TORONTO, April 27, 2015 /CNW/ - Viking Gold Exploration Inc. (TSXV:VGC) ("Viking" or the "Company") announced today that its audited financial statements, CEO and CFO certifications, and management discussion & analysis (the "Annual Filings") for the year ended December 31, 2014 will not be released as scheduled on April 30, 2015. It is now anticipated that the release will occur no later than May 31, 2015.
The Company has been late in the preparation of the Annual Filings for financial reasons. The Company is in the process of completing a financing, and will have sufficient financial resources to complete the audit. The Company anticipates being able to file the Annual Filings on or before May 31, 2015.
As a result of the delay, the Company has voluntarily requested that the Securities Commissions in Ontario, British Columbia, Alberta and Newfoundland to issue a temporary order that prohibits certain current directors, officers and insiders of Viking from trading in securities of Viking for so long as the Annual Filings are not filed. The issuance of such management cease trade order generally does not affect the ability of persons who have not been directors, officers or insiders of the issuer to trade in their securities. Viking intends to provide updates in accordance with National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults with respect to further developments in respect of this matter promptly following their occurrence, including the issuance of bi-weekly status update reports until such time as Annual Filings are completed.
The Company advises that Mr. Lon Vining has resigned as CFO and Mr. Mark Edwards CPA,CA will take over as acting CFO immediately.
Forward-Looking Statements: The above contains forward-looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.
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 press release.
SOURCE Viking Gold Exploration Inc.
For further information: please contact Mark Edwards, CEO at (905) 752-2008 or visit the Company's website at: www.vikinggold.ca