GOLDEN, Colo., May 9, 2016 /CNW/ -- Atna Resources Ltd. ("Atna" or the "Company") -- As reported in the Company's January 18, 2016 news release, as a consequence of the Company's financial circumstances, including its November 18, 2015 filing of a voluntary petition for relief under Chapter 11 of Title 11 of the United States Code, on December 29, 2015, the Toronto Stock Exchange (the "Exchange") delisted the Company's shares. As a further result of the Company's circumstances, the Company was unable to release its financial statements, management's discussion and analysis or its Form 20-F (Annual Information Form) for the year ended December 31, 2015, Since that time the Company has failed to file its required annual continuous disclosure documents required by applicable securities laws, as of May 5, 2016, the British Columbia Securities Commission has added the Company to its Reporting Issuers in Default List and has imposed a management cease trade order prohibiting the Company's directors and officers from trading in securities of the Company. As the Company has no present expectation that it will ever be in a position to remedy its failure to make its annual continuous disclosure filings, the Company expects that the BC Securities Commission, together with the Commissions in the other Canadian jurisdictions where the Company is a reporting issuer, will proceed, within the next week, to issue a cease trade order prohibiting trading in the Company's shares generally.
Additional information regarding the Company's Chapter 11 restructuring, and ancillary proceedings in Canada pursuant to the Companies' Creditors Arrangement Act in the Supreme Court of British Columbia in Vancouver, Canada, can be found at www.upshotservices.com/atna.
FOR FURTHER INFORMATION, CONTACT:
James Hesketh, President and CEO - (303) 278-8464
Valerie Kimball, Investor Relations - toll free (877) 692-8182
This press release contains forward-looking statements about the Company and its business. Forward-looking statements are statements that are not historical facts and include, but are not limited to, statements regarding the vesting of the inducement options: "may", "should", "plan", "believe", "predict", "expect", "anticipate", "intend", "estimate", "postulate", "target" and similar expressions or the negative of such expressions or which by their nature refer to future events. The forward-looking statements in this press release are subject to various risks, uncertainties and other factors that could cause the Company's actual results or achievements to differ materially from those expressed in or implied by forward looking statements. Other risks, uncertainties and factors include, without limitation, risks related to the Company's plans to have its securities listed on a new securities exchange, and to identify and carry out restructuring plans that will successfully maximize the value of its mining assets for the benefit of Atna stakeholders, the timing and completion of the Company's intended work plans, potential delay of material deliveries, ability to meet debt covenants and obligations, risks related to fluctuations in gold prices; uncertainties related to raising financing in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold resources and reserves; ability to meet loan and financing covenants in the future; the possibility that required permits may not be obtained in a timely manner or at all; the possibility that capital and operating costs may be higher than currently estimated and may preclude commercial development or render operations uneconomic; the possibility that the estimated recovery rates may not be achieved; risk of accidents, equipment breakdowns and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; changes in interest and currency exchanges rates; local and community impacts and issues; environmental costs and risks; and other factors identified in the Company's SEC filings and its filings with Canadian securities regulatory authorities. Forward-looking statements are based on the beliefs, opinions and expectations of the Company's management at the time they are made, and other than as required by applicable securities laws, the Company does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances, should change. Although the Company believes that such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. For the reasons set forth above, investors should not attribute undue certainty to or place undue reliance on forward-looking statements.
SOURCE Atna Resources Ltd.