| | | January 15, 2010 Filing of Amended and Restated June 30, 2009 Third Quarter Interim Financial Statements
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| | As a result of a review of the British Columbia Securities Commission, we are issuing the following press release to clarify our disclosure:
Vancouver, B.C.: The Company would like to announce that it has filed on SEDAR on today's date Amended and Restated June 30, 2009 interim financial statements (the "Amended and Restated statements") for the quarter ending June 30, 2009, and Revised and Restated Management Discussion and Analysis Form in support thereof, to correct deficiencies brought to its attention by the British Columbia Securities Commission (the "Commission") on October 7, 2009, which included the presentation of its statements, to recognize:- Recognizing an impairment from the termination of its interest in the CK Property;
- Accruing the balance outstanding on the Silver Hart property mill;
- Recording of stock-based compensation pursuant to the Company's grant of options on June 25, 2009;
- Recording of non-cash transactions;
- Recording of the future income tax liability for its flow-through shares;
- Recording the fair value of warrants issued;
- Recording the breakdown of exploration expenses for the nine months ending June 30, 2009;
- Recording the status of the commitment to incur qualifying expenditures.
Regarding the Management Discussion and Analysis Form, the Company has addressed the Commission's following comments in the Revised and Restated version filed with the Amended and Restated statements:- Providing an analysis of the Company's liquidity;
- Providing an analysis of the Company's capital resources, including commitments of capital requirements;
- Providing an updated on the status of the Company's Silver Hart mill;
- Providing the full terms of the agreement between the Company and Auburn Mining pursuant to the Wheelbarrow property.
This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents.
On behalf of the Board:
"Don Wedman"
Don Wedman, P.Eng.
CEO
CMC METALS LTD.
For further information on the Company, please contact Mr. Gord Zelko, VP Business Relations at StoxNetwork Corp. Telephone: 250-495-7123, or Email: gz@mineralstocks.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. |
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