VANCOUVER, Feb. 6, 2019 /CNW/ - Tajiri Resources Corp. (the "Company") (TSX VENTURE: TAJ) announces that it has received approval from the TSX Venture Exchange ("TSXV") to recommence trading effective February 8, 2019.
On October 2nd, 2018, the British Columbia Securities Commission (the "BCSC") issued a cease trade order (the "CTO") against the Company for failure to file certain continuous disclosure documents. Subsequently, on October 3rd, 2018 the TSXV Suspended trading of the Company's shares. The Company is pleased to report that the CTO was revoked by the BCSC on December 20th, 2018, upon the Company having filed all outstanding documents.
Since that time the Company has been working with the TSXV to reinstate trading of the Company's shares. As noted by the TSXV, the Company is deficient in the following matters:
- The Company's board of directors does not meet the independence criteria as set out in TSXV Policy 3.1, section 5.7 in that the Company has only one independent director;
- The Company's audit committee does not meet the minimum requirements of 3 directors and independence criteria as set out in TSXV Policy 3.1, section 21 (b) in that the Company has only 2 directors, one which is independent; and
- The Company has not held an AGM since September 8, 2017, and so is not in compliance with TSXV Policy 3.2, section 4.1, which requires an AGM be held at least every 15 months and at least once every calendar year.
To rectify the above matters, the Company has scheduled its next AGM for March 11, 2019; at which time, it will nominate at least one additional independent director.
On Behalf of the Board,
Tajiri Resources Corp.
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.
This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements.
SOURCE Tajiri Resources Corp.
For further information: Tajiri Resources Corp., Graham Keevil, President, CEO, 604-642-0115 or Toll Free 866-345-0115, 604-642-0116 (FAX), [email protected]