TORONTO, July 17, 2013 /CNW/ - (TSXV:GMN) GobiMin Inc. ("GobiMin" or the "Company") would like to provide an update on the status further to the cease trade orders issued on May 1, 2013 against GobiMin as a result of its failure to file in time its audited financial statements, annual management's discussion and analysis, and certification of annual filings for the fiscal year ended December 31, 2012 before the deadline of April 30, 2013. These 2012 annual disclosure documents were filed on SEDAR on May 16, 2013 and the Company has on the same day applied to Alberta Securities Commission ("ASC") for a full revocation of the cease trade orders. Thereafter, the Company has been closely following up with ASC on the progress of revocation. The Company will issue another press release once obtained the revocation which is still pending ASC approval.
The Company would also like to confirm that the cease trade order and the delay in the release of the 2012 Annual Disclosure Documents were not related to and have no impact on the financial situation of the Company.
GobiMin owns a 70% equity interest in Xinjiang Tongyuan Minerals Ltd. for the development of the Sawayaerdun Gold Project in Xinjiang, China. GobiMin also owns indirectly a 40% to 50% interest each in four other exploration companies in Xinjiang and a residual 8% equity interest in the Yanxi Copper Project. In addition, the Company also holds a 48.02% equity interest in a silver operation.
GobiMin is aggressively seeking opportunities to acquire high quality mining and exploration projects.
Certain statements contained in this press release constitute forward-looking information. Such statements are based on the current expectations of management of GobiMin. The readers are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause actual results, future circumstances or events to differ materially from those projected in the forward-looking information. Forward looking information includes without limitation, statements regarding the size and quality of the Company's mineral resources, progress in development of mineral properties, the prospective mineralization of the properties, and planned exploration programs. The readers should not place undue reliance on the forward-looking information included in this press release given that (i) actual results could differ materially from a conclusion, forecast or projection in the forward-looking information, and (ii) certain material factors or assumptions were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking information could prove to be inaccurate. These statements speak only as of the date they are made, and GobiMin assumes no obligation to revise such statements as a result of any event, circumstance or otherwise, except in accordance with law.
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SOURCE: GobiMin Inc.
For further information:
Felipe Tan, Chief Executive Officer
Tel: (852) 3586-6500