GUYANA FRONTIER MINING CORP. ANNOUNCES APPLICATIONS TO PARTIALLY REVOKE CEASE TRADE ORDERS
TORONTO, ON, CANADA, April 15, 2021 /EINPresswire.com/ —
Guyana Frontier Mining Corp. (“Guyana” or the “Company”) is pleased to announce it has applied to partially revoke the cease trade orders (the “CTOs”) issued against the Company by the British Columbia Securities Commission (the “BCSC”) and the Alberta Securities Commission (the “ASC”) on September 8, 2014 and December 9, 2014, respectively. The CTOs were issued due to the Company’s failure to file certain financial disclosure documents in compliance with National Instrument – 51-102 Continuous Disclosure Obligations.
If the BCSC and the ASC partially revoke the CTOs, the Company intends to complete a non-brokered private placement for aggregate gross proceeds of up to $175,000 (the “Private Placement”), through the issuance of 1,750,000,000 common shares in the share capital of the Company (each, a “Common Share” and collectively, the “Common Shares”), at a price of $0.0001 per Common Share. All Common Shares issued pursuant to the Private Placement will be subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation.
ABOUT GUYANA FRONTIER MINING CORP.
The Company is a public mineral exploration company and is focused on the exploration, discovery and development of precious metals deposits within Guyana, South America.
This press release may contain forward-looking statements including, but not limited to, comments regarding the timing and terms of the Private Placement, and statements regarding the BCSC and the ASC granting partial revocation orders to the Company. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statement.
On behalf of the Board of Directors
Chief Executive Officer, Chief Financial Officer and Director
Guyana Frontier Mining Corp.
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Source: EIN Presswire