Toronto, Ontario / TheNewswire / April 20, 2016 – Red Tiger Mining Inc. (TSXV: RMN) ("Red Tiger" or the "Company") announces that it will be unable to file by April 29, 2016 its annual audited consolidated financial statements and Management Discussion & Analysis ("MD&A") for the Company's financial year ended December 31, 2015, as required by National Instrument 51-102 – Continuous Disclosure Obligations and the related CEO and CFO certifications (the "Certifications") required pursuant to National Instrument 52-109 – Certification of Disclosure in Issuer's Annual and Interim Filings.
The delay is due to internal accounting staff and external auditor transition. The Company is working with its auditors to complete the audit of the Company's consolidated financial statements for the year ended December 31, 2015 as soon as possible and anticipates filing such financial statements, MD&A and related Certifications by the end of May, 2016.
Accordingly, the Company proposes to apply for a management cease trade order effective April 29, 2016 preventing all insiders of the Company from trading, directly or indirectly, in the securities of the Company, which will remain in place until the above-noted documentation has been filed, in accordance with the provisions of National Policy 12-203 – Cease Trade Orders for Continuous Disclosure Defaults ("NP-12-203"). Until its annual consolidated financial statements, MD&A and related Certifications are filed, the Company intends to satisfy the provisions of the Alternative Information Guidelines set out in NP-12-203 and will issue bi-weekly updates via news release.
There is no other material information concerning the affairs of the Company that has not been generally disclosed.
About Red Tiger Mining
Red Tiger is engaged in copper cathode production, and in the exploration and development of copper and gold projects through its wholly-owned subsidiary, Minerales Libertad, S.A. de C.V. ("Minerales") at San Antonio de la Huerta, in the state of Sonora, Mexico.
On July 1, 2013, Minerales placed the Luz del Cobre Copper Project, an open-pit, heap leach, copper recovery operation into commercial production. The Company has other prospects on its over eleven thousand-hectare concession at various stages of exploration, and is potentially a gold producer in the mid-term.
Red Tiger is listed on the TSX Venture Exchange (symbol "RMN"). The number of shares outstanding is 144,446,957.
For further information, please contact:
Red Tiger Mining Inc.
The Exchange Tower, 130 King Street West, Suite 2500, M5X 2A2
CEO & CFO
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.
This press release contains certain "forward-looking information". All statements, other than statements of historical fact, that address activities, events or developments that Red Tiger believes, expects or anticipates will or may occur in the future (including, without limitation, statements relating to the completion and filing of its annual financial statements, MD&A and Certification constitute forward-looking information). This forward-looking information reflects the current expectations or beliefs of Red Tiger based on information currently available to Red Tiger as well as certain assumptions including the completion and filing of its annual financial statements, MD&A and Certification. Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of Red Tiger to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on Red Tiger.
Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Red Tiger disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although Red Tiger believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.