TORONTO,
June 2, 2014 /CNW/ - Red
Tiger Mining Inc., (TSXV: RMN), (the "Company" or "Red Tiger")
is providing this bi-weekly update on its Financial Statement
Status in accordance with National Policy 12-203 – Cease Trade
Orders for Continuous Disclosure Defaults ("NP 12-203"). On
April 24, 2014, the Company announced
that for reasons disclosed in the news release, there would be a
delay in the filing of its audited financial statements for the
year ended December 31, 2013 and its
related Management Discussion & Analysis and CEO and CFO
certifications (collectively, the "Required Filings") beyond the
120 day period prescribed for the filing of such documents.
As a result of this delay in filing, on
May 2, 2014, the Ontario Securities
Commission (the "OSC"), the principal regulator of the Company,
issued a management cease trade order ("MCTO"). The MCTO imposes
restrictions on trading in the Company's securities by its Chief
Executive Officer and Chief Financial Officer until the Company
files the required filings, and the OSC makes an order revoking it.
All other parties are permitted to freely trade the Company's
securities.
Further to its press release on May 16, 2014, the Company continues to work with
its auditors and the third party reporting on the inventory
balances to complete the audit of the Company's consolidated
financial statements for the year ended December 31, 2013 as soon as possible.
Due to the delay in filing the Required Filings
for December 31, 2013, the Company's
March 31, 2014 interim filings will
also be delayed as the audited accounts need to be completed before
the interim accounts can be prepared.
The Company reports that, since the issuance of
the press release on May 16, 2014,
the previous anticipated filing of the Required Filings by end of
May, 2014 could not be met. The Company now anticipates filing the
Required Filings by the end of June, 2014. In addition, there has
not been any specified default by the Company under NP 12-203 other
than the delay in filing the Required Filings, and there is no
other material information concerning the affairs of the Company
that has not been generally disclosed.
The Company also announces that effective
June 1, 2014, the location of Head
Office has been moved to the following address: 320 Bay Street,
Suite 1520, Toronto, ON, M5H
4A6.
Red Tiger is
listed on the TSX Venture Exchange (symbol "RMN"). The number of
shares outstanding is 101,318,776.
Neither the 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.
Forward-Looking Information
This press release contains certain
"forward-looking information". All statements, other than
statements of historical fact, that address activities, events or
developments that the Company believes, expects or anticipates will
or may occur in the future (including, without limitation,
statements relating to the anticipated date for filing of its
financial statements, MD&A and Certifications and the Company's
intentions to comply with the Alternative Information Guidelines of
NP 12-203) constitute forward-looking information. This
forward-looking information reflects the current expectations or
beliefs of the Company based on information currently available to
the Company as well as certain assumptions including, without
limitation, the assumption that the Company will be granted an
order imposing a management cease trade order and the assumption
that the Company will complete its audit in a timely manner.
Forward-looking information is subject to a number of significant
risks and uncertainties and other factors that may cause the actual
results of the Company to differ materially from those discussed in
the forward-looking information, and even if such actual results
are realized or substantially realized, there can be no assurance
that they will have the expected consequences to, or effects on the
Company. Factors that could cause actual results or events to
differ materially from current expectations include, but are not
limited to, the failure of the Company to complee its audit in a
timely manner.
Any forward-looking information speaks only as
of the date on which it is made and, except as may be required by
applicable securities laws, the Company disclaims any intent or
obligation to update any forward-looking information, whether as a
result of new information, future events or results or otherwise.
Although the Company believes that the assumptions inherent in the
forward-looking information are reasonable, forward-looking
information is not a guarantee of future performance and
accordingly undue reliance should not be put on such information
due to the inherent uncertainty therein.
SOURCE Red Tiger Mining Inc.