Orko Silver Corp. Announces Intention to Terminate Securities and Exchange Commission Reporting Obligations in the United States
April 02 2009 - 2:57PM
Marketwired
Orko Silver Corp. - (the "Company" or "Orko") (TSX VENTURE: OK)
announces that it intends to file a Form 15F with the U.S.
Securities and Exchange Commission (the "SEC") with the intention
of voluntarily terminating the registration of its common shares
under Section 12(g) of the Securities Exchange Act of 1934, as
amended (the "Exchange Act"). The Company expects that its
termination of registration will be accepted by the SEC on or
before 90 days after the date hereof. As a result of this filing,
Orko's reporting obligations with the SEC, including its
obligations to file annual reports on Form 20-F, and reports on
Form 6-K, will immediately be suspended.
Orko will continue to comply with its Canadian continuous
disclosure obligations by making filings with applicable Canadian
securities regulators via the System for Electronic Document
Analysis and Retrieval (SEDAR) at www.sedar.com. These continuous
disclosure filings will include the Company's consolidated
financial statements prepared in accordance with Canadian generally
accepted accounting principles and other financial related
information. Orko's common shares will continue to trade in Canada
on the TSX Venture Exchange (the "TSX-V") under the symbol
"OK".
Orko is current with all of its reporting requirements under the
Exchange Act and is not listed on any U.S. exchange. Orko will be
classified under SEC guidelines as an "Accelerated Filer" for the
fiscal year ended October 31, 2008. As an Accelerated Filer, Orko
would be required to obtain an auditor attestation report on the
internal controls of the Company. Due to the substantial cost
related to the auditor attestation report in relation to the
Company's size, Orko has decided to terminate its reporting
obligations before the attestation report comes due.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary Cope, President
This News Release may contain forward-looking statements
including but not limited to comments regarding the timing and
content of upcoming work programs, geological interpretations,
receipt of property titles, potential mineral recovery processes,
etc. Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties.
Actual results may differ materially from those currently
anticipated in such statements. Orko relies upon litigation
protection for forward-looking statements.
Cautionary Note to U.S. Investors - The United States Securities
and Exchange Commission permits U.S. Mining companies, in their
filings with the SEC, to disclose only those mineral deposits that
a company can economically and legally extract or produce. We use
certain terms in this press release, such as "measured",
"indicated", and "inferred" resources, which the SEC guidelines
strictly prohibit U.S. registered companies from including in their
filings with the SEC. U.S. Investors are urged to consider closely
the disclosure in our Form 20-F, File No. 000-51923, which may be
secured from us, or from the SEC's website at
http://www.sec.gov/edgar.shtml.
Contacts: Orko Silver Corp. Gary Cope President (604) 684-4691
(604) 684-4601 (FAX) Email: info@orkosilver.com Website:
www.orkosilver.com
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