Trading symbol (TSX-V): RML
VANCOUVER,
May 21, 2013 /CNW/ - Rusoro Mining
Ltd. (the "Company" or "Rusoro") announces that filing of its
annual financial statements for the year ended December 31, 2012 has been delayed, pending the
issuance of an unqualified opinion by the Company's auditors.
As a result, the Company understands that a cease trade order will
be issued by the British Columbia Securities Commission at the
close of business on May 21,
2013.
As a result of the nationalization of the
Company's ongoing operations and assets in Venezuela, the auditor was unable to obtain
sufficient verification of the Company's ongoing liabilities in
Venezuela to issue an unqualified
opinion prior to the April 30, 2013
filing deadline. The Company is presently working with the
auditor to obtain confirmations from the outstanding creditors of
the Company's Venezuelan subsidiaries following which the auditor
anticipates being able to issue an unqualified opinion.
Additional information regarding the
nationalization of the Company's assets in Venezuela and the Company's ongoing litigation
involving the Government of Venezuela is available on SEDAR and on the
Company's website at www.rusoro.com.
ON BEHALF OF THE BOARD
"Andre Agapov"
Andre Agapov,
President & CEO
Forward-looking statements:
This document contains statements about
expected or anticipated future events and financial results that
are forward-looking in nature and as a result, are subject to
certain risks and uncertainties, such as general economic, market
and business conditions, the regulatory process and actions,
technical issues, new legislation, competitive and general economic
factors and conditions, the uncertainties resulting from potential
delays or changes in plans, the occurrence of unexpected events,
and the Company's capability to execute and implement its future
plans. Actual results may differ materially from those projected by
management. For such statements, we claim the safe harbour for
forward-looking statements within the meaning of the Private
Securities Legislation Reform Act of 1995.
"Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release."
SOURCE Rusoro Mining Ltd.