Rocmec Mining Inc. is providing this default status report in accordance with Policy Statement 12 203 respecting Cease Trade Orders for Continuous Disclosure Defaults (“Policy Statement 12 203”).
On January 24 and 30, 2013, the Corporation announced (the “Default Announcement”) that, for the reasons disclosed in the Default Announcement, the filing of the Corporation’s annual financial statements, accompanying management’s discussion and analysis and related CEO and CFO certifications for the financial year ended September 30, 2012 (collectively, the “2012 Annual Financial Documents”) would not be completed by the prescribed deadline set by the Canadian securities legislation, being January 28, 2013. In addition, on March 8, 2013, the Corporation announced that its unaudited interim consolidated financial statements and related management’s discussion and analysis for the three-month period ended December 31, 2012 (collectively, the “Interim Financial Documents”) would need to be amended in order to take into account the annual audit and the final version of the 2012 Annual Financial Documents.
As a result of the delay in filing the 2012 Annual Financial Documents, the Corporation’s principal regulator, the Autorité des marchés financiers (the “AMF”), granted a management cease trade order (the “MCTO”) to the Corporation. The MCTO restricts all trading in securities of the Corporation, whether direct or indirect, by the Chief Executive Officer, the Chief Financial Officer and the directors of the Corporation until such time as the 2012 Annual Financial Documents have been filed by the Corporation. The MCTO does not affect the ability of shareholders who are not insiders of the Corporation to trade their securities.
Rocmec wishes to announce that its auditors have now completed the audit of the annual financial statements. The 2012 Annual Financial Documents and the amended and restated Interim Financial Documents were filed with the applicable securities regulatory authorities and are available on the SEDAR database at www.sedar.com. Once the AMF has reviewed the filed documents, it is expected that the MCTO will be lifted.
Pursuant to the provisions of the alternative information guidelines specified by Policy Statement 12-203, the Corporation reports that since the Default Announcement and subsequent default status reports, except as stated in this Default Status Report, there have not been any material changes to the information contained therein; nor any failure by the Corporation to fulfill its intentions as stated therein with respect to satisfying the provisions of the alternative information guidelines, and there are no additional defaults or anticipated defaults subsequent to the disclosure therein, other than the delay in filing the 2012 Annual Financial Documents. Further, there are no additional material information respecting the Corporation and its affairs that have not been generally disclosed and there are no insolvency proceedings against the Corporation as of the date of this Default Status Report.
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