EurOmax financial statements delayed

About this update from Euromax Resources Ltd.

[{"type":"text","content":"\n\n\n\nVANCOUVER, May 5 /CNW/ - EurOmax Resources Limited (TSX-V: EOX) announced\ntoday that is has been delayed in completing its consolidated financial\nstatements as at and for the year ended December 31, 2007 as a result of\nunforeseen complications in the accounts of its Bulgarian subsidiary\ncorporation, and accordingly has been placed on the list of defaulting\nreporting issuers maintained by each of the British Columbia and Alberta\nsecurities commissions.\n\n\nAs part of the audit process, an issue regarding the reconciliation of\ncertain accounts and the accounting methodology of the subsidiary was\nidentified. Management evaluated the problem in consultation with the auditors\nand determined that that it was necessary to revise the accounting to ensure\nthat management could be reasonably assured that it was correct.\n\n\nThis determination was made on April 29, 2008. EurOmax anticipates that\nthe revisions to the accounts of the subsidiary will result in a three week\ndelay in the completion and filing of the audited consolidated financial\nstatements. EurOmax's management and its auditors are making all efforts to\ncomplete the revisions to the accounts and the audit as soon as possible.\n\n\nThe TSX Venture Exchange does not accept responsibility for the adequacy\n\n\nor accuracy of this release.\n\n\nOn Behalf of the Board of Directors\n\n\n"John C. Menzies"\n\n\nChairman and CEO\n\n\n-------------------------------------------------------------------------\n\n\nEurOmax Resources Limited is listed on TSX Venture Exchange Symbol: EOX\n\n\n-------------------------------------------------------------------------\n\n\n","length":1738,"tagName":"div"}]

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