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Sunset Cove Mining Inc. (TSXV:SSM) announced that the Company will not be able to file its 2013 Annual Audited Financial Statements by the filing deadline of July 30, 2013.
As quoted in the press release:
… the Corporation will not be able to file its annual audited financial statements, management’s discussion and analysis and CEO and CFO certificates (collectively, the “2013 Annual Audited Financial Statements”) by the filing deadline of July 30, 2013 as prescribed by National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102″). This is due to a miscommunication with the Corporation’s auditors and the decision to name new auditors. This decision is not based on any disagreement relating to the financial statements of the Corporation.
Until Sunset Cove Mining completes the filing of the 2013 Annual Audited Financial Statements, Sunset will comply with the alternative information guidelines set out in National Policy 12-203 – Cease Trade Orders for Continuous Disclosure Defaults 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 Sunset to issue bi-weekly default status reports by way of a news release so long as the 2013 Annual Audited Financial Statements have not been filed.
Sunset Cove Mining has made an application to the applicable regulatory authorities for a management cease trade order (“MCTO”). There is no certainty that such order will be granted. If a MCTO is granted, the general investing public will still be able to trade Sunset Cove Mining listed common shares, however, the Corporation’s Chief Executive Officer, Chief Financial Officer and such other directors, officers and persons as determined by the applicable regulatory authorities, will not be able to trade Sunset Cove Mining shares. This action by the Corporation is intended to ensure that there is no inconvenience suffered by the shareholders of Sunset Cove Mining and the general investing public.
If a MCTO is not granted, the applicable regulatory authorities may issue a cease trade order against Sunset Cove Mining for failure to file the 2013 Annual Audited Financial Statements within the prescribed time period.
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