Cease Trade Order and Update on Filing of the Financial Statements

 

TORONTO, April 05, 2019 (GLOBE NEWSWIRE) -- Forsys Metals Corp. (“Forsys” or the “Company”) (TSX: FSY) (FSE: F2T) (NSX:FSY) announced today that the Ontario Securities Commission has issued a failure-to-file cease trade order (the “Order”) as a result of the Company’s delay in the filing of its annual audited financial statements, management’s discussion and analysis and related CEO and CFO certifications for the year ended December 31, 2018 and the annual information form for the year ended December 31, 2018 (the “2018 Annual Financial Materials”). As announced on April 2, 2019, the Company was not able to file the 2018 Annual Financial Materials by the required filing date due to the incompletion of the audit in respect of certain records related to the Company’s 51% owned subsidiary, Razorback Gold Mining Company (Pty) Limited.

The Order ceases all trading in the securities of the Company. Forsys has been working diligently to complete its 2018 Annual Financial Materials and expects to be in a position to file the 2018 Annual Financial Materials by April 10, 2019. The Order will remain in effect until the Company files the 2018 Annual Financial Materials. Forsys confirms that there is no other material information relating to its affairs that has not been generally disclosed.

FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements with respect to the Company. Such forward-looking statements are dependent upon a certain number of factors and are subject to risks and uncertainties. Management does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information or future events, except when required by regulatory authorities.

ABOUT FORSYS METALS CORP.

Forsys Metals Corp. is an emerging uranium producer with 100% ownership of the Norasa project that comprises the fully permitted Valencia uranium project and the Namibplaas uranium project in Namibia, Africa, a politically stable and mining friendly jurisdiction. Information regarding current National Instrument 43-101 compliant Resource and Reserves at Valencia and Namibplaas are available on the Company website. 

DISCLAIMER

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

FOR FURTHER INFORMATION CONTACT:

Jorge Estepa, Corporate Secretary
Telephone: (416) 818-4035

www.forsysmetals.com

PDF available: http://ml.globenewswire.com/Resource/Download/1a0c5d68-486f-468c-8d61-2975d63de659