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| Home : Diadem Application to Securities Commissions for Partial Revocation of Cease Trade Orders and Approval for Private Placements Aggregating $200,000 |
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Jul 23
2013 |
Diadem Application to Securities Commissions for Partial Revocation of Cease Trade Orders and Approval for Private Placements Aggregating $200,000 |
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MONTRÉAL, QUEBEC--(Marketwired - July 22, 2013) - Diadem Resources Ltd. (TSX VENTURE:DRL.H)
Diadem Resources Ltd. (the "Company" or "Diadem") announces today that it has received approval from each of the Alberta Securities Commission, British Columbia Securities Commission, Ontario Securities Commission and L'Autorité des Marchés Financiers in Quebec for respective partial revocation of cease trade orders which will permit the Company to proceed with a financing. The Company has been subject to the cease trade orders from the respective commissions as a result of a delay in filing the Company's audited consolidated statements and the related management's discussion and analysis for the year ended May 31, 2012 and delays in the filing of interim consolidated, condensed financial statements and other continuous disclosure documents for the periods ended August 31, 2012. November 30, 2012 and February 28, 2013. The late filing of the required financial disclosure documents is a consequence of financial distress resulting in the inability of the Company to pay its auditor for services that would lead to the release of the Company's audited consolidated financial statements. |
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| Source:http://www.marketwire.com/mw/release.do?id=1813356&sourceType=3 |
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