BEIJING, April 22, 2013 /PRNewswire-FirstCall/ -- China
Shen Zhou Mining & Resources, Inc. (NYSE Amex: SHZ), today
announced that on April 17, 2013,
China Shen Zhou Mining & Resources, Inc. (the "Company")
received a letter (the "Letter") from the NYSE MKT LLC (the
"Exchange") advising that the Company was no longer in compliance
with Sections 134 and 1101 of the Exchange's Company Guide (the
"Company Guide") due to the Company's inability to timely file its
annual report on Form 10-K for the fiscal year ended December 31, 2012 (the "Form 10-K"). In addition,
the Company is also in material violation of its listing agreement
with the Exchange for not timely filing the Form 10-K, and as such
the Exchange is authorized (pursuant to Section 1003(d) of the
Company Guide) to suspend, and unless prompt corrective action is
taken, remove the Company's securities from the Exchange.
The Company is afforded the opportunity to submit a plan of
compliance to the Exchange by May 1,
2013 that demonstrates the Company's ability to regain
compliance with Sections 134 and 1101 of the Company Guide by
July 16, 2013. If the Company does
not submit a plan of compliance, if the plan is not accepted by the
Exchange, or if the Company does not make progress consistent with
the plan if it is accepted, the Company will be subject to
delisting procedures as set forth in the Company Guide.
The Company has indicated its intention to submit a plan to the
Exchange on or before May 1, 2013 and
believes it can provide the Exchange with a satisfactory plan to
show that it will be able to return to compliance with Sections 134
and 1101 of the Company Guide.
About China Shen Zhou Mining & Resources, Inc.
China Shen Zhou Mining & Resources, Inc., through its
subsidiaries, is engaged in the exploration, development, mining,
and processing of fluorite and nonferrous metals such as zinc,
lead, and copper in China. The
Company has the following principal areas of interest in
China: (a) fluorite extraction and
processing in the Sumochaganaobao region of Inner Mongolia; (b)
fluorite extraction and processing in Jingde County, Anhui Province; (c) zinc/copper/lead
processing in Wulatehouqi of Inner Mongolia; and (d) zinc/copper
exploration, mining, and processing in Xinjiang.
For more information, please visit
http://www.chinaszmg.com/.
Safe Harbor Statement
This press release may include certain statements that are not
descriptions of historical facts, but are forward-looking
statements. Forward-looking statements can be identified by the use
of forward-looking terminology such as "will," "believes,"
"expects," or similar expressions. These forward-looking statements
may also include statements about our proposed discussions related
to our business or growth strategy, which is subject to change.
Such information is based upon expectations of our management that
were reasonable when made but may prove to be incorrect. All of
such assumptions are inherently subject to uncertainties and
contingencies beyond our control and upon assumptions with respect
to future business decisions, which are subject to change. We do
not undertake to update the forward-looking statements contained in
this press release. For a description of the risks and
uncertainties that may cause actual results to differ from the
forward-looking statements contained in this press release, see our
most recent Annual Report filed with the Securities and Exchange
Commission (SEC) on Form 10-K, and our subsequent SEC filings.
Copies of filings made with the SEC are available through the SEC's
electronic data gathering analysis retrieval system (EDGAR) at
http://www.sec.gov.
Contact Information
Ziming Li
Investor Relations
China Shen Zhou Mining & Resources, Inc
Tel: 86-10-88909976
Investors@chinaszky.com
SOURCE China Shen Zhou Mining & Resources, Inc.