ARMADILLO RESOURCES LTD. : http://www.armadilloresources.com/ : QwikReport

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News Releases

#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,

'Les Kjosness'
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.
 
#October 22, 2013
Armadillo Updates Status of Management Cease Trade Order

 October 22, 2013, Vancouver, BC - ( CNSX:ARO) Les Kjosness, President & CEO of Armadillo Resources Ltd. ("the Company" or "Armadillo") announces that further to its news release dated October 9, 2013, it has not filed 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 prescribed by National Instrument 51-102 - Continuous Disclosure Obligations ("NI 51-102").

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. As a result of this default, a Management Cease Trade Order (MCTO) was placed on the Company's Management and Insiders.

Until Armadillo completes the filing of the 2013 Annual Audited Financial Statements, the Company will continue to comply with the alternative information guidelines set out in National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults for issuers who have failed to comply with a specified continuous disclosure requirement within the times prescribed by applicable securities laws. The guidelines, among other things, require Armadillo to issue bi-weekly default status reports by way of a news release so long as the 2013 Annual Audited Financial Statements have not been filed.

This action by the Company is intended to ensure that there is no inconvenience suffered by the shareholders of Armadillo and the general investing public. Armadillo confirms that it is not the object of any proceedings under insolvency legislation and that there are no other material facts not generally disclosed.

Armadillo continues to contact our legal representative in Brazil to acquire the legal opinion.


On behalf of the Board,

'Les Kjosness'
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.
 
#October 09, 2013
Armadillo Will File Audited Financial Statements by October 31, 2013 MCTO Application Granted

 October 9, 2013, Vancouver, BC - ( CNSX:ARO) Les Kjosness, President & CEO of Armadillo Resources Ltd. ("the Company" or "Armadillo") announces it has not filed 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 prescribed by National Instrument 51-102 - Continuous Disclosure Obligations ("NI 51-102").

Armadillo has been unable to acquire a legal opinion from Brazil for 2013 regarding the status of a tax default penalty, if any. Without the legal opinion, we have not been able to satisfy the auditor's requirements.

Until Armadillo completes the filing of the 2013 Annual Audited Financial Statements, the Company will comply with the alternative information guidelines set out in National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults for issuers who have failed to comply with a specified continuous disclosure requirement within the times prescribed by applicable securities laws. The guidelines, among other things, require Armadillo to issue bi-weekly default status reports by way of a news release so long as the 2013 Annual Audited Financial Statements have not been filed.

Armadillo has made an application to the applicable regulatory authorities for a management cease trade order ("MCTO"), which has been granted. Pursuant to the MCTO the general investing public will still be able to trade the Company's listed common shares, however, the Corporation's Chief Executive Officer, Chief Financial Officer and such other directors, officers and persons as determined by the applicable regulatory authorities, will not be able to trade Armadillo shares.

This action by the Company is intended to ensure that there is no inconvenience suffered by the shareholders of Armadillo and the general investing public. Armadillo confirms that it is not the object of any proceedings under insolvency legislation and that there are no other material facts not generally disclosed. This default has resulted in a Management Cease Trade Order (MCTO) placed on the Company's Management and Insiders.

Armadillo continues to contact our legal representative in Brazil to acquire the legal opinion.


On behalf of the Board,

'Les Kjosness'
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.
 
#July 11, 2013
Armadillo Resources Ltd. Adopts Advance Notice Policy for Director Nominations and Extends Warrants

 July 11, 2013, Vancouver, BC - ( CNSX:ARO) - The Company announces the approval by shareholders and adoption by its Board of Directors of an Advance Notice Policy (the "Policy") for the purpose of providing shareholders, Directors and Management of Armadillo with a clear framework for nominating Directors. The Policy is meant to: (i) facilitate an orderly and efficient process for annual general meetings or, where the need arises, special meetings of shareholders; (ii) ensure all shareholders receive adequate notice of the Director nominations and sufficient information with respect to all nominees; and (iii) allow shareholders to register an informed vote with respect to Director nominations, having been afforded reasonable time for appropriate deliberation.

The Policy contains a provision that requires advance notice to Armadillo in circumstances where nominations of persons for election to the Board of Directors are made by shareholders of Armadillo. The Policy fixes deadlines by which holders of record of common shares of Armadillo must submit Director nominations to Armadillo prior to any annual or special meeting of shareholders and sets forth the information that a shareholder must include in the notice to Armadillo for an effective nomination to occur. No person will be eligible for election as a Director of Armadillo unless nominated in accordance with the provisions of the Policy.

The deadline for notice to Armadillo in the case of an annual meeting of shareholders is not less than 55 days prior to the date of the annual meeting of shareholders; provided, however, that in the event that the annual meeting of shareholders is to be held on a date that is less than 65 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made not later than the close of business on the 10th day following such public announcement.

In the case of a special meeting (which is not also an annual meeting) of shareholders called for the purpose of electing Directors (whether or not called for any other purposes), the deadline for notice to Armadillo is no later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting was made.

The full text of the Policy is available via SEDAR under Armadillo's issuer profile at www.sedar.com or upon request by contacting Armadillo at (604) 952-6676.

More -


The Company has, in accordance with CNSX regulations, extended the expiry date of 2,740,000 warrants by two years to August 7, 2015. The warrants are exercisable at a price of Cdn. $0.10 per share.

Lastly, the Company reports that shareholders voted in favour of all items of business before the Annual General Meeting, including the election of all Director nominees. Anthony Pickett elected not to run for re-election to the Board and the Company thanks him for his service.


On behalf of the Board,

'Les Kjosness'
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. This 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.
 
#May 15, 2013
Company Signs US $10 Million Special Private Placement Agreement

 May 15, 2013, Vancouver, BC -- ( CNSX:ARO) Les Kjosness, President & CEO is pleased to announce the Company has signed a Special Private Placement Agreement (SPPA) for CDN $10,000,000, subject to regulatory approval, with Lambert Private Equity LLC of Solvang, California. The funds will be used for expansion and to advance the exploration and development of our mining properties as well as for property acquisitions and general corporate use.

The initial plan is to commence work on our newly acquired Flagstaff Gold Mine in Oregon State, USA. The Company intends to complete an initial program of sampling, trenching, and drilling including an upgrade to the existing tunnels to gain access and verify the existing ore body, as noted in the reports located on our website. After verification, Armadillo will pay US $50,000.00 and issue the old owners Dimari Enterprises LLC of Pasco, Washington 500,000 common shares of the Company. A further payment of US $50,000 per anniversary date or a 25% royalty from production, whichever is the greatest to a maximum total payable of US $5,000,000, will also be required.

There will be a total commitment fee of 4,000,000 common shares payable to Lambert Private Equities for this Special Private Placement Agreement.

Lambert Private Equity LLC invests through its unique equity and equity-linked structures in publically traded companies around the globe. Lambert generally looks to invest amounts from US $10million up to US $500 million directly into listed companies for a variety of activities including working capital, accredited EBITDA acquisitions and other growth opportunities.

Lambert Private Equities LLC has no outside investors and is considered a private group run by its principals, similar to a merchant bank that invests its own capital and as such is seeking capital appreciation through identification and funding and growth with potential companies.

On behalf of the Board,

'Les Kjosness'
President and Director

For further information:
Les Kjosness: 604-408-6500
Kirsti Mattson: 778-434-2241 Media

The CNSX has neither approved nor disapproved of the accuracy of this release. This 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.
 

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