Roxgold Announces Change in Financial Year-End
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct 17, 2012) - Roxgold Inc. ("Roxgold" or "the Company") (TSX VENTURE:ROG) wishes to announce that, effective in 2012, its financial year-end will be changed from October 31 to December 31 to align the year-ends of Roxgold and its operating subsidiary located in Burkina Faso. Management anticipates this will simplify accounting and reduce costs. To facilitate the change, Roxgold will report a, one-time, fourteen month transition year covering the months of November 2011 to December 2012. Subsequent to the transition year Roxgold''s first full financial year will cover the period January 1, 2013 to December 31, 2013.
During the transition year Roxgold will file interim financial statements for the interim periods ending January 31, April 30, July 31 and October 31, 2012, which will include the statement of financial position as of October 31, 2011 and November 1, 2010 and the financial statements for the corresponding periods ending January 31, April 30, July 31 and October 31, 2011, for comparison purposes. Year-end financial statements will be filed for the fourteen month period ending December 31, 2012 and these will be compared to the financial statements for the year ending October 31, 2011.
During its new financial year Roxgold will file interim financial statements (with comparative three month periods) covering the three months ended March 31, 2013 (April 30, 2012), June 30, 2013 (July 31, 2012), and September 30, 2013 (October 31, 2012). Annual statements will be filed for the new financial year ending December 31, 2013 with comparative statements from the previous fourteen month financial year ending December 31, 2012.
As prescribed in NI 51-102 Continuous Disclosure Obligations section 4.2(b)(i) the filing deadline for the annual financial statements will be on or before the 120th day after the end of the most recently completed financial year. The filing deadline for the interim financial statements will be as prescribed in NI 51-102 section 4.4(b)(i) on or before the 60th day after the end of the interim period.
ON BEHALF OF ROXGOLD INC.
Wayne Moorhouse, Chief Financial Officer
This news release may contain forward-looking statements. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management''s expectations. Forward-looking statements include estimates and statements that describe the Company''s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to such future events and conditions could differ materially from those currently anticipated in such statements for many reasons such as: changes in management, changes in general economic conditions and conditions in the financial markets; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company''s forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company''s forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
