DOT Provides Progress Report on Audit Status
17 May 2014 - 6:01AM
Marketwired
DOT Provides Progress Report on Audit Status
CALGARY, ALBERTA--(Marketwired - May 16, 2014) - DOT Resources
Ltd. (TSX-VENTURE:DOT) ("DOT" or the "Corporation") is providing
this bi-weekly Default Status Report in accordance with National
Policy 12-203 - Cease Trade Orders for Continuous Disclosure
Defaults ("NP 12-203"). On April 11, 2014, the Corporation
announced (the "Default Notice") that it expected there would be a
delay in filing its 2013 annual audited financial statements,
management's discussion and analysis and CEO and CFO certificates
(collectively, the "2013 Annual Audited Financial Statements")
within the 120 day period prescribed for the filing of such
documents for reasons disclosed within that announcement.
In accordance with NP 12-203, and as previously announced, the
Corporation applied to the Alberta Securities Commission ("ASC")
for a Management Cease Trade Order ("MCTO") related to the
Corporation's common shares to be imposed against certain
Corporation executives instead of a general cease trade order being
imposed against all the securities of the Corporation. On May 2,
2014, the ASC issued a temporary MCTO.
DOT is currently preparing its 2013 Annual Audited Financial
Statements for audit, and the Corporation expects to file these
statements on or before June 30, 2014. Until these statements are
filed, DOT intends to continue to satisfy the requirements of
Section 4.4 of National Policy 12-203 - Alternative Information
Guidelines ("AIG") by issuing bi-weekly Default Status Reports,
each of which will be issued in the form of a news release.
Pursuant to the requirements of AIG, the Corporation reports
that since the issuance of the Default Notice, there have not been
any material changes to the information provided therein other than
as described herein nor has there been any failure by the
Corporation in fulfilling its stated intentions with respect to
satisfying the AIG. In addition, there has not been any other
specified default by the Corporation under NP 12-203 nor are any
anticipated and there is no other material information concerning
the affairs of the Corporation that has not been generally
disclosed.
ABOUT DOT
DOT is a Canadian corporation focused on exploration and
development of its copper properties in central British Columbia.
DOT shares trades on the TSX Venture Exchange under the symbol DOT.
The Corporation's website can be accessed at
www.dotresourcesltd.com.
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.
Forward-Looking Statements
Certain statements contained in this release constitute
"forward-looking statements". These statements relate to future
events or future performance. The use of any of the words "could",
"intend", "expect", "believe", "will", "projected", "estimated" and
similar expressions and statements relating to matters that are not
historical facts are intended to identify forward-looking
information and are based on the Corporation's current belief or
assumptions as to the outcome and timing of such future events.
Actual future results may differ materially. In particular, this
release contains forward looking statements relating to the audit
and filing of the 2013 Annual Audited Financial Statements. Various
assumptions or factors are typically applied in drawing conclusions
or making the forecasts or projections set out in forward looking
statements. Those assumptions and factors are based on information
currently available to the Corporation. The material factors and
assumptions with respect to the audit and filing of the 2013 Annual
Audited Financial Statements include the auditors not encountering
anything out of the ordinary that would cause the auditors not to
be able to complete the audit as anticipated. Risk Factors that
could cause actual results or outcomes to differ materially from
the results expressed or implied by forward looking statements
include, among other things: general economic and business
conditions, and political and social risks. Forward-looking
statements contained in this release are made based on Management's
beliefs, estimates and opinions on the date the statements are made
and the Corporation undertakes no obligation to update forward
looking statements and if these beliefs, estimates and opinions or
other circumstances should change, except as required by applicable
law. Because of the risks, uncertainties and assumptions contained
herein, investors should not place undue reliance on forward
looking statements. The forward looking statements contained herein
are expressly qualified by this cautionary statement.
DOT Resources Ltd.Ihor P. WasylkiwVP & Chief Information
Officer+1 (403) 264-2647DOT Resources Ltd.Donald D. McKechnieVP
Finance & Chief Financial Officer+1 (403) 264-2647+1 (403)
228-2865
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