Welcome!

News Feed Item

Mediterranean Provides Update on Cease Trade Orders and Status of Listing on the Toronto Stock Exchange

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/20/14 -- Mediterranean Resources Ltd. (TSX:MNR)(FRANKFURT:MHM1) ("Mediterranean" or the "Company") is pleased to announce that the cease trade order dated May 2, 2014 issued by the British Columbia Securities Commission was revoked on June 3, 2014, and the cease trade orders dated April 16, 2014 and May 14, 2014 issued by the Manitoba Securities Commission were revoked on April 17, 2014 and June 4, 2014, respectively. The Company filed an application on June 16, 2014 with the Ontario Securities Commission ("OSC") for the revocation of the cease trade order dated May 20, 2014 (the "OSC CTO"). The cease trade orders were issued in connection with the Company's late filing of its financial statements, management's discussion and analysis, annual information form and related certifications for the year ended December 31, 2013.

The Company is also pleased to announce that it has received a further extension with respect to the delisting of its common shares (the "Shares") from the Toronto Stock Exchange ("TSX"), and that the Shares will now be delisted from the TSX at the close of business on Thursday July 17, 2014. On May 16, 2014, the TSX announced its decision to delist the Shares at the close of business on June 16, 2014. On May 23, 2014, the Company appealed the decision of the TSX with respect to the delisting of the Shares, and on June 10, 2014 the TSX announced an extension of the delisting date to June 19, 2014 in order to hear an appeal from the Company. On June 19, 2014, following the hearing of the Company's appeal on June 18, 2014, the TSX announced a further extension of the delisting date to July 17, 2014.

The Company has made an application to the TSX Venture Exchange ("TSXV") to migrate the listing of its Shares from the TSX to the TSXV. There can be no assurance that a listing on the TSXV will be obtained before the Company is delisted from the TSX, or at all. The TSX has indicated that further extensions to the delist date may be granted if the TSX is confident that the Company is actively working to move to another market.

Once the OSC CTO has been revoked, management of the Company intends to apply to the TSX to request that the suspension on trading of the Shares be lifted while the Company focuses on recommencing business operations of the Company, including development of the Company's primary assets in Turkey.

Signed on behalf of the Board of Directors,

Robert Abenante, Chairman, President & CEO

Disclaimer for Forward Looking Information

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" occur. Forward-looking information in this news release includes, but is not limited to, statements regarding expectations of the Company and management regarding: (i) duration and effect of the OSC CTO, (ii) revocation of the OSC CTO, (iii) timing for delisting of the Shares from the TSX, (iv) suspension of the Shares from trading on the TSX, (v) the Company's intention to apply for the suspension on trading of the Shares to be lifted after the OSC CTO is revoked, (vi) recommencing business operations of the Company, (vii) migration of the listing of the Shares from the TSX to the TSXV, and the approval and timing thereof, and (viii) the granting of further extensions to the TSX delist date. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including, without limitation, the risks that: (i) the OSC CTO may not be revoked within the timeframe expected by the Company or at all, (ii) the delisting of the Shares from the TSX may take effect earlier or later than stated in this news release, (iii) the Company may not apply for the suspension on trading of the Shares to be lifted, (iv) the Company may not be able to recommence business operations as expected or at all for any reason whatsoever, (v) the listing of the Shares may not be migrated from the TSX to the TSXV for any reason whatsoever, (vi) further extensions of the TSX delist date may not be grated for any reason whatsoever, and (vii) such other factors beyond the control of the Company. Except as required by law, the Company does not intend to update these forward-looking statements.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.

Contacts:
Mediterranean Resources Ltd.
Robert Abenante
(604) 669-3397
www.medresources.ca

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
In his session at 20th Cloud Expo, Scott Davis, CTO of Embotics, will discuss how automation can provide the dynamic management required to cost-effectively deliver microservices and container solutions at scale. He will discuss how flexible automation is the key to effectively bridging and seamlessly coordinating both IT and developer needs for component orchestration across disparate clouds – an increasingly important requirement at today’s multi-cloud enterprise.
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in compute, storage and networking technologies, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/...
Everyone wants to use containers, but monitoring containers is hard. New ephemeral architecture introduces new challenges in how monitoring tools need to monitor and visualize containers, so your team can make sense of everything. In his session at @DevOpsSummit, David Gildeh, co-founder and CEO of Outlyer, will go through the challenges and show there is light at the end of the tunnel if you use the right tools and understand what you need to be monitoring to successfully use containers in your...
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
SYS-CON Events announced today that DatacenterDynamics has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY. DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
NHK, Japan Broadcasting, will feature the upcoming @ThingsExpo Silicon Valley in a special 'Internet of Things' and smart technology documentary that will be filmed on the expo floor between November 3 to 5, 2015, in Santa Clara. NHK is the sole public TV network in Japan equivalent to the BBC in the UK and the largest in Asia with many award-winning science and technology programs. Japanese TV is producing a documentary about IoT and Smart technology and will be covering @ThingsExpo Silicon Val...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor – all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...