Trading Symbol: ADA: TSX; ADAIF: OTCQX
HALIFAX, Oct. 19, 2012 /CNW/ - Acadian Mining Corporation ("Acadian" or the "Company") announces that the Toronto Stock Exchange (the "TSX") notified the Company that it has determined to delist the Company's common shares from the TSX at the close of market on November 29, 2012 for failure to meet the continued listing requirements of the TSX.
After careful consideration, Acadian concluded it was in the best interest of the Company and its shareholders to pursue a listing on the TSX Venture Exchange (the "TSXV") to ensure, subject to the TSXV approval, continued and seamless trading liquidity for the Company's shareholders. As a result, Acadian has filed an application with the TSXV under the streamlined listing procedure for listing as a Tier 2 issuer. Management is currently working on completing the necessary filings to obtain the TSXV conditional listing approval prior to the delisting of its common shares from the TSX.
The Company's common shares will continue to trade in the United States on the over the counter market under the symbol "ADAIF".
The Company will provide updates in the following weeks.
Forward Looking Statements
Certain information regarding Acadian contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance, or other statements that are not statements of fact. Although Acadian believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Acadian cautions that actual performance will be affected by a number of factors, many of which are beyond Acadian's control, and that future events and results may vary substantially from what Acadian currently foresees. Discussion of the various factors that may affect future results is contained in Acadian's Annual Information Form dated March 29, 2012, which is available at www.SEDAR.com. Acadian's forward looking statements are expressly qualified in their entirety by this cautionary statement.
About the Corporation
Acadian is a Halifax, Nova Scotia, Canada based company with five advanced gold projects, all of which host National Instrument 43-101 compliant resources. The Corporation also owns barite properties on Cape Breton Island, Nova Scotia. Acadian's primary focus is centered on exploration and development of its core gold deposits in Atlantic Canada, namely the Fifteen Mile Stream and Beaver Dam Projects.
For additional information on Acadian's properties and activities, please visit our web site at: www.acadianmining.com.
No regulatory authority has approved or disapproved the contents of this news release.
SOURCE: ACADIAN MINING CORPORATION
For further information:
Grant Ewing, President and Chief Executive Officer
(902) 444-7779 Toll Free: (877) 444-7774
Halifax, Nova Scotia