Business
Virgin announces the TSX is conducting a Remedial Review Process of its common shares and it has engaged Haywood Securities to advise on strategic alternatives
TSX Symbol: VGM Shares Outstanding: 87,881,246
About this update from Minera Alamos Inc.
[{"type":"text","content":"\n\n\n\nTSX\n\n\nSymbol: VGM\n\n\nShares Outstanding: 87,881,246\n\n\nTORONTO, April 2 /CNW Telbec/ - Virgin Metals Inc. ("Virgin Metals" or\n"The Company") announces that it has received notice from the Toronto Stock\nExchange that the Exchange is reviewing the common shares of the Company with\nrespect to meeting the continued listing requirements of the Exchange. The\nCompany has been granted 210 days in which to regain compliance with these\nrequirements, pursuant to the Remedial Review Process. The TSX requires a\nminimum market value of listed securities of three million dollars and a\nmarket value of publicly held securities of two million dollars for 30\nconsecutive days over the next 210 days to comply with the requirements for\ncontinued listing.\n\n\nThe Company has engaged Haywood Securities Inc. to seek and advise on\npotential transactions that will enable progress to be maintained on the\nCompany's projects, including possible business combinations and/or the sale\nof the Company.\n\n\nAbout Virgin Metals\n\n\nVirgin Metals is a junior exploration and development company; its\nprojects include two copper-molybdenum porphyry properties in Sonora, northern\nMexico. One of these, Los Verdes, has been the subject of a prefeasibility\nstudy and is expected to evolve rapidly towards production while the other,\nCuatro Hermanos, has been the focus of an intense exploration effort\ndemonstrating a substantial resource of copper and molybdenum mineralization.\n\n\nFORWARD-LOOKING STATEMENTS\n\n\nThis press release includes certain "forward-looking information" within\nthe meaning of applicable securities laws, including, but not limited to the\nfollowing: the continued trading of the Company's common shares on the TSX;\npotential transactions involving the Company and/or its assets; statements as\nto estimated reserves and resources of the Los Verdes project; assumptions\nregarding development of a mine at Los Verdes; the timing of mining and\nprocessing operations at Los Verdes; and, statements as to estimated resources\nof the Cuatro Hermanos project. This forward-looking information addresses\nfuture events and conditions and so involves inherent risks and uncertainties,\nas disclosed under the heading "Risk Factors" and elsewhere in Virgin Metals\ndocuments filed from time to tim...