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Share Name | Share Symbol | Market | Type |
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TSXV:BNX.A | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
/THIS DOCUMENT IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./
CALGARY, April 28, 2014 /CNW/ - BNP Resources Inc. ("BNP" or the "Corporation") would like to announce that the company does not have sufficient funds on hand to pay the SEDAR fees and year end financials, which are estimated to cost $100,000. As we will not be filing our financial results at the end of April and are unable to pay the listing fees, we anticipate that the shares of BNP Resources will be suspended from trading shortly after April 30th, 2014.
The following is a summary of our plans, path forward and new exploration prospects:
Management will be working on the strategic alternatives necessary to resolve this short term suspension. The assets of the company offer good value to a new management team interested in low risk growth. Longer term, the best growth potential is with the high porosity, high permeability Bakken play south of Ferguson. We begin the search for such an investor interested in building a foundation with the low risk Jensen play, followed by growth by the drill bit, focused on the Bakken south of Ferguson, Alberta. This play is still in the early stages.
Our head office address will be changed to 6004 Elbow Drive SW, Calgary, Alberta, T2V-1J3, in order to reduce monthly operating costs.
We appreciate the patience of our creditors, shareholders and directors during these challenging times. Management and directors currently hold in excess to 30% of the shares of the company and share the concerns of all creditors and shareholders.
BNP is actively engaged in the exploration for and the development and production of oil and natural gas reserves. BNP's business strategy is to build sustainable and profitable per share growth through internally generated exploration and development drilling.
BNP has approximately 61,912,151 Class A shares issued and outstanding which trade on the TSX Venture Exchange under the symbols "BNX.A".
Neither the TSX Venture Exchange nor Its Regulation Services Provider (as the term Is defined In the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE BNP Resources Inc.
Copyright 2014 Canada NewsWire
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