Kirrin Resources Inc KIRRF

Kirrin Resources to Suspend Activities; Directors

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Kirrin Resources Inc.

TSX VENTURE : KYM

February 27, 2013 09:00 ET

Kirrin Resources to Suspend Activities; Directors to Resign

 

 

CALGARY, ALBERTA--(Marketwire - Feb. 27, 2013) - Kirrin Resources Inc. (TSX VENTURE:KYM) announces that effective today it has discontinued operational activities. Kirrin has previously reported in its filings on the results and follow up activities undertaken following an internal review of, among other things, Kirrin's position in the capital markets, its industry sector, its portfolio and Kirrin's strategic alternatives generally. Since then, a number of new projects, particularly those at an advanced stage of development, were reviewed. This assessment process was limited to neither small scale projects, nor the uranium and REE sectors, nor Canada. Efforts by Kirrin's Directors and officers to engage new projects and investors as well as to monetize existing projects have not proved successful. Kirrin is no longer able to incur liabilities with reasonable certainty of meeting those liabilities.

As a result of this decision, all of Kirrin's directors and officers intend to resign their positions within the next two weeks. The Company will issue a news release at the time of these resignations and, once these resignations become effective, Kirrin will no longer meet the requirements of Exchange Policy 3.1 and trading in the Company's shares will be suspended.

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.