinity Gold Corp.'s primary focus is on developing
assets that have demonstrated historical production, contain
documented and reliable data and can reasonably begin producing
within 12-18 months at a cost of less than $900 per gold equivalent
ounce. www.affinitygold.com
For further information please refer to the Company's
filings with the SEC on EDGAR available at
www.sec.gov
FORWARD-LOOKING STATEMENTS This news release may include
"forward-looking statements" regarding Affinity Gold Corp., and its
subsidiaries, business and project plans. Such forward-looking
statements are within the meaning of Section 27A of the Securities
Act of 1933, as amended, and section 21E of the United States
Securities and Exchange Act of 1934, as amended, and are intended
to be covered by the safe harbor created by such sections. Where
Affinity Gold Corp. expresses or implies an expectation or belief
as to future events or results, such expectation or belief is
believed to have a reasonable basis. However, forward-looking
statements are subject to risks, uncertainties and other factors,
which could cause actual results to differ materially from future
results expressed, projected or implied by such forward-looking
statements. Affinity Gold Corp. does not undertake any obligation
to update any forward-looking statement, except as required under
applicable law.
CONTACT: AFFINITY GOLD CORP. Corey J. Sandberg 763-424-4754
csandberg@affinitygold.com
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