Ivernia Re-Files Q1 2011 Financial Statements
TORONTO, ONTARIO -- (Marketwire) -- 06/14/11 -- All Dollar Amounts are in U.S. Dollars Unless Otherwise Indicated
Ivernia Inc. ('Ivernia' or the 'Company') (TSX: IVW) today announced that it re-filed its unaudited consolidated interim financial statements for the period ended March 31, 2011 ('Q1 Interim Consolidated Financial Statements').
The Q1 Interim Consolidated Financial Statements are being re-filed because the Company inadvertently filed an incorrect earlier draft of these interim consolidated financial statements. The differences represent changes to the Consolidated Interim Statement of Financial Position, Consolidated Interim Statement of Changes in Equity, Consolidated Interim Statement of Cash Flows and corresponding Notes to Q1 Interim Consolidated Financial Statements. The management's discussion and analysis for the interim period ending March 31, 2011 is unaffected by these changes.
The changes relate to foreign exchange related adjustments resulting in reductions to Property, Plant, Equipment, increases to the Deferred Tax asset and reductions to the Cumulative Translation Adjustment and the Retained Deficit as at January 1, 2010, December 31, 2010 and March 31, 2011 as well as the corresponding Notes to Q1 Interim Consolidated Financial Statements. There were also minor editing changes to other Notes to the Q1 Interim Consolidated Financial Statements.
Ivernia's revised Q1 Interim Consolidated Financial Statements for the quarter ended March 31, 2011 were filed today and will be available on the Ivernia website at www.ivernia.com or SEDAR at www.sedar.com.
About Ivernia
Ivernia is an international base metal mining company and the owner of the Magellan Mine, located in Western Australia.
Ivernia trades under the symbol 'IVW' on the Toronto Stock Exchange. Additional information on Ivernia is available on the Company's website at www.ivernia.com and at SEDAR at www.sedar.com.
Contacts:
Ivernia Inc.
Brent Omland
Vice President, Finance & Chief Financial Officer
(416) 867-9298
investor@ivernia.ca