TORONTO, April 29, 2015 /CNW/ - Atlanta Gold Inc.
(TSXV: ATG; OTC Pink: ATLDF) announced that the filing of its
annual financial statements for the year ended December 31, 2014 and the accompanying
management's discussion and analysis and related CEO and CFO
certifications, will not be completed by the required filing
deadline of April 30, 2015. The
delay is due to a lack of funds to remunerate the Company's auditor
for previous services.
The Company is continuing discussions with certain potential
investors regarding financing that when and if completed, will be
sufficient for, among other things, the Company to satisfy its
commitment to the auditor. The Company anticipates being able to
complete its annual filings within 4 to 6 weeks. While the Company
expects to complete one or more financing transactions in the near
term, there can be no assurance that such transactions will be
completed on a timely basis or at all.
The Company has applied to the applicable securities regulatory
authorities for the imposition of a management cease trade order to
prohibit trading by management of the Company in the securities of
the Company for so long as the default continues and the order
remains in effect. If such an order is issued by the
securities regulatory authorities, it would be in lieu of a general
cease trade order. The Company intends to satisfy the
provisions of the alternative information guidelines of National
Policy 12-203 -Cease Trade Orders for Continuous Disclosure
Defaults.
About the Company
Atlanta Gold Inc. holds through its 100% owned
subsidiary, Atlanta Gold Corporation, leases, options or ownership
interests in its Atlanta
properties which comprise approximately 2,159 acres (8.74 square
kilometres) located 90 air kilometers east of Boise, in Elmore
County, Idaho. A long history of mining makes Atlanta very suitable for development of new
mining projects. The Company is focused on advancing its core
asset, Atlanta, towards mine
development and production.
The Company is also focused on advancing its exploration and
processing methods on the Neal Property, which is located
approximately 15 miles from Boise,
Idaho and comprises approximately 192 acres (0.78 square
kilometres). The Neal Property's geology is similar to that of the
Atlanta Project and it provides the Company with all-season access
to further refine the processing equipment and procedures. In
June 2014, Knife River assigned
certain of its rights and obligations under its lease with the
owner of the Neal Property to AGC. AGC staked an additional seven
contiguous claims on public land that was open to mineral
entry.
Forward-Looking Information
This news release contains forward-looking information and
forward-looking statements (collectively "forward-looking
statements") within the meaning of applicable securities laws with
respect to the completion of additional financings, the time
necessary to complete and the completion of the filing of its
annual financial statements and related documentation and the
issuance of a management cease trade order. Such are based
upon various assumptions and other factors that management believes
to be reasonable, including that the Company will reach agreement
with potential investors on a timely basis. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause our actual results to differ materially from
those expressed or implied by the forward-looking statements.
Risks and uncertainties that may cause actual results to vary
include the ability to conclude in a timely manner a financing on
terms acceptable to the Company; fluctuations in the gold price and
currency exchange rates; changes in general economic conditions and
in the financial markets; as well as other risks and uncertainties
which are more fully described in the Company's annual and interim
management's discussion and analysis and other filings by the
Company with the securities regulatory authorities, which are
available under the Company's profile at www.sedar.com.
Should one or more risks and uncertainties materialize or should
any assumptions prove incorrect, then actual results could vary
materially from those expressed or implied by the forward-looking
statements and accordingly, readers should not place undue reliance
on the forward-looking statements. Readers are cautioned that
the foregoing lists of risks, uncertainties, assumptions and other
factors are not exhaustive. The forward-looking statements
contained herein are made as of the date hereof and the Company
undertakes no obligation to update publicly or revise any
forward-looking statements contained herein or in any other
documents filed with securities regulatory authorities, whether as
a result of new information, future events or otherwise, except in
accordance with applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
SOURCE Atlanta Gold Inc.