TORONTO, Jan. 15, 2016 /CNW/ - Amato Exploration Ltd. (the "Company" or "Amato"), is advising that, in accordance with TSX Venture Exchange Policy 2.5, the Company has not maintained the requirements for a Tier 2 Company. The Company must transfer its shares from trading on the TSX Venture Exchange (the "Exchange" or "TSX-V") and transition to the NEX Board of the Exchange ("NEX"). Effective as of market open on Monday, January 18, 2016, Amato's listing will transfer to NEX, Amato's Tier classification will change from Tier 2 to NEX, and the Filing and Service Office will change from Vancouver to NEX.
As of January 18, 2016, the Company is subject to restrictions on share issuances and certain types of payments as set out in the NEX policies.
The trading symbol for the Company will change from AMT to AMT.H. There is no change in the Company's name, no change in its CUSIP number and no consolidation of capital. The symbol extension differentiates NEX symbols from Tier 1 or Tier 2 symbols within the TSXV.
NEX is a separate board of the TSXV for companies previously listed on TSXV or Toronto Stock Exchange which have failed to maintain compliance with the ongoing financial listing standards of those markets. NEX has been designed to provide a forum for the trading of publicly listed shell companies while they seek and undertake transactions in furtherance of their reactivation as companies which will carry on an active business.
About Amato Exploration Ltd.
Amato Exploration Ltd. is a North American exploration company based in Toronto, ON, Canada. We are currently focused on exploring for precious metals in North America.
This news release contains forward-looking statements which reflect management's current expectations regarding the
Company's objectives, plans, goals, strategies, future growth, results of operations, performance and business prospects and opportunities. These forward-looking statements are not guarantees, but only predictions. Although the Company believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a number of factors that could cause actual results to vary significantly from current expectations. These factors and other risks and uncertainties are discussed in the Company's materials filed with the Canadian securities regulatory authorities from time to time, as identified in the Company's disclosure record on www.sedar.com. The forward-looking statements included in this news release are made only as of the date of this news release and the Company does not undertake to publicly update these forward-looking statements to reflect new information, future events or otherwise, except as required by law.
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.
SOURCE Amato Exploration Ltd.
For further information: For more information, please contact: Kieran Prashad, President & CEO of Amato Exploration Ltd. at +1 (647) 478-9361.