Maudore Minerals Ltd.

Maudore Minerals Ltd.

December 22, 2014 09:25 ET

Maudore Cease Trade Order Lifted

VAL-D'OR, QUEBEC--(Marketwired - Dec. 22, 2014) - George Fowlie, Chairman of Maudore Minerals Ltd. (TSX VENTURE:MAO)(OTCBB:MAOMF)(FRANKFURT:M6L) ("Maudore" or the "Corporation"), announces today that the cease trade order preventing trading in the Corporation's shares which had been issued by the competent securities regulatory authorities as a result of the failure by the Corporation to file its financial statements for the nine months ended September 30, 2014 within the prescribed delay, has been lifted. The Corporation has been advised by the TSX Venture Exchange that they will be reclassifying the Corporation to Tier 2 effective December 22, 2014 and the shares will resume trading at that time.

About Maudore Minerals Ltd.

Maudore is a Quebec-based junior gold company with mining and milling assets as well as more than 22 exploration projects. Five of these projects are at an advanced stage of development with reported current and historical resources and mining. Currently, all of the Corporation's operating assets are on care and maintenance awaiting a significant change in the gold market.

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, failure to obtain any required financing or the approval of creditors to the Proposals to be presented to them, failure to implement any strategic alternatives for the Corporation, 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