Starfield Resources Inc. announces TSX delisting review
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TORONTO,
Jan. 29, 2013 /CNW/ - Starfield
Resources Inc. ("Starfield" or the "Company") (TSX:
SRU) today announced the Toronto Stock Exchange ("TSX") has
informed the Company that it is reviewing the eligibility for
continued listing of Starfield's common shares on the TSX.
The Company is being reviewed under the TSX's
Remedial Review Process and has been granted 60 days to comply with
all requirements for continued listing. If the Company is unable to
demonstrate on or before March 21,
2013 that it meets all TSX requirements for continued
listing, the Company's securities will be delisted 30 days from
such date.
At this time, Starfield intends to defend its
listing and is working with the TSX to address the deficiencies in
meeting ongoing listing requirements and will concurrently review
listing requirements on the TSX Venture Exchange or NEX.
The Company is also continuing its engagement
with PricewaterhouseCoopers Inc. ("PwC") to assist management and
the board of directors of Starfield in assessing its strategic
options. PwC has undertaken a global effort to showcase the
Company's mineral assets and solicit the interest of potential
buyers and/or investors. The deadline for submission of expressions
of interest to acquire the assets or complete an investment has
been extended to February 8,
2013. The contact at PwC, Clark Lonergan can be reached at 416-814-5835 or
clark.lonergan@ca.pwc.com.
About Starfield
Starfield Resources Inc. is an advanced
exploration and development stage company. The Company's primary
asset is its Ferguson Lake
nickel-copper-cobalt-platinum-palladium property in Nunavut, Canada. Additional assets include a
nickel-coppercobalt-PGE-chrome project in the Stillwater district of Montana with historic copper, nickel, chromite
resources (non 43-101 and not to be relied on) and the Superior
copper project in California with
two significant copper prospects, one of which has a historical
copper resource.
Forward-Looking Statements
This news release may contain certain
information that constitutes forward-looking statements including
delisting on the TSX, listing opportunities on the TSX Venture
Exchange or NEX and the outcome of the assessment of strategic
options. Forward-looking statements are based on the opinions and
estimates of management at the date the statements are made, and
are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ
materially from those projected in the forward-looking statements.
These factors include the ability to meet TSX listing requirements
within the specified time frame, success of completing any
strategic option, the inherent risks involved in the exploration
and development of mineral properties, the uncertainties involved
in interpreting drilling results and other geological data,
fluctuating metal prices and other factors described above and in
the Company's most recent annual information form under the heading
"Risk Factors" which has been filed electronically by means of the
Canadian Securities Administrators' website located at
www.sedar.com. The Company disclaims any obligation to update or
revise any forward-looking statements if circumstances or
management's estimates or opinions should change except where
required by law. The reader is cautioned not to place undue
reliance on forward-looking statements.
www.starfieldres.com
SOURCE Starfield Resources Inc.