VANCOUVER, June 17 /CNW/ - International KRL Resources Corp. (TSX-V:IRK)
today announced that it has filed a Form 15F with the United States Securities
and Exchange Commission (the "SEC") to voluntarily terminate its reporting
obligations under the United States Securities Exchange Act of 1934, as
amended. International KRL expects the termination to take effect no later
than ninety days after filing the Form 15F. As a result of the filing of the
Form 15F, International KRL will immediately cease to file certain reports,
including Form 20-F and Form 6-K, with the SEC.
The Company's administrative burdens and costs associated with being a
U.S. reporting company, particularly with respect to the SEC Sarbanes-Oxley
requirements, have increased materially in the past few years. International
KRL maintains these burdens and costs outweigh any benefits derived from the
Company's foreign issuer status with the SEC, particularly as the great
majority of International KRL shareholder base is Canadian.
As a TSX Venture Exchange listed reporting issuer, International KRL will
continue to meet its Canadian continuous disclosure obligations through
filings with the applicable Canadian securities regulators. The Company's
filings can be found on the System for Electronic Document Analysis and
Retrieval ("SEDAR") at www.sedar.com. For more information on the property
portfolio and International KRL Resources Corp. please visit the Company's
website - www.krl.net.
ON BEHALF OF THE BOARD
President and CEO
Statements contained in this news release that are not historical facts
are forward-looking statements, which are subject to a number of known and
unknown risks, uncertainness and other factors that may cause the actual
results to differ materially from those anticipated in our forward looking
statements. Although we believe that the expectations in our forward looking
statements are reasonable, actual results may vary, and we cannot guarantee
future results, levels of activity, performance or achievements.
The TSX Venture Exchange has neither approved nor disapproved the
information contained herein.
For further information:
For further information: Earl Hope, Investor Relations, (604) 689-0299
x232; Seamus Young, President and CEO, (604) 689-0299 x223