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.
TRUE GRIT RESOURCES LTD.
615 - 800 West Pender St., Vancouver, B.C. V6C 2V6 TELEPHONE: (604) 684-5901 FACSIMILE: (604) 684-0279 NEX TRADING SYMBOL – TGI.H
NEWS RELEASE
September 15, 2015
Update on True Grit’s delay in filing Audited and Interim financial Statements
September 15th, 2015 – Vancouver, BC – True Grit Resources Ltd. (NEX-TGI.H) (“True Grit” or the “Company”) provides update to the information contained in the default notice that was released on July 30th, 2015. The cease trade order was issued in respect of a default in filing its annual financial statements, management's discussion and analysis, and certifications for the period ending March 31, 2015 which were due to be filed on July 30, 2015 as required under National Instrument 51-102 Continuous Disclosure Obligations (the "Annual Financial Statements").
The Company continues to work diligently with its auditors to file the Annual Financial Statements in an expedient manner. The Company anticipates being able to file the annual filings on or before September 28, 2015, during which time the Company will continue to provide bi-weekly default status reports in accordance with Section 4.4 of National Policy 12-203 – Cease Trade Orders for Continuous Disclosure Defaults.
Further, the Company provides notice of default in filing its interim financial statements, management's discussions and analysis and certifications for the three-month period ending June 30, 2015 which were due to be filed on August 31, 2015 (the "Q1 2015 Financial Statements") as a result of the Annual Financial Statements not having been filed.
As a result of the delay, the Company has voluntarily requested that the securities commissions in British Columbia and Alberta issue a temporary order that prohibits certain current officers of True Grit from trading in securities of the Company for so long as the annual filings are not filed. The issuance of such management cease trade order generally does not affect the ability of persons who have not been directors, officers or insiders of the issuer to trade in their securities.
We seek Safe Harbor.
On behalf of the Board,
TRUE GRIT RESOURCES LTD.
Doug Fulcher
Doug Fulcher President and CEO
This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.com.
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.