TORONTO, ONTARIO--(Marketwired - April 1, 2016) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Era Resources Inc. ("Era" or the "Company") (TSX:ERX) today announces that it has been conditionally approved to voluntarily move its current common share listing on the Toronto Stock Exchange ("TSX") to a Tier 2 listing on the TSX Venture Exchange ("TSXV").
The Company believes that a listing on the TSXV will provide for greater operational efficiency and lower costs for the Company while allowing shareholders to have continued liquidity on a recognized exchange.
Subject to TSX and TSXV acceptance, the Company expects a seamless transition from the TSX to the TSXV, resulting in the Company's common shares commencing trading on the TSXV under the same symbol "ERX" at the open of trading on April 18, 2016. The Company's common shares will continue to trade on the TSX until the close of trading on April 15, 2016, and no action by any shareholder is required in connection with the move.
This news release does not constitute an offer to sell or the solicitation of an offer to buy any ordinary shares within the United States. The ordinary shares have not been offered and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws. Accordingly, the ordinary shares may not be offered or sold in the United States or to U.S. persons (as such terms are defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws or an exemption from such registration are granted.
Cautionary Statement Regarding Forward-Looking Information
This news release contains forward looking information. Such forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could", or "might" occur or to be achieved and any other similar expressions. Forward-looking information in this news release includes, but is not limited to, information relating to the moving of the listing of the common shares of the Company from the TSX to the TSXV and the timing thereof and the impact on the Company of such change.
In providing the forward-looking information in this news release, the Company has made assumptions regarding the accuracy of exploration results received to date and that all conditions to the moving of the listing will be satisfied. Although management believes that the assumptions made and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those contained in the forward-looking information. Some of these risks, uncertainties and other factors are described under the heading "Risks Factors" in the Company's annual information form available on the Company's profile on SEDAR at www.sedar.com. Forward-looking information is based on estimates and opinions of management at the date the statements are made. Except as required by law, Era does not undertake any obligation to update forward-looking information even if circumstances or management's estimates or opinions should change. Readers should not place undue reliance on forward-looking information.
Factors that could cause actual results to vary materially from results anticipated by such forward-looking statements include the actual results of exploration activities, changes in market conditions, risks relating to international operations, fluctuating metal prices and currency exchange rates, and other risks of the mining industry. Although Era has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Era undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking statements to the extent they involve estimates of the mineralization that will be encountered if the property is developed. Reference is made to the most recent annual information form of Era available on the Company's profile on SEDAR at www.sedar.com which includes further discussion of the risk factors which may impact the business and operations of Era.
Era Resources Inc.
President & Chief Executive Officer
+61 400 666980
Era Resources Inc.
Chief Financial Officer & Corp. Secretary
+1 416 464 4067