Montan Announces Late Filing of Annual Financial Statements and Management Cease Trade Order
Vancouver, B.C., November 29, 2017 – Montan Mining Corp. (TSXv: MNY) (FSE: S5GM) (the “Company” or “Montan”) announced today that as a result of delays in completion of its audit, the Company has not filed its annual financial statements and accompanying management’s discussion and analysis for the fiscal year ended July 31, 2017 (the "Annual Filings") by November 28, 2017, being the date that such filings are due under applicable Canadian securities law requirements. The Company has applied for, and has been granted, a management cease trade order (the "MCTO") by the British Columbia Securities Commission.
The Company currently expects to file the Annual Filings on or before December 15, 2017 and will issue a news release announcing completion of such filings at such time. Until the Company files the Annual Filings, it will comply with the alternative information guidelines set out in National Policy 12-203 – Management Cease Trade Order for issuers who have failed to comply with a specified continuous disclosure requirement within the times prescribed by applicable securities laws. The guidelines, among other things, require the Company to issue bi-weekly default status reports by way of a news release so long as the Annual Filings have not been filed.
During the MCTO, the general investing public will continue to be able to trade in the Company's listed common shares. However, the Company's chief executive officer and chief financial officer will not be able to trade in the Company's shares.
About Montan Mining Corp.
Montan Mining Corp. is an emerging gold producer focusing on monetizing mining assets in Peru. The company is backed by an experienced management team with diverse technical, market, and finance expertise and is supported by committed and sophisticated investors focused on building long term value for shareholders.
For more information, please visit the corporate website at http://www.montanmining.ca or contact:
Investor Contact:
Luis F. Zapata Executive Chairman Tel: +1.604.358.1382 Email: [email protected]
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 NEWS RELEASE.
Forward-Looking Statements: Certain statements in this press release are forward-looking statements within the meaning of applicable securities laws. Forward-looking statements in this press release include that we will purchase the Peruvian company Kairos Capital Peru S.A.C (“Kairos”) and M&S Transportes y Servicios Generales S.R.L (“Mirador”) from Pacific Alliance, or that the company is assured of TSX Venture Exchange approval for its acquisition; and the implication that cash flow at Mirador will continue to increase. Such forward-looking statements and information are subject to risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement. Specific risks included that we may not be able to secure sufficient mineral feed stock of appropriate grades, we may not be able to attract or retain key employees necessary for our operations, we may not be able to finance operations, we may not be able to sustain recoveries that ensure profitability, and we may not be able to locate or negotiate transactions which result in growth of our business. We may not be able to become profitable even if we are producing and milling to capacity, profitability depends on revenues and expenses which are not completely controllable; we may not be able to secure mineral feed from other miners; and we may not be able to restart production because of technical or expense issues. Readers are cautioned to review the risk factors of junior mining companies which apply equally to our company, and to our management discussion and analysis as filed on SEDAR. Other than as required by law, we assume no obligation to update these forward looking statements.