Bedford, Nova Scotia (FSCwire) - NSX Silver Inc. (TSXV:NSY) (“NSX Silver” or the “Company”) announces that it will not file its annual financial statements for the fiscal year ended December 31, 2015 and the related management’s discussion and analysis by the legal deadline of April 29, 2016. NSX Silver has made an application to the provincial securities commissions under National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults requesting that a management cease-trade order be imposed in respect of the late filing, rather than a cease-trade order against all of NSX Silver’s shareholders. NSX Silver’s failure to file its audited financial statements by the prescribed deadline is due to NSX Silver making the necessary arrangements to complete the audit.
Should NSX Silver fail to file the appropriate Default Status Report as prescribed by National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults, the securities commissions or regulators may as a result impose an issuer cease-trade order against all shareholders of NSX Silver. NSX Silver expects to file its audited financial statements for the fiscal year ended December 31, 2015 and the related management’s discussion and analysis by May 31, 2016. NSX Silver confirms that it intends to provide Default Status Reports for so long as it is in default of its requirement to file the annual financial statements.
NSX Silver also confirms that, at the date hereof, there are no insolvency proceedings against it and no other material information concerning the affairs of NSX Silver that has not been generally disclosed.
NSX Silver also announces that James D. Nicoll has been appointed to the Company’s Board of Directors subject to TSX Venture Exchange approval. Mr. Nicoll is CEO of Canasur Gold Ltd., a gold exploration company. He was previously CEO of a real estate company with a portfolio of multi-family residential properties in the United States and prior to that spent ten years with PricewaterhouseCoopers LLP as a VP in the corporate finance practice. Mr. Nicoll also worked with Yorkton Securities in public company finance and is a past Commissioner of the Nova Scotia Securities Commission.
For further information, please contact:
Glenn A. Holmes
Chief Financial Officer, NSX Silver Inc.
(902) 798-1148
glenn.holmes@nsxsilver.com
Neither 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
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/nsxsilver04282016.pdfSource: NSX Silver Inc. (TSX Venture:NSY) http://nsxsilver.com/
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