Update on financial statements filing status and suspension of trading on AIM



    
                           ENERGEM RE

SOURCES INC. (Energem or the "Company") AIM: ENM VANCOUVER, Aug. 6 /CNW/ - Further to the Company's press release of July 16, 2009, Energem reports that the funds expected from the related party debtors detailed in that release (the "Related Parties") were not received by the end of July 2009. Based on information received from the Related Parties and the underlying financial institution providing facilities to them from which the debt to Energem will be settled, the necessary facilities have been approved, but due to an administrative procedural delay at the financial institution, the facility is expected to become available on or before August 14, 2009. Accordingly, the Company anticipates that funds will flow to the Company by August 19, 2009, following which the Company expects to be in a position to finalise its report and accounts shortly thereafter. Cautionary Note Regarding Forward-Looking Information This news release contains forward-looking statements and information. Such forward-looking statements and information include, but are not limited to, statements regarding Energem's ability to recover the Related Party Debt and the timing of completion of the audit on its financial statements for the 2008 fiscal year. The Company does not intend to, and does not assume any obligation to, update such forward-looking statements or information, other than as required by applicable law. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Energem and its operations to be materially different from those expressed or implied by such statements. Such factors include, among others, those that are not within the control of Energem, such as the ability of the Related Parties to secure required financing and to satisfy the funding conditions of their lenders, assumptions that such financing, once obtained, will be used by the Related Parties to repay amounts owing to Energem, and assumptions that the audit will be successfully concluded once the Related Party Debt is repaid. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information. %SEDAR: 00002462E

For further information:

For further information: Energem - Rob Rainey in Johannesburg at
telephone +27 11 372 3300, Fax +27 11 454 1673 or email: info@energem.com;
Refer to our website: www.energem.com; Canaccord Adams Limited, Robert
Finlay/Andrew Chubb, +44 207 050 6500; Smithfield, Reg Hoare/Will Henderson,
+44 207 360 4900

Organization Profile

ENERGEM RESOURCES INC.

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