|November 15, 2013|
Armadillo Cease Trade Order
|November 15, 2013, Vancouver, BC - ( CNSX:ARO) Les Kjosness, President & CEO Armadillo Resources Ltd. ("the Company" or "Armadillo") announces that further to the news release of October 22, 2013 wherein the Company announced that the B.C. Securities Commission, as prescribed by National Instrument 51-102, placed a Management Cease Trade Order (MCTO) on the Company's Management and Insiders, the B.C. Commission has now issued a Cease Trade Order (CTO) as the Company could not file its annual audited financial statements, management's discussion and analysis and CEO and CFO certificates for the year ended May 31, 2013 (collectively, the "2013 Annual Audited Financial Statements") by the filing deadline of September 30, 2013. As a result, the Company has also been unable to file its quarterly report for three months ended August 31, 2013. |
Armadillo remains unable to acquire a Legal Opinion from Brazil for 2013 regarding the status of a tax default penalty, if any. Without the Legal Opinion, the Company therefore cannot satisfy the Auditor's requirements. The Cease Trade Order (CTO) will remain effective until Armadillo can file these documents. Armadillo continues to work diligently to rectify these deficiencies.
On behalf of the Board,
President and Director
For further information:
Les Kjosness: 604-952-6676
Kirsti Mattson: 778-434-2241 Media
The CNSX has neither approved nor disapproved of the accuracy of this release. The news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
You can view the Previous News Releases item: Tue Oct 22, 2013, Armadillo Updates Status of Management Cease Trade Order
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