|By Marketwired .||
|May 13, 2014 07:00 AM EDT|
LONDON, UNITED KINGDOM -- (Marketwired) -- 05/13/14 -- Amara Mining PLC (AIM: AMA)
Amara Mining plc
("Amara" or "the Company")
CHANGE IN REPORTING ISSUER STATUS IN CANADA
Amara Mining plc, the AIM-listed West African-focused gold mining company, announces that further to the Company's news release on 21 October 2013, which announced that it was voluntarily delisting from the Toronto Stock Exchange with effect from 25 October 2013, it is applying for a decision from the Ontario Securities Commission that it is no longer a reporting issuer in Ontario.
The Company is not a reporting issuer in any other Canadian jurisdiction. If the requested decision is made by the Ontario Securities Commission, the Company will cease being a reporting issuer in any jurisdiction in Canada and, as a result, will no longer be required to file financial statements and other continuous disclosure documents with Canadian securities regulatory authorities. This is expected to result in cost savings for Amara.
Notwithstanding a decision that the Company is not a reporting issuer in Canada, the Company will continue to file all financial statements and other continuous disclosure materials required to be filed by it in accordance with applicable laws and regulations of the United Kingdom, including rules of the Financial Conduct Authority and the AIM market of the London Stock Exchange ("AIM").
All such continuous disclosure documents of the Company are publicly available to all Amara shareholders on the Company's website at www.amaramining.com and Amara shareholders resident in Canada will continue to receive copies of continuous disclosure documents that are required to be delivered to shareholders in the United Kingdom, in the same manner and at the same time as is required under the applicable laws and regulations in the United Kingdom, including the rules of the Financial Conduct Authority and AIM.
Amara remains committed to maintaining its compliance to National Instrument 43-101 for the reporting of Mineral Resources and Mineral Reserves, representing the Company's transparent approach.
For more information please contact:
+44 (0)20 7398 1420 Amara Mining plc Catherine Apthorpe, Commercial Manager and Company Secretary Katharine Sutton, Head of Investor Relations Peel Hunt LLP +44 (0)20 7418 8900 (Nominated Adviser & Joint Broker) Matthew Armitt Ross Allister GMP Securities Europe LLP +44 (0)20 7647 2800 (Joint Broker) Richard Greenfield David Wargo Farm Street Communications +44 (0)7593 340 107 (Media Relations) Simon Robinson
About Amara Mining plc
Amara is a gold developer-producer with assets in West Africa. The Company generates cash flow through its Kalsaka/Sega gold mine in Burkina Faso. Amara is focused on unlocking the value in its development projects. At Yaoure in Côte d'Ivoire, this will be done by increasing the confidence in the existing Mineral Resource and economics at the project as the Company progresses it through to Pre-Feasibility Study and Bankable Feasibility Study. At Baomahun, this will be done by gaining an improved understanding of the exploration upside potential and underground opportunity. With its experience of bringing new mines into production and a project pipeline spanning four countries, Amara aims to further increase its production profile with highly prospective opportunities across all assets.