CALGARY, June 10, 2011 -
Lakota Resources Inc.(the 'Company') is pleased to announce that the following cease trade orders previously issued against the Company have all been revoked by the relevant provincial securities regulators:
(a) an order issued by the British Columbia Securities Commission on May 11, 2009 for failure to file audited annual financial statements and annual management discussion and analysis for the year ended December 31, 2008;
(b) an order issued by the Ontario Securities Commission on May 18, 2009 for failure to file audited annual financial statements and management's discussion and analysis relating to the audited annual financial statements for the year ended December 31, 2008; and
(c) an order issued by the Alberta Securities Commission on August 10, 2009 for failure to file annual audited financial statements, annual management discussion and analysis and certification of annual filings for the year ended December 31, 2008 and interim unaudited financial statements, interim management discussion and analysis, and certification o interim filings for the interim period ended March 31, 2009.
The Company has now met its continuous disclosure obligations and is substantially up-to-date on all of its filings. Specifically, the Company has filed the following continuous disclosure documents, all of which can be found under the Company's profile at
www.sedar.com:
(a) annual audited financial statements, annual management discussion and analysis and certification of annual filings for the year ended December 31, 2008;
(b) interim unaudited financial statements, interim management discussion and analysis, and certification of interim filings for the interim period ended March 31, 2009;
(c) interim unaudited financial statements, interim management discussion and analysis, and certification of interim filings for the interim period ended June 30, 2009;
(d) interim unaudited financial statements, interim management discussion and analysis, and certification of interim filings for the period ended September 30, 2009;
(e) annual audited financial statements, annual management discussion and analysis and certification of annual filings for the year ended December 31, 2009;
(f) interim unaudited financial statements, interim management discussion and analysis, and certification of interim filings for the interim period ended March 31, 2010;
(g) interim unaudited financial statements, interim management discussion and analysis, and certification of interim filings for the interim period ended June 30, 2010;
(h) interim unaudited financial statements, interim management discussion and analysis, and certification of interim filings for the period ended September 30, 2010; and
(i) annual audited financial statements, annual management discussion and analysis and certification of annual filings for the year ended December 31, 2010.
In addition, the Company has filed a technical report pursuant to National Instrument 43-101 - Standards of Disclosure for Mineral Projects. The Company intends to hold an annual and special meeting of the shareholders by the end of August, 2011.
The common shares of the Company (the 'Shares') are currently not listed or quoted on any exchange or market in Canada or elsewhere. The Shares were formerly listed and posted for trading on the TSX Venture Exchange (the 'Exchange'); however, the Exchange delisted the Shares when the Company failed both to pay its annual sustaining fees and meet its continuous disclosure obligations.
Management of the Company intend to keep shareholders informed of its progress in reinstating the Company as a junior mining company and welcomes any inquires in that regard.
Forward-Looking Information
This release includes certain statements that may be deemed 'forward-looking statements'. All statements in this release, other than statements of historical facts, that address events or developments that the Company 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 the forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Readers 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. 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.
Contact
Lakota Resources Inc.
Colin Taylor, Investor Relations
Phone: (306) 664-4626
Fax: (306) 664-3818
Paul Conroy, President and Chief Executive Officer
Phone: (403) 237-6122
Fax: (403) 237-6144
