Jun 14, 2016
NOTIFICATION OF TSX CONTINUED LISTING REVIEW
Zazu Metals Corporation (TSX: ZAZ, "Zazu") announced today that it has received notice that the Toronto Stock Exchange (the "TSX") is reviewing the eligibility for continued listing on the TSX of the common shares of the Company pursuant to Part VII of the TSX Company Manual for failing to incur expenditures of at least $350,000 for exploration on its core existing projects during the last 12 month period. Zazu has been granted 120 days in which to demonstrate compliance with the continued listing requirements (the "Listing Requirements") of the
TSX, pursuant to the TSX's Remedial Review Process. If the Company is unable to demonstrate on or before October 12, 2016 that it meets the Listing Requirements, its securities will be delisted from the TSX 30 days from
The Company will be working with the TSX throughout the review process and is currently exploring several options and expects to formulate a plan to satisfy the Listing Requirements with respect to its property expenditures. Zazu will provide a further strategic update shortly. In the event the Company is unable to continue with the listing of its securities on the TSX, other listing alternatives exist for reporting issuers in Canada on other exchanges.
"Due to poor market conditions Zazu management decided to cut back on any development expenses that could be deferred. For that reason only ongoing studies required to advance permitting were included in the budget.
These studies were inexpensive, consequently the company did not meet the minimum annual expenditures." said Gil Atzmon, CEO. "Zazu plans to engage in a more active program this season and expects to meet the minimum expenditures prior to the end of the TSX review."
You can view the Next News Releases item: Wed Oct 5, 2016, ZAZU METALS CORPORATION TO VOLUNTARILY DELIST FROM TORONTO STOCK EXCHANGE AND LIST ON TSX VENTURE EXCHANGE
You can view the Previous News Releases item: Fri May 8, 2015, Zazu Metals Inc. Announces Closing of Non-Brokered Private Placement
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