Stocks & Investing
Stocks and Investing
Stocks and Investing
Tue, March 20, 2012
Mon, March 19, 2012 Mahdia Gold Corp. Provides Update on Private Placement and Regulatory Reporting and Governance Efforts
March 19, 2012 20:28 ET
Mahdia Gold Corp. Provides Update on Private Placement and Regulatory Reporting and Governance Efforts
TORONTO, ONTARIO--(Marketwire - March 19, 2012) - Further to its news releases of August 29, 2011, December 13, 2011 and January 3, 2012 announcing a private placement to raise up to $8,000,000, Mahdia Gold Corp (CNSX:MGD) ("Mahdia" or the "Corporation"), announces tha t it has extended the closing of the private placement to March 29, 2012. Further, the Corporation has re-priced its units from $0.40 to $0.25 to accommodate accredited and institutional investors.
The Corporation has been informed by CNSX Markets Inc. (the "Exchange") that it is currently in default of certain of the reporting requirements of a CNSX Listed Company. For instance, the Corporation was required to file a preliminary Form 9 in connection with the announcement of the private placement, and to issue a news release announcing the extension of the closing date and the re-pricing of the units, on March 13, 2012. The Corporation will file the Form 9 and this news release concurrently.
Management is continuing to work with the Exchange to rectify the existing disclosure record, and anticipates that the Exchange may impose additional requirements as a condition of continued listing.
About Mahdia Gold Corp.
Mahdia is a Canadian based gold exploration and development company with interests in three gold bearing concessions in central Guyana, namely, Omai, Tiger River and White Creek.
The Company's website is: [ www.mahdiagold.com ]. The website of the CNSX exchange is [ www.cnsx.ca ].
Forward-Looking Statements
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward- looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such.
Neither CNSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CNSX) accepts responsibility for the adequacy or accuracy of this release.
