Notice that Sunset Cove March 31, 2015 Audited Statements will be Filed by October 15, 2015
Montreal, Quebec--(Newsfile Corp. - August 25, 2015) - Sunset Cove Mining Inc. (TSXV: SSM) ("Sunset Cove Mining" or the "Corporation") announces that the Corporation has not been able to file its annual audited financial statements, management's discussion and analysis and CEO and CFO certificates (collectively, the "2014 Annual Audited Financial Statements") by the filing deadline of July 30, 2015 as prescribed by National Instrument 51-102 - Continuous Disclosure Obligations ("NI 51-102"). This is due to a lack of funding to pay for the costs associated with the audit. This decision is not based on any disagreement relating to the financial statements of the Corporation. The inability to file the 2014 Audited Financial Statements within the prescribed time periods has caused security regulatory authorities to issue a cease-trade order against the Corporation.
The Company would also like to report that is in advanced discussion with a group of investors who are interested in making a loan necessary to settle the outstanding issues of the Corporation and, if all elements can be settled, including the lifting of the cease-trade order consider make an additional investment to get the company back on a solid financial footing.
Until the Corporation completes the filing of the 2014 Annual Audited Financial Statements, Sunset 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 the Corporation to issue bi-weekly default status reports by way of a news release so long as the 2014 Annual Audited Financial Statements have not been filed.
The Corporation confirms that it is not the object of any proceedings under insolvency proceedings and that there are no other material facts not generally disclosed.
About Sunset Cove - Sunset Cove Mining Inc. is a dynamic Canadian junior mineral exploration and development company dedicated to driving shareholder value through the economical acquisition, exploration and development of strategic metals properties in Canada and Latin American locations to the point where they become attractive joint venture or acquisition targets. Sunset currently has five properties in its portfolio, the Lac Guéret West and North graphite properties; the La Pause and Lac des Vents Gold properties in Quebec and the Carolay Silver property in Peru.
Forward-Looking Statements
Some of the statements contained herein may be forward-looking statements that involve known and unknown risks and uncertainties. Results presented in this press release are exploratory in nature. Historical data, if mentioned, should not be relied upon, as they are not admissible under NI 43-101 rules and the Company has not conducted sufficient testing to verify this type of information. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward-looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world-wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability, and the uncertainty of access to additional capital. Sunset Cove disclaims any obligation to update any such forward-looking statements.
"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."
For further information, please contact:
Lorne Woods, President, Sunset Cove Mining
(877) 234-0692; ext. 250
lwoods@sunsetcovemining.com
www.sunsetcovemining.com
