VANCOUVER, BRITISH COLUMBIA- Dynasty Metals and Mining Inc. (“Dynasty” or the “Company”) (TSX:DMM)(OTCQX:DMMIF) is providing this bi-weekly update on the status of a management cease trade order granted on April 3, 2017 (the “MCTO”) by its principal regulator, the British Columbia Securities Commission (the “BCSC”), under National Policy 12-203 – Management Cease Trade Order (“NP 12-203”). On April 3, 2017, the Company announced that, for reasons disclosed in the news release, there would be a delay in the filing of its annual information form, financial statements and accompanying management’s discussion and analysis for the fiscal year ended December 31, 2016 (the “Annual Filings”) beyond the 90 day period prescribed under applicable Canadian securities laws for the filing of such documents (the “Default Announcement”).
Dynasty reports that, since the issuance of the Default Announcement, the previous anticipated filing of the Annual Filings by April 14, 2017 will not be met. The Company now anticipates filing the Annual Filings on or before April 28, 2017.
During the MCTO, the general investing public will continue to be able to trade in the Company’s listed common shares. However, the Company’s chief executive officer and chief financial officer will not be able to trade in the Company’s shares.
Other than as disclosed in this press release, there are no material changes to the information contained in the Default Announcement. The Company confirms that it intends to satisfy the provisions of NP 12-203 and will continue to issue bi-weekly default status reports for so long as it remains in default of the Annual Filings requirement.
About Dynasty Metals and Mining Inc.
Dynasty Metals and Mining Inc. is a Canadian based mining company involved in the mining, exploration and development of mineral properties in Ecuador. The Company is currently focused on gold production and continued development at its Zaruma Gold Project. The Company also owns the Dynasty Goldfield Project, a permitted property 180km southwest of the Zaruma project, and the Jerusalem Project, an exploration property immediately south of the Fruta del Norte project.
Source: Dynasty Metals and Mining Inc.