QIS Update #3 - 2017 - Blue River Resources halted and files year-end financials while Fairmont Resources extends Grabasa asset acquisition again - March 10th 2017
Included in this update:
- Blue River Resources halted for late financial statements that have since been filed
- Fairmont Resources receives another extension on the Grabasa assets in Spain due to unexpected delays
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Blue River Resources Ltd. (BXR:TSX-V)
Current Price: $0.045 - Halted - (coverage commenced Feb. 14/17 - $0.045)
Blue River Resources Ltd. was halted at the open on March 8, 2017, following a cease trade order.
The cease trade order was issued by the British Columbia Securities Commission and the Ontario Securities Commission on March 7, 2017, against Blue River Resources Ltd. for failing to file financial statements for the year ended October 31, 2016, within the required time period.
Upon revocation of the cease trade order, the company's shares will remain suspended until the company meets TSX Venture Exchange requirements. Members are prohibited from trading in the securities of the company during the period of the suspension or until further notice.
Later on March 8, 2017, the company filed it's annual financial statements and MD&A for the year ended October 31, 2016. These filings are available on SEDAR at:
Fairmont Resources Inc. (FMR:TSX-V)
Current Price: $0.045 (coverage commenced February 14/17 - $0.045)
Fairmont Resources Inc. has announced that it has received an extension to complete the payment for Granitos de Badajoz (Grabasa) until April 24, 2017, from the Spanish Court in Badajoz.
"Unexpected delays with clearance documentation from the European-based funding group put us in a position that required an extension request," stated Michael Dehn, president and chief executive officer of Fairmont Resources.
QIS Capital: While we were hoping that the company would be able to announce the completed financing, another extension was required due to some languishing paperwork. We hope to see everything completed in the near future.
Disclaimer: This article is for informational purposes only. The information contained within this article should not be construed as offering investment advice. Those seeking direct investment advice should consult a qualified, registered, investment professional. BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. The company profiled assumes no liability for the information presented. This is not a direct or implied solicitation to buy or sell securities. Readers are advised to conduct their own due diligence prior to considering buying or selling any stock. The author(s) owns directly or indirectly 321,000 shares of Blue River Resources Ltd. and 1,147,500 shares and 1,137,500 warrants of Fairmont Resources Inc. QIS Capital may have a financial relationship with these companies and may trade in the stocks mentioned. No stock exchange has approved or disapproved of the information contained herein. Copyright © 2003 - 2017 QIS Capital Corporation.