TORONTO, June 1, 2015 /CNW/ - Viking Gold Exploration Inc. (TSXV:VGC) ("Viking" or the "Company") announced today that that further to its news release on April 27, 2015 (the "Default Announcement"), the Ontario Securities Commission issued a temporary management cease trade order on May 12, 2015 and a permanent management cease trade order on May 25, 2015 (the "MCTO") for failure to file its audited financial statements, CEO and CFO certifications, and management discussion & analysis (the "Annual Filings") for the year ended December 31, 2014 by April 30, 2015. The MCTO prohibits all trading by certain insiders of Viking in securities of the Company until the order is revoked. The Company is required to provide bi-weekly status updates in accordance with National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults until the MCTO has been revoked of a full cease trade order issued.
The Company continues its efforts to raise the monies required to complete its audit of the year end financial statements. The Company is also working on a transaction that should generate sufficient cash flow for Viking.
Forward-Looking Statements: The above contains forward-looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.
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 release.
SOURCE Viking Gold Exploration Inc.
For further information: please contact Mark Edwards, CEO at (905) 752-2008 or visit the Company's website at: www.vikinggold.ca