Abacus comments on unusual trading activity
May 10 2017 - 5:02PM
Abacus Mining & Exploration Corporation
(“
Abacus” or the “
Company”)
(TSXV:AME) provides comments on the recent unusual trading activity
in its shares on the TSX Venture Exchange. While it is not
the Company’s usual policy to comment on trading price, at the
request of IIROC (the Investment Industry Regulatory Organization
of Canada), Abacus wishes to confirm that the Company’s management
is unaware of any material change in the Company’s operations that
would account for the recent increase in market activity.
Abacus believes that the recent unusual trading
activity may be related to the consolidation of its common shares
announced on April 26, 2017, which commenced trading on the basis
of one (1) post-consolidation share for every six (6)
pre-consolidation shares on May 1, 2017, and to an article on the
Company that appeared in the Resource Stock Digest Premium website
(“RSDP”) dated May 8, 2017.
The article follows a site visit made by the
author to the Company’s recently optioned Willow Property in
Nevada. An introductory report was made available to
subscribers of the RSDP on May 3, 2017, which was followed by the
article of May 8, 2017. No compensation has been or will be
provided by the Company to RSDP or the author of the May 8th
article. RSDP and the author are at arm’s length with the
Company. The target price in the May 8th article is solely
the opinion of the author of the article and is not endorsed in any
way by the Company. There is currently no material
information of the Company that has not been generally disclosed.
For further information, please contact the
Company at (604) 682-0301.
On Behalf of the Board, ABACUS MINING & EXPLORATION
CORPORATION
Michael McInnisChairman, President & CEO
About Abacus
Abacus is a mineral exploration and mine
development company with a 20% interest in the Ajax Project located
at the historic Ajax-Afton site southwest of Kamloops, B.C., and an
option to acquire up to a 75% undivided interest in the Willow
porphyry copper-gold property located in Nevada. The Ajax Project
is a proposed copper-gold open-pit mine currently undergoing a
provincial and federal environmental assessment process. Through
KGHM Ajax Mining Inc., a joint venture company between Abacus (20%)
and KGHM Polska Miedz S.A. (KGHM) (80%), the Ajax Mine is being
funded in large part by KGHM and operated by its wholly-owned
subsidiary, KGHM International Ltd. For the latest reports and
information on Abacus’ projects, please refer to the Company’s
website at www.amemining.com.
Forward-Looking InformationThis
release includes certain statements that are deemed
“forward-looking statements”. All statements in this release, other
than statements of historical facts, that address events or
developments that Abacus expects to occur, are forward-looking
statements. Forward-looking statements are statements that are not
historical facts and are generally, but not always, identified by
the words “expects”, “plans”, “anticipates”, “believes”, “intends”,
“estimates”, “projects”, “potential” and similar expressions, or
that events or conditions “will”, “would”, “may”, “could” or
“should” occur. Although the Company believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance and actual results may differ materially from
those in the forward-looking statements. Factors that could cause
the actual results to differ materially from those in
forward-looking statements include changes to commodity prices,
mine and metallurgical recovery, operating and capital costs,
foreign exchange rates, ability to obtain required permits on a
timely basis, exploitation and exploration successes, continued
availability of capital and financing, and general economic, market
or business conditions. Investors are cautioned that any such
statements are not guarantees of future performance and actual
results or developments may differ materially from those projected
in the forward-looking statements. Forward-looking statements are
based on the beliefs, estimates and opinions of the Company's
management on the date the statements are made. Except as required
by applicable securities laws, the Company undertakes no obligation
to update these forward-looking statements in the event that
management's beliefs, estimates or opinions, or other factors,
should change.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Abacus Mining and Explor... (TSXV:AME)
Historical Stock Chart
From Mar 2024 to Apr 2024
Abacus Mining and Explor... (TSXV:AME)
Historical Stock Chart
From Apr 2023 to Apr 2024