VANCOUVER, BC–(Marketwired – February 16, 2016) –
Logan Resources Ltd.
(TSX VENTURE: LGR)
(“Logan” or the “Company”) announces that it has been advised by the TSX Venture Exchange (the “Exchange”) that soon after the dissemination of this news release that the Exchange will be issuing an Exchange bulletin resuming the trading in Company. In addition, Logan has received notice from the TSX Venture Exchange (the “Exchange”) advising Logan of a deficiency in the Exchange’s Tier 2 listing requirements as it has not completed sufficient exploration or development expenditures. The Exchange has placed the Company on notice, with a deadline of August 16, 2016 by which time the Company is required to provide a submission to the Exchange evidencing that it meets the Tier 2 continued listing requirements. If the Company is not able to satisfy the Exchange that it meets all Tier 2 continued listing requirements by August 16, 2016 and has not provided a satisfactory submission, the Exchange will proceed to transfer the Company’s listing to NEX, without further notice.
NEX is a separate board of the Exchange for companies previously listed on the Exchange which have failed to maintain compliance with the continued listing requirements of the Exchange. NEX has been designed to provide a forum for the trading of publicly listed companies while they seek and undertake transactions in furtherance of their reactivation as companies which will carry on an active business.
Logan Resources Ltd. is a mineral exploration company that specializes in acquiring, exploring and advancing Canadian mineral properties. Logan has a diversified portfolio of precious metal, base metal and uranium projects. For more information on the property portfolio and Logan, please visit www.loganresources.ca.
LOGAN RESOURCES LTD.
On behalf of the Board
Chief Financial Officer
Cautionary Note Regarding Forward-Looking Information
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation, statements about the Company’s ability to meet continued listing requirements, the advancement of the Company’s mineral properties and finding other opportunities are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume and the additional risks identified in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and Logan undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to 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) has reviewed or accepts responsibility for the adequacy or accuracy of this release.