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pleased to announce that the cease trade order dated May 2, 2014 issued by the British Columbia Securities Commission was revoked on June 3, 2014, and the cease trade orders dated April 16, 2014 and May 14, 2014 issued by the Manitoba Securities Commission were revoked on April 17, 2014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Once the OSC CTO has been revoked, management of the Company intends to apply to the TSX to request that the suspension on trading of the Shares be lifted while the Company focuses on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
22nd International Cloud Expo, taking place June 5-7, 2018, at the Javits Center in New York City, NY, and co-located with the 1st DXWorld Expo will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud ...
@DevOpsSummit at Cloud Expo, taking place November 12-13 in New York City, NY, is co-located with 22nd international CloudEXPO | first international DXWorldEXPO and will feature technical sessions from a rock star conference faculty and the leading industry players in the world.
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will discuss how customers are able to achieve a level of transparency that e...
"DivvyCloud as a company set out to help customers automate solutions to the most common cloud problems," noted Jeremy Snyder, VP of Business Development at DivvyCloud, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
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 smart...
"We were founded in 2003 and the way we were founded was about good backup and good disaster recovery for our clients, and for the last 20 years we've been pretty consistent with that," noted Marc Malafronte, Territory Manager at StorageCraft, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
We all know that end users experience the internet primarily with mobile devices. From an app development perspective, we know that successfully responding to the needs of mobile customers depends on rapid DevOps – failing fast, in short, until the right solution evolves in your customers' relationship to your business. Whether you’re decomposing an SOA monolith, or developing a new application cloud natively, it’s not a question of using microservices - not doing so will be a path to eventual ...
We all know that end users experience the internet primarily with mobile devices. From an app development perspective, we know that successfully responding to the needs of mobile customers depends on rapid DevOps – failing fast, in short, until the right solution evolves in your customers' relationship to your business. Whether you’re decomposing an SOA monolith, or developing a new application cloud natively, it’s not a question of using microservices - not doing so will be a path to eventual ...
DXWorldEXPO LLC announced today that ICC-USA, a computer systems integrator and server manufacturing company focused on developing products and product appliances, will exhibit at the 22nd International CloudEXPO | DXWorldEXPO. DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City. ICC is a computer systems integrator and server manufacturing company focused on developing products and product appliances to meet a wide range of ...
Michael Maximilien, better known as max or Dr. Max, is a computer scientist with IBM. At IBM Research Triangle Park, he was a principal engineer for the worldwide industry point-of-sale standard: JavaPOS. At IBM Research, some highlights include pioneering research on semantic Web services, mashups, and cloud computing, and platform-as-a-service. He joined the IBM Cloud Labs in 2014 and works closely with Pivotal Inc., to help make the Cloud Found the best PaaS.
We all know that end users experience the Internet primarily with mobile devices. From an app development perspective, we know that successfully responding to the needs of mobile customers depends on rapid DevOps – failing fast, in short, until the right solution evolves in your customers' relationship to your business. Whether you’re decomposing an SOA monolith, or developing a new application cloud natively, it’s not a question of using microservices – not doing so will be a path to eventual b...
Sanjeev Sharma Joins November 11-13, 2018 @DevOpsSummit at @CloudEXPO New York Faculty. Sanjeev Sharma is an internationally known DevOps and Cloud Transformation thought leader, technology executive, and author. Sanjeev's industry experience includes tenures as CTO, Technical Sales leader, and Cloud Architect leader. As an IBM Distinguished Engineer, Sanjeev is recognized at the highest levels of IBM's core of technical leaders.
Headquartered in Plainsboro, NJ, Synametrics Technologies has provided IT professionals and computer systems developers since 1997. Based on the success of their initial product offerings (WinSQL and DeltaCopy), the company continues to create and hone innovative products that help its customers get more from their computer applications, databases and infrastructure. To date, over one million users around the world have chosen Synametrics solutions to help power their accelerated business or per...
Dion Hinchcliffe is an internationally recognized digital expert, bestselling book author, frequent keynote speaker, analyst, futurist, and transformation expert based in Washington, DC. He is currently Chief Strategy Officer at the industry-leading digital strategy and online community solutions firm, 7Summits.