Farallon Files to Deregister from the SEC in the USA and Changes its Fiscal Year End

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[{"type":"text","content":"\n\n\n\nVANCOUVER, Oct. 31 /CNW/ - Farallon Resources Ltd. (TSX: FAN) ("Farallon"\nor the "Company") announces that it has filed today a Form 15F with the U.S.\nSecurities and Exchange Commission (the "SEC") with the intention of\nvoluntarily terminating the registration of its common shares under section\n12(g) of the Securities Exchange Act of 1934 (the "Exchange Act"). Farallon\nexpects that this termination of registration will become effective 90 days\nafter its filing with the SEC. As a result of this filing, Farallon's\nreporting obligations with the SEC, including its obligations to file annual\nreports on Form 20-F and reports on Form 6-K, will immediately be suspended.\nThe Company's shares will no longer be quoted in the United States on the\nOver-the-Counter Bulletin Board under the symbol 'FRLLF' once the termination\nof registration is effective.\n\n\nFarallon will continue to comply with its Canadian continuous disclosure\nobligations by making filings with the applicable Canadian securities\nregulators via the System for Electronic Document Analysis and Retrieval\n(SEDAR) at www.sedar.com. These continuous disclosure filings will include the\nCompany's consolidated financial statements prepared in accordance with\nCanadian generally accepted accounting principles and technical reports on its\nmineral properties prepared in accordance with Canadian National Instrument\n43-101. Farallon's common shares will continue to trade in Canada on the TSX\nunder the symbol "FAN".\n\n\nFarallon is current with all reporting requirements under the Exchange\nAct and is not listed on any U.S. exchange. In determining to terminate the\nregistration of its common shares under the Exchange Act, Farallon considered\nthat administrative burdens and costs associated with being a U.S. reporting\ncompany have significantly increased in the past few years, particularly in\nlight of SEC Sarbanes-Oxley requirements. The preparation time and costs\nassociated with preparing U.S. filings and meeting SEC regulatory requirements\nare substantial, and overall the Company's management believes that these\nadministrative burdens and their associated costs far outweigh any benefits\nderived from the Company's registration with the SEC.\n\n\nThe Company also announces that it will change its fiscal ...

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