Nov 02, 2015
Default Announcement Pursuant to National Policy 12-203
Vancouver, BC - November 2, 2015 - Argentum Silver Corp. ("Argentum" or the "Issuer") (TSX-V:ASL) announces that it was not in a position to file its audited annual financial statements (the "Statements"), management's discussion and analysis and related certifications for the fiscal year ended June 30, 2015 on or before October 28, 2015, the required filing due date, as a result of difficulty in obtaining information from its Mexican subsidiary.
Accordingly, the Issuer requested the issuance of a management cease trade order ("MCTO") under the provisions of National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203") so as to permit the continued trading in the Issuer's common shares by persons other than insiders and employees of the Issuer. The MCTO was issued by the British Columbia Securities Commission today.
The Issuer is currently working closely with its auditor, and expects to be able to have the audit of the Statements completed, and the Statements filed, by November 20, 2015.
The Issuer confirms that it intends to satisfy the provisions of section 4.4 of NP 12-203 and issue bi- weekly default status reports for so long as the Issuer remains in default of the financial statement filing requirement. Such report will disclose any material changes to the information in this release; all actions taken by the Issuer to remedy the default; particulars of any failure by the Issuer to fulfill these provisions; any subsequent defaults of the Issuer requiring a default announcement; and any other material information concerning the affairs of the Issuer not previously disclosed. The Issuer is not be subject to any insolvency proceedings nor is there in other material information concerning the affairs of the Issuer that has not been generally disclosed.
About Argentum Silver Corp.
Argentum holds a 100% interest in the Coyote and Victoria properties located in Jalisco, Mexico, and the Lachiguiri and Silacayoapan properties located in Oaxaca, Mexico. For further information, please visit www.argentumsilvercorp.com.
On behalf of the Board of Directors of Argentum Silver Corp.
President & CEO
For information please contact:
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of the word, "will" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Issuer's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular,
this news release contains forward-looking information relating to the anticipated date for filing the June 30, 2015 annual financial statements and related management's discussion and analysis.
Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Issuer. The material factors and assumptions include the ability of the Issuer to meet the conditions for listing of the Exchange. The Issuer cautions the reader that the above list of risk factors is not exhaustive. Those assumptions and factors are based on information currently available to the Issuer. The forward-looking information contained in this release is made as of the date hereof and the Issuer is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws, or as otherwise may be disclosed in this news release. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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.