|By Marketwired .||
|June 2, 2014 11:20 AM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 06/02/14 -- Carpathian Gold Inc. (TSX:CPN) (the "Corporation" or "Carpathian") is providing this fourth bi-weekly default status report in accordance with National Policy 12-203 respecting Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203"). On March 14, 2014, the Corporation announced (the "Default Announcement") that, for the reasons set out in the Default Announcement, the filing of the Corporation's audited annual financial statements, related management's discussion and analysis and accompanying CEO and CFO certifications for the financial year ended December 31, 2013 (collectively, the "Required Filings") would not be completed by the prescribed period for the filing of such documents under Parts 4 and 5 of National Instrument 51-102 respecting Continuous Disclosure Obligations and pursuant to National Instrument 52-109 respecting Certification of Disclosure in Issuer's Annual and Interim Filings, namely within 90 days of the year-end, being March 31, 2014.
As a result of this delay in the filing of the Required Filings, the Ontario Securities Commission (the "OSC") issued a management cease trade order (the "MCTO") on April 16, 2014 against the Corporation's Chief Executive Officer and Chief Financial Officer, as opposed to a general cease trade order against the Corporation. The MCTO prohibits all trading in securities of the Corporation, whether directly or indirectly, by the Corporation's Chief Executive Officer and Chief Financial Officer until two full business days following receipt by the OSC of the Required Filings. The MCTO does not affect the ability of shareholders who are not insiders of the Corporation to trade their securities. However, the applicable Canadian securities regulatory authorities could determine, in their discretion, that it would be appropriate to issue a general cease trade order against the Corporation affecting all of the securities of the Corporation.
The Corporation was granted an extension to its original MCTO expiring on May 30, 2014, which will remain in place until June 23, 2014. Carpathian's Board of Directors and management confirm that they are working expeditiously to meet the Corporation's obligations relating to the filing of the Required Filings no later than June 23, 2014. In addition, Carpathian is completing its interim financial statements, related management's discussion and analysis and accompanying CEO and CFO certifications for the three months ended March 31, 2014 (collectively, the "Interim Filings"). The Corporation anticipates filing the Interim Filings on SEDAR no later than June 23, 2014.
Pursuant to the provisions of the alternative information guidelines specified in Section 4.4 of NP 12-203, the Corporation reports that since the Default Announcement:
-- There have been no material changes to the information contained in the Default Announcement; -- There have been no failures by the Corporation to fulfil its stated intentions with respect to satisfying the provisions of the alternative reporting guidelines; -- There has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the Default Announcement; and -- There is no other material information respecting the Corporation's affairs that has not been generally disclosed.
Until the Required Filings have been filed, the Corporation intends to continue to satisfy the provisions of the alternative information guidelines specified in Section 4.4 of NP 12-203 by issuing bi-weekly default status reports in the form of further press releases, which will also be filed on SEDAR. Once the Required Filings have been filed, the Corporation will no longer be issuing any further bi-weekly default status reports under Section 4.4 of NP 12-203.
Should Carpathian fail to file the Required Filings by June 23, 2014 or fail to provide bi-weekly status reports in accordance with NP 12-203, the OSC can impose a cease trade order on Carpathian, such that all trading in securities of the Corporation cease for such period as the OSC may deem appropriate.
Carpathian is an exploration and development company whose primary business interest is developing near-term gold production at its 100% owned Riacho dos Machados Gold Project in Brazil. In addition, it is also focussed on advancing its exploration and development plans on its 100% owned Rovina Valley Au-Cu Project located in Romania.
Certain statements contained in this press release constitute "forward-looking statements". These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this press release contains forward-looking statements relating to the audit and filing of the audited annual financial statements, related management's discussion and analysis, and accompanying CEO and CFO certifications for the year ended December 31, 2013, as well as the filing of the interim financial statements, related management's discussion and analysis, and accompanying CEO and CFO certifications for the three months ended March 31, 2014. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Those assumptions and factors are based on information currently available to the Corporation. The material factors and assumptions with respect to the audited annual financial statements, related management's discussion and analysis, and accompanying CEO and CFO certifications for the year ended December 31, 2013 include the auditors not encountering anything out of the ordinary that would cause the auditors not to be able to complete the audit as anticipated. Risk Factors that could cause actual results or outcomes to differ materially from the results expressed or implied by forward-looking statements include, among other things: general economic and business conditions, and political, social and other risks inherent in carrying on business in a foreign jurisdiction. Forward-looking statements contained in this press release are made based on Management's beliefs, estimates and opinions on the date the statements are made and the Corporation undertakes no obligation to update forward-looking statements and if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking statements. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
The TSX does not accept responsibility for the adequacy or accuracy of this news release.
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Oct. 22, 2016 08:15 AM EDT Reads: 351
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Oct. 22, 2016 08:15 AM EDT Reads: 3,748
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of So...
Oct. 22, 2016 08:15 AM EDT Reads: 2,070
SYS-CON Events announced today that eCube Systems, the leading provider of modern development tools and best practices for Continuous Integration on OpenVMS, will exhibit at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. eCube Systems offers a family of middleware products and development tools that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
Oct. 22, 2016 08:00 AM EDT Reads: 4,421
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
Oct. 22, 2016 07:45 AM EDT Reads: 3,089
Oct. 22, 2016 07:00 AM EDT Reads: 3,513
Oct. 22, 2016 07:00 AM EDT Reads: 2,251
Oct. 22, 2016 06:45 AM EDT Reads: 360
Oct. 22, 2016 06:30 AM EDT Reads: 2,197
Oct. 22, 2016 06:15 AM EDT Reads: 11,208
Oct. 22, 2016 06:00 AM EDT Reads: 1,341
Oct. 22, 2016 05:45 AM EDT Reads: 459
Oct. 22, 2016 05:45 AM EDT Reads: 16,258
Oct. 22, 2016 05:00 AM EDT Reads: 2,473
Oct. 22, 2016 05:00 AM EDT Reads: 690