TORONTO,
Jan. 27, 2014 /PRNewswire/ - Cerro
Grande Mining Corporation (the "Company" or "CEG")
(TSX: CEG) (OTCQX: CEGMF) has been advised that the Toronto Stock
Exchange ("TSX") is reviewing the eligibility for continued
listing on TSX of the securities of the Company pursuant to Part
VII of The Toronto Stock Exchange Company Manual (the
"Manual"). Specifically, the TSX is reviewing the Company
with respect to the requirement to maintain a market value of
publicly held listed securities of $2.0
million for 30 previous consecutive trading days.
The Company is being reviewed under the Remedial
Review Process of the TSX and has been granted 120 days to comply
with all requirements for continued listing. If the Company cannot
demonstrate that it meets all TSX requirements set out in Part VII
of the Manual on or before May 27,
2014, the Company's securities will be delisted 30 days from
such date.
Should the TSX decide to delist the securities
of the Company, the Company intends to pursue a listing of its
securities on the TSX Venture Exchange and ensure, to the extent
possible, uninterrupted trading for the Company's securities.
Cerro Grande Mining Corporation is a minerals
producing, exploration and development company with properties and
activities currently focused in Chile.
Forward-Looking Information
This press release may contain forward-looking
statements based on assumptions, uncertainties and management's
best estimates of future events. All statements that address future
activities, events or developments that the Company believes,
expects or anticipates will or may occur are forward-looking
information. Forward-looking information is based upon assumptions
by management that are subject to known and unknown risks and
uncertainties and other factors that may cause actual results to
differ materially from those expressed or implied by the
forwardlooking information. Factors that may cause actual results
to vary materially include, but are not limited to eligibility to
list the securities of the Company on the TSX Venture Exchange and
changes in general economic conditions or conditions in the
financial markets. Such forward-looking information is based on a
number of assumptions, including but not limited to, there being no
significant decline in existing general business and economic
conditions. Accordingly, readers should not place undue reliance on
forward-looking information. The Company undertakes no obligations
to update publicly or otherwise revise any forward-looking
information, except as may be required by law. For a more detailed
discussion of such risks and other factors that could cause actual
results to differ materially from those expressed or implied by
such forward-looking statements, refer to the Company's filings
with the Canadian securities regulators available on
www.sedar.com.
SOURCE Cerro Grande Mining Corporation