Toronto Stock Exchange: VG
VANCOUVER, March 31, 2014 /PRNewswire/ - Veris Gold Corp. ("Veris" or the "Company") (TSX: VG) (OTCQB: YNGFF)
(Frankfurt Xetra Exchange: NG6A) announces that, because of delays in completing its audited financial
statements to December 31, 2013, the Company has applied for, and has
been granted, a Management Cease Trade Order by the British Columbia
Securities Commission. Because of the delays, the Company will file
its annual audited financial statements, management's discussion and
analysis, annual information form and CEO and CFO certificates
(collectively, the "2013 Annual Audited Financial Statements") after the filing deadline of March 31, 2014 as prescribed by National
Instrument 51-102 - Continuous Disclosure Obligations ("NI 51-102"). The audit is now nearing completion and the Company anticipates the
filing of the 2013 Annual Audited Financial Statements on or before
April 10, 2014. The Company confirms that there are no insolvency
proceedings against it as at the date of this news release. The
Company further confirms that there is no other material information
concerning the affairs of the Company that has not been generally
disclosed as at the date hereof.
Until the Company completes the filing of the 2013 Annual Audited
Financial Statements, Veris will comply with the alternative
information guidelines set out in National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults for issuers who have failed to comply with a specified continuous
disclosure requirement within the times prescribed by applicable
securities laws. The guidelines, among other things, require Veris to
issue bi-weekly default status reports by way of a news release so long
as the 2013 Annual Audited Financial Statements have not been filed.
During the currency of the management cease trade order, the general
investing public will continue to be able to trade in the Company's
listed common shares, however, the Company's Chief Executive Officer,
Chief Financial Officer and such other directors, officers and persons
as determined by the applicable regulatory authorities, will not be
able to trade Veris shares.
About Veris Gold Corp.
Veris Gold Corp. is a growing mid-tier North American gold producer in
the business of developing and operating gold mines in geo-politically
stable jurisdictions. The Company's primary assets are the permitted
and operating Jerritt Canyon processing plant and gold mines located 50
miles north of Elko, Nevada, USA. The Company's primary focus is on
the re-development of the Jerritt Canyon mining and processing plant.
The Company also holds a portfolio of precious metals properties in
British Columbia and the Yukon Territory, Canada, including the Ketza
On behalf of
"VERIS GOLD CORP."
President and CEO
To be added to the Veris Gold e-mail list please sign up at www.verisgold.com.
The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release. All material information may be
accessed at www.sedar.com.
Forward-Looking Statements This news release contains "forward-looking statements" and
"forward-looking information" within the meaning of applicable
securities regulations in Canada and the United States (collectively,
"forward-looking information"). Forward-looking information includes,
but is not limited to, statements with respect to estimated mineral
resources, anticipated effect of the completed drill results on the
operations at Jerritt Canyon, the interpretation of those results, and
timing and expectations of future work programs. Often, but not always,
forward-looking information can be identified by the use of words such
as "plans", "expects, "is expected", "budget", "scheduled",
"estimates", forecasts", "intends", "anticipates", or "believes", "has
the potential" or the negatives thereof or variations of such words and
phrases or statements that certain actions, events or results "may",
"could", "would", "might", or "will" be taken, occur or be achieved.
The forward-looking information contained in this news release is based
on certain assumptions that the Company believes are reasonable,
including, with respect to mineral resource estimates, the key
assumptions and parameters on which such estimates are based, as set
out in this news release and the technical report for the property,
that the current price of and demand for gold will be sustained or will
improve, the supply of gold will remain stable, that the general
business and economic conditions will not change in a material adverse
manner, that financing will be available if and when needed on
reasonable terms and that the Company will not experience any material
accident, labor dispute, or failure of plant or equipment.
However, forward-looking information involves known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking information. Such factors include, among
others, conclusions of economic evaluations, the risk that actual
results of exploration activities will be different than anticipated,
that cost of labour, equipment or materials will increase more than
expected, that the future price of gold will decline, that mineral
resources and reserves are not as estimated, that actual costs or
actual results of reclamation activities are greater than expected;
that changes in operations may result in increased costs, unexpected
variations in mineral resources and reserves, grade or recovery rates,
failure of plant, equipment or processes to operate as anticipated,
accidents, labour disputes and other risks generally associated with
mining. See our Annual Information Form for additional information on
risks, uncertainties and other related factors. Although the Company
has attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-looking
statements, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements. The Company does not undertake to update
any forward-looking statements that are incorporated by reference
herein, except in accordance with applicable securities laws.
SOURCE Veris Gold Corp.