Palladon Ventures Ltd.-Revocation of Cease Trade Order
August 27 2009 - 2:28PM
Marketwired
Palladon Ventures Ltd. ("Palladon" or the "Company") (TSX VENTURE:
PLL)(FRANKFURT: PV-1) is pleased to announce that the British
Columbia Securities Commission (the "Commission") has granted a
full revocation (the "Revocation") of the cease trade order issued
by the Commission against the Company (the "CTO").
The CTO had been imposed by the Commission in respect of
deficiencies in the Company's August 31, 2008 and November 30, 2008
interim financial statements, management's discussion and analysis
and failure to file a business acquisition report. The Company
filed its amended and restated financial statements for the interim
periods ending May 31, 2008, August 31, 2008 and November 30, 2008,
their accompanying amended and restated Management, Discussion and
Analysis and business acquisition report. All of the Company's
continuous disclosure documents can be reviewed on SEDAR.
The Company anticipates having its shares reinstated for trading
on the TSX Venture Exchange in the near future. Management will
provide a further update once it has determined the date trading of
the Company's shares will commence.
On Behalf of the Board of Directors,
John W. Cutler, President & Chief Executive Officer
About Palladon
Palladon Ventures Ltd. is a junior resource company focused on
advancing the Comstock/Mountain Lion iron mine in Iron County,
Utah. Palladon also holds gold exploration projects in Nevada and
Utah.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking
statements, which reflect the expectations of management regarding
the Company. Forward-looking statements consist of statements that
are not purely historical, including any statements regarding
beliefs, plans, expectations or intentions regarding the future.
Such statements are subject to risks and uncertainties that may
cause actual results, performance or developments to differ
materially from those contained in the statements. No assurance can
be given that any of the events anticipated by the forward-looking
statements will occur or, if they do occur, what benefits the
Company will obtain from them. These forward-looking statements
reflect management's current views and are based on certain
expectations, estimates and assumptions which may prove to be
incorrect. A number of risks and uncertainties could cause our
actual results to differ materially from those expressed or implied
by the forward-looking statements, including: (1) a downturn in
general economic conditions in North America and internationally,
(2) the inherent uncertainties and speculative nature associated
with mineral exploration and production, (3) a decreased demand for
minerals, (4) any number of events or causes which may delay or
cease exploration and development of the Company's property
interests, such as environmental liabilities, weather, mechanical
failures, safety concerns and labour problems; (5) the risk that
the Company does not execute its business plan, (6) inability to
retain key employees, (7) inability to finance operations and
growth, (8) other factors beyond the Company's control and (9) the
risk that the Company will not be able to raise funds due to Luxor
Capital Group. These forward-looking statements are made as of the
date of this news release and, except as required by law, the
Company assumes no obligation to update these forward-looking
statements, or to update the reasons why actual results differed
from those projected in the forward-looking statements.
Neither 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 release.
Contacts: Palladon Ventures Ltd. John W. Cutler President &
CEO 801.521.5252 801.521.5454 (FAX) info@palladonventures.com
www.palladonventures.com; www.ironbullmining.com