Razore Rock Resources Inc.

Razore Rock Resources Inc.

September 14, 2015 16:11 ET

Razore Rock Provides First Default Status Report

TORONTO, ONTARIO--(Marketwired - Sept. 14, 2015) - Razore Rock Resources Inc. ("Razore Rock" or the "Company") (CSE:RZR) is providing this bi-weekly Default Status Report in accordance with National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203"). On August 25, 2015, the Company announced that there would be a delay in filing its Annual Audited Consolidated Financial Statements ("Annual Financial Statements") and Management Discussion & Analysis ("MD&A") for the Company's financial year ended April 30, 2015 (collectively, the "Financial Disclosure"), the deadline for filing of which was August 28, 2015.

In accordance with NP 12-203, and as previously announced, the Company applied to the applicable securities commissions and regulators for a Management Cease Trade Order related to the Company's common shares to be imposed against certain of the Company's executive officers instead of a general Cease Trade Order being imposed against all securities of the Company. On September 4, 2015, the Ontario Securities Commission issued a temporary Management Cease Trade Order which imposes restrictions on the Chief Executive Officer, Michael Wilson, and the Chief Finanical Officer, Rodger Roden, with respect to trading in and acquiring securities of the Company, pending a hearing scheduled for September 16, 2015.

If the Financial Disclosure is not filed by September 30, 2015, the applicable securities commissions or regulators may impose a general Cease Trade Order. A general Cease Trade Order may be imposed sooner if the Company fails to satisfy the provisions of the Alternative Information Guidelines required pursuant to NP 12-203 (the "Alternative Information Guidelines").

The Company is working with its auditors to complete the audit of the Company's Annual Financial Statements as soon as possible and now anticipates filing the Financial Disclosure on September 16, 2015. Until its Financial Disclosure is filed, the Company intends to continue to satisfy the Alternative Information Guidelines by issuing bi-weekly Default Status Reports, each of which will be issued in the form of a press release. The Company intends to issue its next Default Status Report on September 28, 2015 if the Financial Disclosure has not been filed by then.

The Company reports that since its original announcement on August 25, 2015 and the issuance of the temporary Management Cease Trade Order in respect of the delay in filing its Financial Disclosure, there have not been any material changes to the information provided therein other than as described herein nor any failure by the Company in fulfilling its stated intentions with respect to satisfying the Alternative Information Guidelines.

In addition to the information disclosed herein, there has not been any other specified default by the Company under NP 12-203, nor are any anticipated and there is no other material information concerning the affairs of the Company that has not been generally disclosed.

About Razore Rock Resources Inc.

Razore Rock Resources Inc. is a mineral exploration company focused on the acquisition, exploration and development of mineral resources.

Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this Press Release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. The reader is cautioned not to put undue reliance on such forward-looking statements.

Contact Information

  • Razore Rock Resources Inc.
    Bill Johnstone
    Corporate Secretary
    (416) 865-6605