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TORONTO, ONTARIO–(Marketwired – Feb. 13, 2015) – Corona Gold Corporation (TSX:CRG) (“Corona” or the “Company“), announces that the Company has applied for the voluntary delisting of its common shares from the Toronto Stock Exchange (“TSX“). It is expected that the common shares will be delisted from the TSX at the close of trading on or about March 27, 2015.
The TSX has advised the Company that it believes that a change in business has occurred as a result of Corona’s level of current business operations as a resource issuer. As a result of such determination, the Company would be required to meet the TSX’s original listing requirements in another eligible category. In light of the discussions with the TSX, the Company has elected, on the recommendation of its Board of Directors, to voluntarily delist from the TSX and seek a listing on the Canadian Securities Exchange (the “CSE“). The Company intends to submit a formal application to list its common shares on the CSE as soon as practicable. A listing on the CSE should ensure continued and seamless trading liquidity for the Company’s shareholders. Based on preliminary discussions with the CSE, the Company expects its shares to begin to trade on the CSE on or about March 30, 2015, immediately after its delisting on the TSX. The Company notes that a stock exchange listing on the CSE, rather than the TSX Venture Exchange, will provide greater operational efficiency and lower compliance costs for the Company, while allowing shareholders continued liquidity on a recognized exchange.
Forward-Looking Information:
This press release contains certain “forward-looking information”. All statements, other than statements of historical fact, that address activities, events or developments that Corona believes, expects or anticipates will or may occur in the future (including, without limitation, statements relating to the Company’s expected timing relating to its delisting on the TSX and listing on the CSE) constitute forward-looking information. This forward-looking information reflects the current expectations or beliefs of Corona based on information currently available to Corona as well as certain assumptions including, without limitation, assumptions as its ability to complete its delisting on the TSX and listing on the CSE, in a timely manner in order to achieve continued uninterrupted trading of its common shares. Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of Corona 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 Corona. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, the failure of the Company to achieve its delisting and concurrent listing in a timely and economic manner.
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, Corona 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 Corona 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.
