VANCOUVER, British Columbia, Jan. 03, 2018 (GLOBE NEWSWIRE) -- Redhawk Resources, Inc. (“Redhawk” or the “Company”) (TSX:RDK) (FWB:QF7) announces that it has been notified by the Toronto Stock Exchange (“TSX”) that it is reviewing eligibility for continued listing of the Company’s common shares (the “Common Shares”) on the TSX. The Common Shares are being reviewed under the TSX’s remedial review process and the Company has been granted 120 days to comply with all requirements for continued listing on the TSX, including with respect to financial condition and operating results, actively engaging in ongoing business and exploration and development expenditures. If the Company cannot demonstrate that it meets all TSX requirements set out in Part VII of the TSX Company Manual on or before May 1, 2018, the Common Shares will be delisted from trading on the TSX 30 days from such date.
The Company intends to work diligently with the TSX during the specified period to demonstrate that the Company satisfies the requirements for continued listing of the Common Shares. However, there can be no assurance that the Company will be able to achieve compliance with the TSX’s continued listing requirements within the required time frame.
Redhawk is a Canadian-based resource exploration and development company with a focus on the continued advancement of the Copper Creek copper-molybdenum project in San Manuel, Arizona. The advanced Copper Creek Arizona property consists of approximately 38 km² of contiguous patented and unpatented mining claims and state prospecting permits, located about 112 km northeast of Tucson, Arizona.
ON BEHALF OF THE BOARD
“J. Stephen Barley”
J. Stephen Barley, Executive Chairman
|For more information, please contact:|
|J. Stephen Barley, Executive Chairman|
Cautionary Note Regarding Forward-Looking Information
Certain statements contained in this press release constitute forward-looking information within the meaning of applicable securities laws. These forward-looking statements relate to future events or the Company’s future performance, business prospects or opportunities including, but not limited to, statements relating to the Company’s intentions to work diligently to satisfy the requirements for continued listing of the Common Shares on the TSX.
The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. These statements speak only as of the date of this press release. Forward looking information involves risks and uncertainties which may cause actual results to be materially different from those expressed or implied by such forward looking information. Such risks and uncertainties relate to the ability of the Company to meet the TSX continued listing requirements on or before May 1, 2018. The Company does not intend, and does not assume any obligation, to update any forward-looking information except as required by law.