VANCOUVER, Dec. 4 /CNW/ - Energem Resources Inc ("Energem" or "the
Company") has been advised after consultation with the Toronto Stock Exchange
("TSX") that it no longer meets the requirements for listing as a mining
company, the Company's current TSX listing status. The TSX have placed Energem
under a 120 day remedial review process during which period Energem will be
required to demonstrate to the TSX that it continues to qualify for listing
under other criteria, which the Company expects to be able to satisfy. The
Company's shares will continue to trade on the TSX during this review period.
Details of this potential review were set out in the Company's AIM market
("AIM") admission document. The listing of the Company shares on AIM is
unaffected by this development.
This news release contains forward-looking statements which address
future events and conditions which are subject to various risks and
uncertainties. The actual results could differ materially from those
anticipated in such forward-looking statements as a result of numerous
factors, some of which may be beyond the Company's control. These factors
include: the availability of funds; the costs and availability of product;
fluctuations in fuel product sale prices; currency fluctuations; changes in
production costs; fluctuation in shipping costs; availability of shipping;
general market and industry conditions; political and regulatory instability
and risks associated with rights to title and ownership of assets.
Forward-looking statements are based on the expectations and opinions of
the Company's management on the date the statements are made. The assumptions
used in the preparation of such statements, although considered reasonable at
the time of preparation, may prove to be imprecise and, as such, undue
reliance should not be placed on forward-looking statements.
Energem Resources Inc. (TSX/AIM:ENM) is an Africa focussed company listed
on the Toronto Stock Exchange and on the London Stock Exchange's AIM market
and the holding company of a group of companies engaged in, mainly, several
African countries in the bio-fuels, oil and related sectors including
logistics and supply to the mining industry in South and Central Africa and
development of an up-stream oil exploration asset. The Company has offices
and/or logistics and support infrastructure in Johannesburg, London, Beijing
and a number of African countries.
For further information:
For further information: Rob Rainey in Johannesburg at telephone +27 11
372-3300, Fax +27 11 454-1673 or email: email@example.com; Refer to our
website: www.energem.com; Canaccord Adams Limited - Chris Bowman, Andrew
Chubb, +44 207 050 6500; Smithfield Consultants - Reg Hoare, +44 207 360 4900