Dec. 8, 2010 (TheNewswire.ca) --
Panthera Exploration Inc. (TSX-V: PNX, OTCBB: PNXLF, FRA: GAC, WKN: A0RK7E, "Panthera" or "the Company") today announces that it has filed a Form 15F with the U.S. Securities and Exchange Commission (the "SEC") with the intention of voluntarily terminating the registration of its common shares under section 12(g) of the Securities Exchange Act of 1934 (the "Exchange Act"). Panthera expects that this termination of registration will become effective 90 days after its filing with the SEC. As a result of this filing, Panthera's reporting obligations with the SEC, including its obligations to file annual reports on Form 20-F and reports on Form 6-K, will immediately be suspended.
Panthera will continue to comply with its Canadian continuous disclosure obligations by making filings with the applicable Canadian securities regulators via the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com. Panthera's common shares will continue to be listed and trade in Canada, in Canadian dollars, on the TSX Venture Exchange under the symbol "PNX".
Panthera is current with its reporting requirements under the Exchange Act.
In determining to terminate the registration of its common shares under the Exchange Act, the Company considered that administrative burdens and costs associated with being a U.S. reporting company have significantly increased in the past few years, particularly in light of new requirements introduced pursuant to the Sarbanes-Oxley Act of 2002. The time and costs associated with preparing U.S. filings and meeting SEC regulatory requirements are substantial, and overall the Company's management believes that these administrative burdens and their associated costs far outweigh the benefits derived from the Company's registration with the SEC.
About Panthera Exploration Inc. (OOTC:PNXLF) (TSXV:PNX)
Panthera Exploration is a Vancouver-based exploration company listed on the TSX Venture Exchange under the symbol PNX. Management is currently evaluating acquisitions to build its property portfolio. Panthera is a member of the Grosso Group, a management company specializing in resource exploration for over 17 years.
ON BEHALF OF THE BOARD
"Gerald Carlson"
_______________________________
Dr. Gerald Carlson, Interim President & CEO
For further information please contact:
Corporate Communications Tel: 1-604-687-1828 Toll-Free: 1-800-901-0058
Email: info@pantheraexploration.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits (OOTC:MNLDD) (TSX:MDM) on adjacent properties are not indicative of mineral deposits on our properties.
2010
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