GREY:MAAFF - Post by User
Post by
deliceon Jun 05, 2015 12:25pm
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Post# 23801062
Letter from Rich Morrow
Letter from Rich Morrow Dear Ms......,
The Cease Trade Order which suspends trading in our shares was made by the Ontario Securities Commission (OSC) not by the company. The OSC makes decisions of this nature when they deem that the public does not have adequate information to make informed investment decisions. The missing information in this case is our audited financial statements for 2014 and related management certificates. The corruption investigation is ongoing and this is affecting our ability to finalize the 2014 audit. The intention of the company is to have an audit completed as soon as possible and hence to comply with our reporting requirements as a listed company. We believe that then, on that basis, the OSC would rescind the cease trade order. MagIndustries is not bankrupt which would be a reportable event of which the public would be immediately informed.
We believe that the Mengo project is fully and accurately described in our previous disclosures.
Best regards,
Rich Morrow
MagIndustries
Director of Investor Relations and Corporate Development
Office: 416 368-7911 x255
Cell: 416 258-0829