Frontera Copper Corporation informs that the submission of the Company’s financial statements for the year ended December 31, 2010, comprising the associated management discussion and analysis, annual information form, and CEO and CFO certifications (collectively referred to as the “Required Documents”), will not meet the stipulated filing deadline of March 31, 2011.
The delay in filing the Required Documents is attributed to the annual audit procedures taking more time than initially anticipated. It’s important to clarify that there is no disagreement with the auditors concerning the audit scope or accounting matters.
The Company is actively collaborating with its accounting team and auditors, expecting to complete the filing of the Required Documents by or before April 11, 2011.
The Company has submitted an application to the relevant securities regulatory authorities and has been granted a management cease trade order pertaining to the Company’s securities, applicable to certain or all current directors or officers of the Company, restricting them from trading the Company’s securities. This management cease trade order will remain in effect until the Required Documents are duly filed.
During this period, until the Required Documents are submitted, the Company aims to provide information in adherence to National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults.
Sono Resources Inc. has formalized a Share Purchase Agreement (the “Agreement”) with Tignish (PTY) Ltd., a Botswana-based company (the “Vendor”), to acquire 95 percent of the issued and outstanding shares (the “Shares”) of Bonnyridge (PTY) Ltd., also a Botswana-based company (“Bonnyridge”). Bonnyridge holds legal and beneficial ownership of three mineral license blocks situated in Northwestern Botswana, Africa (the “Property”).
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