00:15:57 EDT Mon 25 Jun 2018
Enter Symbol
or Name

Mountain-West Resources Inc
Symbol C : MWR
Shares Issued 48,614,341
Close 2011-04-15 C$ 0.75
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Mountain-West faces more delay in filing financials

2011-05-13 20:35 ET - News Release

Mr. Brent Johnson reports


Mountain-West Resources Inc. is providing this biweekly default status report in accordance with National Policy 12-203 (cease trade orders for continuous disclosure defaults). On April 7, 2011, the issuer announced that there would be a delay in filing its unaudited interim financial statements for the nine-month period ended Jan. 31, 2011, together with the related management's discussion and analysis and certifications by the chief executive officer and chief financial officer. Under National Instrument 51-102 of the Canadian Securities Administrators, the required records should have been filed not later than April 1, 2011.

As a result of this delay in filing, on April 8, 2011, the B.C. Securities Commission, the principal regulator of the issuer, issued a temporary management cease trade order, which imposed restrictions on all trading in and all acquisitions of securities of the issuer, whether direct or indirect, by the chief executive officer and the chief financial officer, until the required records have been filed with the securities regulatory authorities and a revocation order issued.

The issuer expects to file the required records on or before May 31, 2011. Until the required records are filed, the issuer intends to continue to satisfy the requirements of the alternative information guidelines specified in Section 4.4 of NP 12-203 by issuing biweekly default status reports, each of which will be issued in the form of a news release. The issuer intends to file, if required, its next default status report by May 25, 2011.

This news release is the second biweekly default status report under NP 12-203. Since announcing the original default notice on April 7, 2011, and filing its first default status report on April 27, 2011, there have not been any material changes to the information contained therein, nor any failure by the company to fulfill its intentions stated therein, and there are no additional defaults or anticipated defaults subsequent thereto, and there is no other material information concerning the affairs of the issuer that have not been generally disclosed.

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