Business
First Narrows Provides Update on Corporate Matters
First Narrows Provides Update on Corporate Matters
About this update from Northern Uranium Corp.
[{"type":"text","content":"\nFirst Narrows Provides Update on Corporate Matters\n\n\n Jul. 27, 2009 (Filing Services Canada) -- First Narrows Resources Corp. (UNO - TSX Venture, FNRWF - OTCBB_Pink_Sheets), announces that it is late in filing its annual financial statements for the year ended March 31, 2009. The annual financial statements are required to be filed no later than July 29, 2009. The late filing of the required statements is a result of financial issues of the Company necessitating a change in auditor. Based on the work completed to-date, the Company anticipates that the annual financial statements will be filed by August 31, 2009.As a result in the delay in filing, the Company has requested that the British Columbia Securities Commission and other Canadian securities regulatory authorities issue a temporary order that prohibits certain current and former directors, officers and insiders of the Company from trading in securities of the Company for so long as the annual financial statements are not filed. The issuance of such cease trade order does generally not affect the ability of persons who have not been directors, officers or insiders of the Company to trade in their securities.The Company intends to provide information in accordance with National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults with respect to further developments in respect of this matter promptly following their occurrence, including the issuance of bi-weekly status update reports for so long as the annual financial statements are not filed. In the event that the annual financial statements are not filed by August 31, 2009 or bi-weekly status update reports are not filed on a timely basis, the Canadian securities regulatory authorities may impose an issuer cease trade order on the outstanding securities of the Company.Deloite & Touche, LLP, Chartered Accountants (the \"Former Auditors\") have resigned as auditors of the Company, effective July 21, 2009. Accordingly, the board of directors have appointed I. Vellmer Inc., Chartered Accountant, (the \"Successor Auditor\") of Vancouver, BC as Auditor for the Company.There were no reservations in the Former Auditors' reports for the two most recently-completed fiscal years or for any period subsequent to the most recently-completed period for which an audit report was issued and preceding the date of th...