Tawsho Mining Inc. Announces Grant of Temporary Management Cease Trade Order
05.05.2015 | Marketwire
TORONTO, May 4, 2015 - Tawsho Mining Inc. (TSX VENTURE:TAW) ("Tawsho" or the "Corporation") announces that, further to its news release date April 17, 2015, the Ontario Securities Commission has issued a temporary management cease trade order which is in effect until May 15, 2015. This order provides that all trading in and all acquisitions of the securities of Tawsho, whether direct or indirect, by Stephen Balch (CEO) and Harry Chang (CFO) shall cease for a period of 15 days from today's date. This order is a result of the Corporation's application for a management cease trade order for the delay in filing its 2014 annual audited financial statements, and its related Management's Discussion and Analysis, Chief Executive Officer and Chief Financial Officer certifications, and Ontario's Form 13-502F1 relating to Class 1 Reporting Issuer Participation fee (collectively, the "Required Filings"), which were required to be filed on or before April 30, 2015.Further to the Corporation's news release dated April 28, 2015, it is expected that Tawsho will be able to close a private placement this week for funds which will be used, in part, to pay its audit expenses. It is then anticipated that the auditor will be able to complete the audit by about June 5, 2015, with filing of the Required Filings shortly thereafter.
There are no material changes to the information contained in the default announcement of April 17, 2015. The Corporation confirms that it intends to satisfy the provisions of the alternative information guidelines described in section 4.3 and 4.4 of National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults, for so long as it remains in default of the requirement to file the Required Filings.
ABOUT TAWSHO MINING INC.
Tawsho is a mining exploration company focused on the acquisition, exploration and development of gold resources and advanced stage gold exploration Properties. The Corporation is presently developing its Chevrier Gold Property (comprised of 557 claims, covering an area of 9542 hectares, or 95.4 sq. km) located in the Chibougamau region of Quebec. Tawsho currently has approximately 31.5 million common shares issued and outstanding.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as a term that is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Contact
Tawsho Mining Inc.
Mr. Stephen Balch, President and CEO
(905) 407-9586
sbalch@tawshomining.com