Artha Resources Corporation ("Artha" or the "Corporation") (TSXV:AHC) announces that the Corporation has applied to the British Columbia and Alberta Securities Commission to approve a Management Cease Trade Order ("MCTO"). If approved, it is anticipated that the MCTO will be issued effective May 1, 2014. The Corporation anticipates it may be unable to file its audited financial statements, management's discussion and analysis, and the related certificates for the year ended December 31, 2013 (the "Required Filings") before the April 30, 2013 filing deadline (the "Filing Deadline").
The Corporation anticipates that it will be in a position to remedy the default within the two-month time allotted that the Corporation has applied for under the MCTO and file the Required Filings on or before June 30, 2014. The MCTO restricts all trading in securities of the Company, whether direct or indirect, by management of the Corporation. The MCTC will be in effect until the Required Filings are filed.
The Corporation intends to satisfy the provisions of the alternative information guidelines set out in section 4.3 and 4.5 of National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults so long as the Required Filings are outstanding.
The Corporation has not taken any steps towards insolvency proceeding and the Company has no material information to release to the public.
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 press release.
Forward-Looking Statements
This press release contains forward-looking information within the meaning of the British Columbia Securities Act relating to the Company's expectations, intentions, plans and beliefs. Forward-looking statements include statements regarding the Company's. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results to be materially different from any future result expressed or implied by the forward-looking statements. Factors that may cause actual results to vary include, but are not limited to, risks inherent in mineral exploration and development including environmental hazards, unusual or unexpected geological formations; risks associated with the estimation of mineral resources and reserves and the geology, grade and continuity of mineral deposits; uncertain political and economic environments; changes in laws or policies; completion for capital and skilled workers; and changes in commodity prices and exchange rates. The Company does not assume the obligation to revise or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.