Maudore Minerals Ltd.

Maudore Minerals Ltd.

January 07, 2015 14:07 ET

Maudore Announces Bankruptcy of its Subsidiary Aurbec Mines Inc.

TORONTO, ONTARIO--(Marketwired - Jan. 7, 2015) - Maudore Minerals Ltd. ("Maudore" or the "Corporation") (TSX VENTURE:MAO)(FRANKFURT:M6L) announces that as a result of the decision taken not to seek any further extension of its deadline to make a proposal to its creditors pursuant to the Bankruptcy and Insolvency Act (Canada) (the "BIA"), its subsidiary Aurbec Mines Inc. now has the status of a bankrupt entity under the BIA.

About Maudore Minerals Ltd.

Maudore is a Quebec-based junior gold company with more than 13 exploration projects. One of these projects is at an advanced stage of development with reported current and historical resources and mining.

Cautionary Statement Regarding Forward-Looking Statements

This release and other documents filed by the Corporation contain forward-looking statements. All statements that are not clearly historical in nature or that necessarily depend on future events are forward-looking, and the words "intend", "anticipate", "believe", "expect", "estimate", "plan" and similar expressions are generally intended to identify forward-looking statements. These forward-looking statements include, without limitation, performance and achievements of the Corporation, business and financing plans, business trends and future operating revenues. These statements are inherently uncertain and actual achievements of the Corporation or other future events or conditions may differ materially from those reflected in the forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation, financial related risks, unstable gold and metal prices, operational risks including those related to title, significant uncertainty related to inferred mineral resources, operational hazards, unexpected geological situations, unfavourable mining conditions, changing regulations and governmental policies, failure to obtain required permits and approvals from government authorities, failure to obtain any required approvals of the TSX Venture Exchange or from shareholders, failure to obtain any required financing, increased competition from other companies many of which have greater financial resources, dependence on key personnel and environmental risks and the other risks described in the Corporation's continuous disclosure documents.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

Contact Information

  • George Fowlie, Chairman of the Board
    Interim Chief Executive Officer and
    Interim Chief Financial Officer
    +1 416 587 9801