Trading symbol (TSX-V): RML
VANCOUVER, May 21, 2013 /CNW/ - Rusoro Mining Ltd. (the "Company" or "Rusoro") announces that filing of its annual financial statements for the year
ended December 31, 2012 has been delayed, pending the issuance of an
unqualified opinion by the Company's auditors. As a result, the
Company understands that a cease trade order will be issued by the
British Columbia Securities Commission at the close of business on May
As a result of the nationalization of the Company's ongoing operations
and assets in Venezuela, the auditor was unable to obtain sufficient
verification of the Company's ongoing liabilities in Venezuela to issue
an unqualified opinion prior to the April 30, 2013 filing deadline.
The Company is presently working with the auditor to obtain
confirmations from the outstanding creditors of the Company's
Venezuelan subsidiaries following which the auditor anticipates being
able to issue an unqualified opinion.
Additional information regarding the nationalization of the Company's
assets in Venezuela and the Company's ongoing litigation involving the
Government of Venezuela is available on SEDAR and on the Company's
website at www.rusoro.com.
ON BEHALF OF THE BOARD
Andre Agapov, President & CEO
This document contains statements about expected or anticipated future
events and financial results that are forward-looking in nature and as
a result, are subject to certain risks and uncertainties, such as
general economic, market and business conditions, the regulatory
process and actions, technical issues, new legislation, competitive and
general economic factors and conditions, the uncertainties resulting
from potential delays or changes in plans, the occurrence of unexpected
events, and the Company's capability to execute and implement its
future plans. Actual results may differ materially from those projected
by management. For such statements, we claim the safe harbour for
forward-looking statements within the meaning of the Private Securities
Legislation Reform Act of 1995.
"Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release."
SOURCE: Rusoro Mining Ltd.
For further information:
Suite 3123 - 595 Burrard Street
Vancouver, BC V7X 1J1
Tel: 604-609-6110 / Fax: 604-609-6145