Trident Gold Corp.
TSX VENTURE : TTG

Trident Gold Corp.

May 27, 2015 06:00 ET

Trident Provides Default Status Report

TORONTO, ONTARIO--(Marketwired - May 27, 2015) - Trident Gold Corp. (TSX VENTURE:TTG) ("Trident") 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 April 27, 2015, the Company announced (the "Default Announcement") that, for the reasons set out in the Default Announcement, there would be a delay in the filing of the annual audited financial statements, accompanying Management's Discussion and Analysis for the year ended December 31, 2014 (the "Required Filings"). The last bi-weekly announcement was made on May 12, 2015.

As a result of this delay in the filing of the Required Filings, the Ontario Securities Commission granted a temporary management ceased trade order (the "MCTO") on May 8, 2015 against the Company's Chief Executive Officer and Chief Financial Officer, as opposed to a general cease trade order against the Company. The MCTO restricts all trading in securities of the Company, whether direct or indirect, by the Chief Executive Officer and Chief Financial Officer of the Company until such time as the Required Filings have been filed by the Company. The MCTO does not generally affect the ability of shareholders who are not insiders of the Company to trade their securities.

The Company has initiated the audit process and has provided all requested information to its auditors. The Company is working closely with its auditors and expects to the complete the remaining steps in a timely manner.

Pursuant to the provisions of the alternative information guidelines specified in Section 4.4 of NP 12-203, the Company reports that since the Default Announcement:

  • There have been no material changes to the information contained in the Default Announcement;
  • There have been no failures by the Company to fulfill its stated intentions with respect to satisfying the provisions of the alternative reporting guidelines;
  • There has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the Default Announcement; and
  • There is no other material information respecting the Company's affairs that has not been generally disclosed.

Until the Required Filings have been filed, the Company intends to continue to satisfy the provisions of the alternative information guidelines specified in Section 4.4 of NP 12-203 by issuing bi-weekly default status reports in the form of further news releases, which will be filed on SEDAR. The Company would file, to the extent applicable, its next default status report on or about June 10, 2015.

CAUTIONARY STATEMENT

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. THIS NEWS RELEASE INCLUDES FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO RISKS AND UNCERTAINTIES. ALL STATEMENTS WITHIN, OTHER THAN STATEMENTS OF HISTORICAL FACT, ARE TO BE CONSIDERED FORWARD LOOKING. ALTHOUGH THE COMPANY BELIEVES THE EXPECTATIONS EXPRESSED IN 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 FORWARD-LOOKING STATEMENTS. FACTORS THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE IN FORWARD-LOOKING STATEMENTS INCLUDE MARKET PRICES, EXPLOITATION AND EXPLORATION SUCCESSES, CONTINUED AVAILABILITY OF CAPITAL AND FINANCING, AND GENERAL ECONOMIC, MARKET OR BUSINESS CONDITIONS. THERE CAN BE NO ASSURANCES THAT SUCH STATEMENTS WILL PROVE ACCURATE AND, THEREFORE, READERS ARE ADVISED TO RELY ON THEIR OWN EVALUATION OF SUCH UNCERTAINTIES. WE DO NOT ASSUME ANY OBLIGATION TO UPDATE ANY FORWARD-LOOKING STATEMENTS. THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY SECURITIES IN THE UNITED STATES. THE SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "U.S. SECURITIES ACT") OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED UNDER THE U.S. SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE.

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