|By Marketwire .||
|November 5, 2012 06:48 PM EST||
TORONTO, ONTARIO -- (Marketwire) -- 11/05/12 -- NXA INC. ("NXA" or the "Company") (TSX VENTURE:NXI) announces that it has received correspondence from the Compliance & Disclosure Department of the TSX Venture Exchange (the "TSXV") indicating that the TSXV has determined that the Company has more than one Tier 2 continued listing requirement ("CLR") deficiency. The deficiencies identified relate to the Activity and Assets & Operations Requirements for an issuer classified under the Mining Industry Segment. If the Company has not provided the TSXV with a submission on or before January 22, 2013 and/or has not satisfied the TSXV that it meets all Tier 2 CLR, the TSXV will proceed to transfer the Company's listing to the NEX board of the TSXV, without further notice. The Issuer intends to respond to the TSXV in connection with this correspondence.
Cautionary Statement Regarding Forward-Looking Statements:
This press release contains forward-looking statements regarding a proposed delisting of the common shares of NXA. Actual developments may differ materially from those contemplated by these statements depending upon, among other things, the decisions made by regulators. The forward looking statements contained in this press release represent the Company's views and expectations as of the date of this release and should not be relied upon as representing its views and expectations at any subsequent date.
Shares Outstanding: 16,592,001
Neither the 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.
Paul Van Damme
Chief Financial Officer