Geodex Provides Default Status Update
TORONTO, ONTARIO--(Marketwired - Aug 27, 2015) - Geodex Minerals Ltd. (TSX VENTURE:GXM) (the "Company" or "Geodex") is providing a default status report in accordance with the alternative information guidelines set out in National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203").
On July 30, 2015, the Company announced (the "Default Announcement") that it had not filed its annual financial statements and management discussion and analysis for the year ended March 31, 2015, together with the related certification of filings under National Instrument 52-109 - Certification of Disclosure in Issuers' Annual and Interim Filings (collectively, the "Continuous Disclosure Documents") by the prescribed deadline of July 29, 2015.
Except as discussed below, there have been no material changes to the information contained in the Default Announcement or any other changes required to be disclosed under NP 12-203.
The Company was unable to complete the audit prior to August 21, 2015, as previously anticipated. However, the Company expects the audit process to be completed shorty and to file the Continuous Disclosure Documents on or before September 4, 2015. The Company will continue to provide bi-weekly updates, as contemplated by NP 12-203, until the Continuous Disclosure Documents have been filed. In the event that the Company does not file the Continuous Disclosure Documents by September 28, 2015, the Canadian Securities Regulatory Authorities may impose an issuer cease trade order on the outstanding securities of the Company. The Company intends to satisfy the provisions of the Alternative Information Guidelines during the period it remains in default of the filing requirements.
ON BEHALF OF THE BOARD OF DIRECTORS
GEODEX MINERALS LTD.
Gorden Glenn, Interim President & Chief Executive Officer
Visit our website at www.geodexminerals.com
Forward-Looking Statements
The Statements included in this press release concerning predictions of economic performance and management's plans and objectives constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, opinions, forecasts, projections or other statements that are not statements of fact. Although the Company believes that expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. The Company cautions that actual performance will be affected by a number of factors, many of which are beyond the Company's control, and that future events and results may vary substantially from what the Company currently foresees.
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.
