Vancouver, British Columbia - Artha Resources Corporation (TSX.V: AHC)(the "Corporation") announces that further to its news release dated May 1, 2014 (the "Default Notice"), the British Columbia Securities Commission issued a Management Cease Trade Order on May 1, 2014 (the "MCTO") against certain of the Corporation's Insiders for the Corporation's failure to file its annual financial statements, management discussion and analysis and related Chief Executive Officer and Chief Financial Officer certificates for its fiscal year-ended December 31, 2013 (the "Required Filings") by the deadline of April 30, 2014. The Corporation is required to provide bi-weekly status updates in accordance with National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults until the MCTO has been revoked or a full cease trade order issued.
The Corporation was not in a position to file its Required Filings within the required time due to a lack of funds that prevented the Corporation from being able to engage its auditors. The Corporation is currently engaged in the sale of an interest in a mineral property. The Corporation anticipates that, with the proceeds of this sale, it will be in a position to remedy the default and file the Required Filings on or about June 30, 2014.
Pursuant to the requirements of Section 4.4 of National Policy 12-203, the Corporation reports that as of the date hereof:
- there have been no material changes to the information contained in the Default Notice and the Corporation reasonably expects to file the Required Filings on or about June 30,,2014;
- there have been no failures with respect to the Corporation fulfilling its stated intentions of satisfying the requirements of filing the Required Filings;
- the Corporation does not have knowledge of any specified, or anticipated, default subsequent to the default which is the subject of the Default Notice; and
- other than as disclosed herein, there is no other material information about the affairs of the Corporation that has not otherwise been generally disclosed.
On Behalf of the Board of Directors,
"Todd McMurray" President Artha Resources Corporation
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 Corporation's expectations, intentions, plans and beliefs. Forward-looking statements include statements regarding the Corporation'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 Corporation 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.