Poplar Creek Resources Inc.

April 30, 2012 16:12 ET

Poplar Creek Resources Inc. Announces Delay in Filing Year End Financials and Filing of Reserves Information

CALGARY, ALBERTA--(Marketwire - April 30, 2012) -


Poplar Creek Resources Inc. (the "Corporation") (TSX VENTURE:PCK), "PCK" on the TSX Venture Exchange, announces that it anticipates that the annual financial statement and MD&A for the 12 month period ending December 31, 2011 will not be filed by April 30, 2012 due to complexities relating to IFRS requirements and the transition from Canadian GAPP relating to impairment and depletion and allocation to the cost generating units (CGUs). The Company is working diligently with its land and accounting consultants to compile the base numbers and allocations and working with the auditors to file as soon as possible with an anticipated filing date of May 10, 2012. In order to keep the market informed, the Company will issue bi-weekly news releases under the guidelines of National Policy 12-203 so long as it remains in default of the filing. The Company has applied for a Management Cease Trade Order (MCTO) to avoid the issuance of a cease trade order against the shares of the Company. This news release has been authorized by John Carruthers, CEO of the Company and the audit committee.

The Corporation also announces that it has filed its reports under section 2.1 of National Instrument 51-101 Standards of Disclosure for Oil & Gas Activities for the year ending December 31, 2011 on the Corporations profile on SEDAR at www.sedar.com

This release includes certain statements that may be deemed "forward looking statements". All statements in this release, other than statements of historical facts, which address future activities including the closing of the financing, exploration drilling and activity, and events or developments that the Corporation intends, plans, anticipates, believes, estimates or expects are forward looking statements. Actual results may differ materially. Although the Corporation believes such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward looking statements. Factors that could cause results to differ materially from those in the forward looking statements include, but are not limited to: market conditions and difficulties of raising funds in this economic environment, availability and costing of exploration contractors; exploration success; continued availability of capital government regulations, laws and charges; environmental developments; exploitation economics; and generally the economic, market, financial and business conditions in the present volatile and uncertain economic period. Investors are cautioned that any statements are not guarantees of future performance and actual results or developments may differ materially from those stated in the forward looking statements. The Corporation does not intend, and does not assume any obligation, to update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Poplar Creek. This news release shall not constitute an offer to sell or the solicitation of any offer to buy securities in any jurisdiction.

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

Contact Information

  • Poplar Creek Resources Inc.
    John Carruthers
    (403) 875-1821

    Poplar Creek Resources Inc.
    Richard Edgar
    President & CFO
    (403) 616-5387