Nevada Clean Magnesium Reports BCSC Technical Disclosure Review
June 11, 2014 (Source: Accesswire) — Nevada Clean Magnesium, Inc. (TSXV: NVM; Frankfurt-M1V; OTC Pink Sheets: MLYFF) (the “Company” or “Nevada Clean”) reports that it was recently selected by the British Columbia Securities Commission (the “BCSC”) for a technical disclosure review. The purpose of the review is to assess the Company’s disclosure practices and overall level of compliance. The BCSC has advised that the Preliminary Economic Assessment and Technical Report of the Tami-Mosi Magnesium Project dated Septemeber 15, 2011 (the “Technical Report”) does not comply with the requirements of National Instrument 43-101 “Standards of Disclosure for Mineral Projects” in certain areas and as a result the Company hereby advises that readers are cautioned not to rely on the disclosure contained in the Technical Report or on any information based upon that Technical Report until the Company has resolved the comments raised by the BCSC. The Company is currently in the process of preparing an amended technical report and does not anticipate any difficulty in addressing the comments raised by the BCSC. The amended technical report will be posted on the Company’s SEDAR profile once complete.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements in this news release include that the Company intends to resolve the comments raised by the BCSC, that it does not anticipate any difficulty in addressing the comments raised by the BCSC and that it will file an amended technical report on SEDAR when complete.
Actual results may differ materially from those currently anticipated due to a number of factors, including that the Company will be able to resolve the comments raised by the BCSC and that the filing of an amended technical report will resolve such comments. These forward-looking statements are made as of the date of this news release and, except as required by applicable laws, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
Get our daily investorintel update
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>