TORONTO, Jan. 30, 2018 /CNW/ - Cerro Grande Mining Corporation (the "Company" or "CEG") (CSE:CEG) (OTCQB:CEGMF) reported today that it has been issued a Cease Trade Order (CTO) by the Ontario Securities Commission for failure to file its:
- Annual financial statements for the year ended September 30, 2017;
- Management's discussion and analysis relating to the annual financial statements for the year ended September 30, 2017; and
- Certification of the foregoing filings as required by the National Instrument 52-109 Certification of Disclosure in Issuer's Annual and Interim Filings.
If the default is remedied within 90 days of the date of the CTO, including any annual or interim financial statements, MD&A and certifications that subsequently became due, the filing of the documents constitutes the application to revoke the CTO and no application fee is required under Appendix C of OSC Rule 13-502 Fees, except for late document fees in accordance with Appendix D of OSC Rule 13-502.
The Company expects that it will complete the filing of its year ended September 30, 2017 Financial Statements and its MD&A for the year ended September 30, 2017 and the filing as required by National Instrument 52-109 by the end of February, 2018 or within the 90 days of the CTO.
Cerro Grande Mining Corporation is a minerals exploration and development company with properties and activities currently focused in Chile.
Cautionary Statement on Forward-looking Information:
This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to the future financial or operating performance of CEG. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of CEG to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release based on current expectations and beliefs and CEG disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
SOURCE Cerro Grande Mining Corporation
For further information: Stephen W. Houghton, CEO, David R. S. Thomson, EVP, E-Mail: [email protected], Telephone: 56-2-2569 6224, Website: www.cegmining.com