Business
Default Status Report Pursuant to CSA Staff Notice 57-301
Default Status Report Pursuant to CSA Staff Notice 57-301.
About this update from Dfr Gold Inc
[{"type":"text","content":"\n\n\n\n\nSYMBOL: DFI\n\nCAPE TOWN, South Africa, Oct. 26 /CNW/ - Diamond Fields International\nLtd. (DFI:TSX) (\"DFI\" or the \"Company\") is filing this Default Status Report\npursuant to CSA Staff Notice 57-301 Failure to File Financial Statements on\nTime - Management Cease Trade Orders (\"57-301\") in respect of the Company's\ninability to file its annual audited financial statements for the year ended\nJune 30, 2006 (the \"Annual Financial Statements\") by the deadline of September\n28, 2006 as required by National Instrument 51-102 Continuous Disclosure\nObligations. Further to the Company's application under 57-301, on September\n29, 2006 and October 3, 2006, the British Columbia Securities Commission and\nthe Ontario Securities Commission, respectively, issued cease trade orders\n(the \"Management Cease Trade Orders\") restricting trading in the Company's\nsecurities by specified insiders of the Company until the Company files the\nAnnual Financial Statements and related annual filings. This Default Status\nReport is being filed to update the Company's Notice of Default dated\nSeptember 29, 2006 (the \"Notice of Default\") and the Company's subsequent\nDefault Status Report dated October 12, 2006 (the \"First Default Status\nReport\"), as required by 57-301.\nAs a result of the factors noted in the Notice of Default, the Company\nhas been unable to complete the Annual Financial Statements and related annual\nfilings by the previously anticipated target date of October 20, 2006\nindicated in the First Default Status Report, and now plans to file the Annual\nFinancial Statements and related annual filings on October 27, 2006. As a\nresult of the delays in completing the Annual Financial Statements, the\nCompany continues to anticipate a delay in filing its interim financial\nstatements for the three-months ended September 30, 2006 (the \"Interim\nFinancial Statements\") which are due by November 14, 2006. The Company has\nbeen advised by the British Columbia Securities Commission that, as a result\nof the anticipated delay in filing the Interim Financial Statements, the\nManagement Cease Trade Orders will not be revoked until after the Annual\nFinancial Statements and the Interim Financial Statements have been filed by\nthe Company. Accordingly, the Company's previously announced proposed rights\noffering is not permitted...