Business
Default Announcement Pursuant to National Policy 12-203
(via Thenewswire.ca) Vancouver, British Columbia / TheNewswire / April 30 , 2016. N...
About this update from Nortec Minerals Corp
[{"type":"text","content":"Default Announcement Pursuant to National Policy 12-203(via Thenewswire.ca)\n \n \nVancouver, British Columbia / TheNewswire / April 30, 2016. Nortec Minerals Corp. (\"Nortec\" or the \"Issuer\") (TSX-V: NVT) announced today that it does not anticipate being in a position to file its audited annual financial statements (the \"Issuer Statements\"), management's discussion and analysis and related certifications for the fiscal year ended December 31, 2015 on or before April 30, 2016, as required, due to the delay in the filing of the financial statements (the \"Finore Statements\") of Finore Mining Inc. (\"Finore\"), a reporting issuer in which the Issuer holds a control position.\n\n\n \nAccordingly, the Issuer has requested the issuance of a management cease trade order under the provisions of National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults (\"NP 12-203\") so as to permit the continued trading in the Issuer's common shares by persons other than insiders and employees of the Issuer. The Issuer has been advised by Finore that the Finore Statements are expected to be completed by May 31, 2016. The British Columbia Securities Commission granted Nortec 60 days from April 30, 2016 to file the audited financial statements for year ended December 31, 2015, and no later than July 4, 2016.\n\n\n \nThe Issuer confirms that it intends to satisfy the provisions of section 4.4 of NP 12-203 and issue bi-weekly default status reports for so long as the Issuer remains in default of the financial statement filing requirement, containing any material changes to the information in this release, all actions taken by the Issuer to remedy the default; particulars of any failure by the Issuer to fulfill these provisions, any subsequent defaults of the Issuer requiring a default announcement and any other material information concerning the affairs of the Issuer not previously disclosed. The Issuer is not subject to any insolvency proceedings nor is there in other material information concerning the affairs of the Issuer that has not been generally disclosed.\n\n\n \nOn behalf of the Board of Directors, \nNORTEC MINERALS CORP. \n\n\n \nMohan R. Vulimiri\nChief Executive Officer \n\n\n \nThe TSX Venture Exchange has not reviewed and does not accept \nresponsibility for the adequacy or accuracy of this news release.\n\n\n \nCe...