Angus Mining receives orders revoking Cease Trade Orders
September 21 2020 - 7:26AM
Angus Mining Inc. (the "Company") is very pleased to announce that
the securities regulators (the "Commissions") in the Provinces of
Ontario, British Columbia and Alberta have granted a full
revocation (the "Revocation") of the cease trade orders imposed by
each of them in 2015 against the securities of the Company. The
cease trade orders had been imposed by the Commissions for failure
by the Company to file its required filings by the filing deadline
as prescribed by applicable securities laws.
The Company applied in December 2019 to each of
the Commissions for a revocation of the cease trade orders. On
August 31, 2020, the Company filed, among other continuous
disclosure documents, annual audited financial statements and
related MD&A for the fiscal years ended December 31, 2019, 2018
and 2017 (the "Continuous Disclosure Documents"). Consistent with
the provisions of National Policy 12-202 Revocation of
Compliance-related Cease Trade Order, the Commissions exercised
their discretion to not require the Company to file the annual
financial reports and related MD&A for financial years ended
December 31 2014, 2015 and 2016, the interim reports for interim
periods ending on or before March 31, 2017 and all related CEO and
CFO certifications. As a condition of revoking the Ontario cease
trade order, the Company provided an undertaking to the Ontario
Securities Commission (“OSC”) that it will not complete any of the
following transactions without first filing and obtaining a receipt
for a final prospectus from the OSC: (a) a restructuring
transaction involving, directly or indirectly, an existing or
proposed, material underlying business which is not located in
Canada, (b) a reverse takeover with a reverse takeover acquirer
that has a direct or indirect, existing or proposed, material
underlying business which is not located in Canada, or (c) a
significant acquisition involving, directly or indirectly, an
existing or proposed, material underlying business which is not
located in Canada.
The Company intends to hold a meeting of
shareholders within 90 days of the date of the Revocation. Although
the Company has been largely inactive, following the Revocation,
the Company intends to reactivate itself.
The Corporation continues to move forward in
sourcing either debt or equity financing to acquire new assets
either in, or out of, the natural resources space to enhance
shareholder value.
The Continuous Disclosure Materials can be
accessed on SEDAR under the Company's profile at www.sedar.com.
Cautionary Note Regarding Forward-Looking
Statements
Certain of the statements made and information
contained herein is "Forward-looking information" within the
meaning of applicable securities laws, including statements
concerning our plans, future financings and operations, which
involve known and unknown risks, uncertainties, and other factors
which may cause the actual results, performance or achievements of
the Company, or industry results, to be materially different from
any future results, performance or achievements expressed or
implied by such forward-looking information. Forward-looking
information is subject to a variety of risks and uncertainties that
could cause actual events or results to differ from those reflected
in the forward-looking information, including, without limitation,
changes in national and local government legislation or regulations
regarding environmental factors, taxation or foreign investment;
political or economic instability; terrorism; inflation; changes in
currency exchange rates; fluctuations in commodity prices; delays
in the development of projects; shortage of personnel with the
requisite knowledge and skills; dependency on equity market
financings to fund operations; and other risks and uncertainties,
including those described in each management's discussion and
analysis released by the Company. In addition, forward-looking
information is based on various assumptions. Should one or more of
these risks and uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those described in forward-looking statements. Accordingly,
readers are advised not to place undue reliance on forward-looking
statements, which speak only as of the date they are made. Except
as required under applicable securities legislation, the Company
undertakes no obligation to publicly update or revise
forward-looking information, whether as a result of new
information, future events or otherwise.
For Further Information:
Fraser BuchanChief Executive OfficerTelephone:
(416) 473-4099