Lifting of the Cease Trade Order and Corporate Update
VAL-D’OR, Quebec, March 15, 2021 (GLOBE NEWSWIRE) — ÎLEDOR EXPLORATION CORPORATION (« Îledor » or the ” Corporation”) (NEX: ILE.H) is pleased to announce the complete lifting as of today of the cease trade orders issued by the British Columbia Securities Commission, the Alberta Securities Commission and the Autorité des Marchés Financiers. These cease trade orders were issued following the inability of Îledor to file its audited annual financial statements for the year ended July 31, 2013 and its quarterly financial statements for the period ended October 31, 2013. This lifting follows the filing by Îledor of all periodic continuous disclosure documents required by law.
In accordance with Policy Statement 12-202 respecting Revocation of certain Cease Trade Order, Îledor undertakes to hold an annual meeting within three months of the date of such lifting.As the Corporation has ceased its active mining activities, Îledor’s management and Board of Directors are therefore continuing their evaluation of various strategic alternatives for the repositioning of the Corporation in the best interest of its shareholders. These efforts are in line with the prospect of completing a major transaction that could result in a change in the Corporation’s activities and a prompt re-admission to trading of Îledor’s securities on the TSX Venture Exchange.Indeed, the Corporation’s Board of Directors has a fiduciary duty to its shareholders to examine all possible avenues to (i) grow shareholders’ equity, (ii) preserve its working capital and (iii) make the best possible use of its status as a public vehicle.For more information, please contact Mr. Bertrand Brassard, President and Chief Executive Officer at (418) 817-0806.Neither TSX/NEX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX/NEX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Statements made in this press release that are not historical facts are “forward-looking statements” and the reader is cautioned that such statements are not guarantees of future performance and that actual developments and results may differ materially from those in such “forward-looking statements”.