Affinity Gold Corp. Addresses Its Recent Change in OTCMarkets.com Listing Status
05 November 2013 - 1:15AM
Marketwired
Affinity Gold Corp. Addresses Its Recent Change in OTCMarkets.com
Listing Status
MAPLE GROVE, MN--(Marketwired - Nov 4, 2013) - Affinity
Gold Corp. (OTC Pink: AFYG) ("Affinity" or "the Company") CEO Mr.
Corey J. Sandberg issued the following statement today concerning
the listing status of the company. Mr. Sandberg stated, "The
Company received the following communication from OTC Markets
regarding its listing status. In addition, the Company has been in
communication since last Friday with OTC Markets regarding the
communication and is addressing immediately."
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Dear Affinity Gold Corp.,
Your company has been labeled with Caveat Emptor at
http://www.otcmarkets.com/stock/AFYG/company-info as a warning to
investors for the following reason:
Public Interest Concern -- There is unusual or unexplained
trading activity in your security and there is no adequate current
information available for investors.
The Caveat Emptor symbol (a Skull and Crossbones icon) will
remain on the company profile until the company qualifies for
either OTC Pink Current Information or OTCQB, and until OTC Market
Group believes there is no longer a public interest
concern.
Companies can qualify for OTC Pink Current Information or
OTCQB by doing the following:
SEC Reporting companies must be current in their
reporting obligations to the SEC through the EDGAR system.
Non-SEC Reporting companies must use the OTC
Disclosure & News Service to make adequate current information
available pursuant to the OTC Pink Basic Disclosure Guidelines and
publish an Attorney Letter pursuant to the Attorney Letter
Guidelines.
During the time it is labeled Caveat Emptor; quotations will
not be published on otcmarkets.com for any security that is not in
OTC Pink Current Information or OTCQB.
If you need further information, contact Issuer Services at
issuers@otcmarkets.com or (212) 896-4420.
Thank you,
Issuer Services OTC MARKETS 304 Hudson Street 3rd Floor
New York, NY 10013-1015 T +1 (212) 896-4420 | F +1 (212)
652-5920
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The Company and its legal counsel will continue to be in
constant communication with OTC Markets beginning this morning to
immediately address the Company's current status so it may resume
being quoted for our shareholders and the investment community.
The Company has been in communication with OTC Markets since
early September to provide updated information and verify the
Company's profile which was completed on September 19th, 2013 per
OTC Markets' formal process. The information the Company
provided on September 19th is still accurate today.
Furthermore, the Company has been in communication since early
September with the SEC Division of Corporation Finance's Office of
Chief Accountant ("CFOCA") to determine how best to proceed with
becoming current in its regulatory filing
requirements. According to the CFOCA, since the Company is a
15(d) company it qualifies for an allowance permitting it to file a
comprehensive 10-K covering the reporting periods since becoming
delinquent, as opposed to having to file each K and Q during the
same period. The Company will continue to work with the CFOCA
and other divisions of the SEC to comply with its regulatory
requirements as a reporting issuer until it has accomplished this
objective and maintains good standing.
"The Company's reporting status has been a known issue since it
became delinquent due to circumstances surrounding its previous
auditor. Until late August of this year, we've had to focus
more on the fundamentals of the company and had not been able to
address its regulatory status due to limited resources and
capacity. Since early September that has not been the case and
the Company is now making progress towards the objective of
becoming current, as well as others. As previously stated in
our September 26th news release, we fully intend to accomplish the
objective of becoming current in its filings by the end of Q1,
2014," stated Mr. Sandberg.
"As challenging as it may be, this continues to be an exciting
time for Affinity. I firmly believe that as we continue to
share our story and progress against our objectives towards
becoming a regulatory compliant gold and silver Producer that we
will see additional market interest and support," stated Mr.
Sandberg.
Mr. Sandberg went on to say, "This temporary change in status
with OTC Markets is of no reflection of the Company's vision and
potential. The SEC and OTC Markets have their requirements to
be met and it's the Company's responsibility to do so in a timely
manner, period. We will continue to work with both the SEC and
OTC Markets to fully meet and maintain its regulatory obligations
and maximize the benefits and support each offers to fully
reporting and compliant public companies."
About Affinity Gold Corp.: Affinity Gold Corp. is a mineral
exploration and development company engaged in the acquisition and
development of near-term precious mineral production properties
within Peru. Affinity Gold Corp.'s primary focus is on developing
assets that have demonstrated historical production, contain
documented and reliable data and can reasonably begin producing
within 12-18 months at a cost of less than $900 per gold equivalent
ounce.
www.affinitygold.com
For further information please refer to the Company's
filings with the SEC on EDGAR available at
www.sec.gov
FORWARD-LOOKING STATEMENTS This news release may include
"forward-looking statements" regarding Affinity Gold Corp., and its
subsidiaries, business and project plans. Such forward-looking
statements are within the meaning of Section 27A of the Securities
Act of 1933, as amended, and section 21E of the United States
Securities and Exchange Act of 1934, as amended, and are intended
to be covered by the safe harbor created by such sections. Where
Affinity Gold Corp. expresses or implies an expectation or belief
as to future events or results, such expectation or belief is
believed to have a reasonable basis. However, forward-looking
statements are subject to risks, uncertainties and other factors,
which could cause actual results to differ materially from future
results expressed, projected or implied by such forward-looking
statements. Affinity Gold Corp. does not undertake any obligation
to update any forward-looking statement, except as required under
applicable law.
CONTACT: AFFINITY GOLD CORP. Corey J. Sandberg 763-424-4754
csandberg@affinitygold.com
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