TORONTO, ONTARIO--(Marketwired - Feb. 28, 2017) - Continental Precious Minerals Inc. (TSX:CZQ) ("Continental", the "Company") reports that it has applied for voluntary delisting of its shares on the TSX and concurrently applied for a listing on the NEX, a separate board of the TSX-V.
Following the sale of the Viken Project in Sweden, Continental does not currently have any assets other than its cash of approximately $5.5 million. An NEX listing will continue to offer investors an opportunity to buy and sell Continental shares, while at the same time reducing the Company's expenses. The Company is currently evaluating other opportunities and will provide updates as they become available.
The Company expects the delisting of its shares from the TSX and transition to the NEX to happen simultaneously and the Company will issue a further press release once the date has been determined.
The Company also wishes to announce that Dave Pryce has resigned as a director of the Company. Norman Brewster, Interim CEO, commented, "On behalf of CZQ, we thank Mr. Pryce for his contributions to the company over the years and we wish him the very best in his future endeavours."
Common Shares: 11,706,896
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The forward-looking information contained in this press release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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