Update on Strateco: CCAA Court Protection and Cease Trade Order
BOUCHERVILLE, QUEBEC--(Marketwired - Sep 8, 2015) - The Superior Court of Quebec (Commercial Division) has extended the initial order issued under the Companies' Creditors Arrangement Act ("CCAA") in relation to Strateco Resources Inc. ("Strateco") until October 1, 2015.
The Honourable Justice Danielle Turcotte, appointed to oversee the CCAA proceedings instituted by Strateco, approved on September 3, 2015 an extension of the protection provided by the initial order until October 1, 2015, to enable Strateco to finalize its efforts to finance the $190 million lawsuit against the Quebec government.
Furthermore, a cease trade order has been issued by the Autorite des marches financiers on September 4, 2015, against Strateco for failing to file Management discussion and analysis and financial statements for the quarter ended June 30, 2015.
Upon revocation of the cease trade order, the Strateco's shares will remain suspended until Strateco meets TSX Venture Exchange requirements. Members are prohibited from trading in the securities of Strateco during the period of the suspension or until further notice.
This news release contains "forward-looking statements" subject to certain risks and uncertainties. There can be no assurance that these statements will prove to be correct. Actual results and future events could differ significantly from those implied by such statements. These risks and uncertainties are discussed in Strateco's annual information form filed with the securities commissions of British Colombia, Alberta, Ontario and Quebec.
Contact
Strateco Resources Inc.
Guy Hebert
President and Chief Executive Officer
450.641.0775 / 1.866.774.7722
450.641.1601
ghebert@strateco.ca
Jean-Pierre Lachance
Executive Vice President
450.641.0775 / 1.866.774.7722
450.641.1601
jplachance@strateco.ca
www.strateco.ca