Buffalo Coal Corp. Receives TSX Venture Exchange Listing Review Notice
TORONTO, ONTARIO--(Marketwired - Jan. 14, 2016) -
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Buffalo Coal Corp. ("Buffalo Coal" or the "Company") (TSX VENTURE:BUF) (AltX:BUC) announced that it has been notified by the Compliance & Disclosure Department of the TSX Venture Exchange ("TSXV") that the Company is being placed on notice for transfer to the NEX Board of the TSXV ("NEX") for failure to meet the public float continued listing requirements of the TSXV. NEX is a separate board of the TSXV and provides a trading forum for listed companies that have fallen below the TSXV's ongoing listing standards.
Pursuant to the notice, the Company will have until July 7, 2016 to provide satisfactory submissions on the issue. The Company intends to work with the TSXV throughout the review period in an effort to restore compliance with TSXV continued listing requirements.
About Buffalo Coal
Buffalo Coal is a coal producer in southern Africa. It holds a majority interest in two operating mines through its 100% interest in Buffalo Coal Dundee (Pty) Ltd, a South African company which has a 70% interest in Zinoju Coal (Pty) Ltd ("Zinoju"). Zinoju holds a 100% interest in the Magdalena bituminous mine and the Aviemore anthracite mine in South Africa. Buffalo Coal has an experienced coal‐focused management team.
This press release contains "forward‐looking information" within the meaning of applicable Canadian securities legislation. Forward‐looking information includes, but is not limited to, statements with respect to the future financial or operating performance of Buffalo Coal and its projects. Generally, forward‐looking information can be identified by the use of forward‐looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward‐looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Buffalo Coal to be materially different from those expressed or implied by such forward‐looking information, including but not limited to: general business, economic, competitive, foreign operations, political and social uncertainties; a history of operating losses; delay or failure to receive board or regulatory approvals; timing and availability of external financing on acceptable terms; not realizing on the potential benefits of the proposed transaction; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of mineral products; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and, delays in obtaining governmental approvals or required financing or in the completion of activities. Although Buffalo Coal has attempted to identify important factors that could cause actual results to differ materially from those contained in forward‐looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward‐looking information. Buffalo Coal does not undertake to update any forward‐looking information, except in accordance with applicable securities laws.
Neither the TSX Venture Exchange, nor its regulation services provider (as that term is defined in the policies of the exchange), accepts responsibility for the adequacy or accuracy of this release.
(January 14, 2016 - 8:51 AM EST)
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