Vancouver, B.C., April 14, 2017 – Dynasty Metals & Mining Inc. (“Dynasty” or the “Company”) (TSX: DMM, OTCQX: DMMIF) is providing this bi-weekly update on the status of a management cease trade order granted on April 3, 2017 (the “MCTO”) by its principal regulator, the British Columbia Securities Commission (the “BCSC”), under National Policy 12-203 – Management Cease Trade Order (“NP 12-203”). On April 3, 2017, the Company announced that, for reasons disclosed in the news release, there would be a delay in the filing of its annual information form, financial statements and accompanying management’s discussion and analysis for the fiscal year ended December 31, 2016 (the “Annual Filings”) beyond the 90 day period prescribed under applicable Canadian securities laws for the filing of such documents (the “Default Announcement”).
Dynasty reports that, since the issuance of the Default Announcement, the previous anticipated filing of the Annual Filings by April 14, 2017 will not be met. The Company now anticipates filing the Annual Filings on or before April 28, 2017.
During the MCTO, the general investing public will continue to be able to trade in the Company’s listed common shares. However, the Company’s chief executive officer and chief financial officer will not be able to trade in the Company’s shares.
Other than as disclosed in this press release, there are no material changes to the information contained in the Default Announcement. The Company confirms that it intends to satisfy the provisions of NP 12-203 and will continue to issue bi-weekly default status reports for so long as it remains in default of the Annual Filings requirement.
About Dynasty Metals & Mining Inc.
Dynasty Metals & Mining Inc. is a Canadian based mining company involved in the mining, exploration and development of mineral properties in Ecuador. The Company is currently focused on gold production and continued development at its Zaruma Gold Project. The Company also owns the Dynasty Goldfield Project, a permitted property 180km southwest of the Zaruma project, and the Jerusalem Project, an exploration property immediately south of the Fruta del Norte project.
For further information please visit the Company’s website at www.dynastymining.com or please contact:
Keith Piggott, CEO
Suite 1502 – 1166 Alberni Street
Vancouver, B.C. V6E 3Z3
This news release contains statements which are, or may be deemed to be, “forward-looking information” which are prospective in nature. Often, but not always, forward-looking information can be identified by the use of forward-looking words such as “plans”, “expects” or “does not expect”, “is expected”, “scheduled”, “estimates”, “forecasts”, “projects”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Such information in this news release includes, without limitation, statements regarding the timing and completion of necessary accounting and review procedures to complete the Annual Filings and other factors beyond our control. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause Dynasty’s actual results, revenues, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Important risks that could cause Dynasty’s actual results, revenues, performance or achievements to differ materially from Dynasty’s expectations include, among other things, risks found in Dynasty’s Annual Information Form for the year ended December 31, 2015, which is available on SEDAR at www.sedar.com. Other than in accordance with regulatory obligations, Dynasty is not under any obligation and Dynasty expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.