West Red Lake Gold Mines Inc. (“West Red Lake Gold” or the “Company”) (CSE: RLG) (FWB:HYK) (OTC: HYLKF) announces that, further to its news release dated December 22, 2015, the Ontario Securities Commission has issued a temporary management cease trade order which is in effect until January 8, 2016. This order provides that all trading in and all acquisitions of the securities of the Company, whether direct or indirect, by Thomas Meredith (acting CEO) and John Kontak (acting CFO) shall cease for a period of 15 days from today’s date. This order is a result of the Company’s application for a management cease trade order for failure to file an independent technical report on its West Red Lake Project substantiating its disclosure of an internal resource calculation which was inserted into the investor presentation on the Company website by previous management as early as February 4, 2014.
Other than as disclosed in this news release, there are no material changes to the information contained in the default announcement of December 22, 2015. The Company confirms that it intends to satisfy the provisions of the alternative information guidelines described in sections 4.3 and 4.4 of National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults, for so long as it remains in default of the requirement to file the required filings.
West Red Lake Gold Mines Inc. is a Toronto-based minerals exploration company focused on gold exploration and development in the prolific Red Lake Gold District of Northwest Ontario, Canada. To find out more about West Red Lake Gold, please visit our website at http://www.westredlakegold.com.