h
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 40-F
£
REGISTRATION STATEMENT
PURSUANT TO SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934
OR
Q
ANNUAL REPORT PURSUANT TO SECTION
13(a) OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended
December 31, 2009
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Commission File Number:
000-32748
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Corriente Resources Inc.
(Exact name of Registrant as specified in its charter)
British Columbia
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1000
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Not Applicable
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(Province or other
Jurisdiction of
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(Primary Standard
Industrial
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(I.R.S. Employer
Identification No.)
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Incorporation or
Organization)
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Classification Code Number)
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520 800 West Pender Street
Vancouver, British Columbia, Canada
V6C 2V6
(604) 687-0449
(Address and telephone number of Registrants principal executive offices)
CT Corporation System
111 Eighth Avenue
New York, New York
10011
(212) 894-8940
(Name, address (including zip code) and telephone number
(including area code) of agent for service in the United States)
Securities registered or to be registered pursuant to Section
12(b) of the Act:
Title of Each Class
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Name of Exchange on which
Registered
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Common Shares, No Par Value
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NYSE AMEX
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Securities registered or to be registered pursuant to Section
12(g) of the Act:
None
Securities for which there is a reporting obligation pursuant
to Section 15(d) of the Act:
None
For annual reports, indicate by check mark the information
filed with this Form:
[
X
] Annual information
form
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[
X
] Audited annual
financial statements
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Indicate the number of outstanding shares of each
of the issuer's classes of capital or common stock as of the close of the period
covered by the annual report:
The Registrant had 75,349,893 Common Shares outstanding as at
December 31, 2009.
Indicate by check mark whether the Registrant (1)
has filed all reports required to be filed by Section 13 or 15(d) of the
Exchange Act during the preceding 12 months (or for such shorter period that the
Registrant was required to file such reports) and (2) has been subject to such
filing requirements for the past 90 days.
Yes
Q
No
£
Indicate by check mark whether the Registrant has submitted electronically and
posted on its corporate Web site, if any, every Interactive Data File required
to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of
this chapter) during the preceding 12 months (or for such shorter period that
the Registrant was required to submit and post such files).
Yes
£
No
Q
A.
Disclosure Controls and Procedures
Disclosure controls and procedures are defined by the U.S. Securities and Exchange Commission (the SEC) as those controls and other procedures that are designed to ensure that information required to be disclosed by the Registrant in
reports filed or submitted by it under the Securities Exchange Act of 1934, as amended (the Exchange Act), is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms.
The Registrant's Chief Executive Officer and Chief Financial Officer have evaluated the Registrant's disclosure controls and procedures as of the end of the period covered by this Annual Report and have determined that such disclosure controls and
procedures were effective.
[See "Management's Discussion and Analysis Disclosure Controls and Procedures," included in Exhibit 1.2 to this Annual Report.]
B.
Management's Annual Report on Internal Control Over Financial Reporting
[See "Management's Discussion and Analysis Internal Controls over Financial Reporting," included in Exhibit 1.2 to this Annual Report, and Managements Report on Internal Control over Financial Reporting, included in
Exhibit 1.3 to this Annual Report.]
C.
Attestation Report of the Registered Public Accounting Firm
The attestation report of PricewaterhouseCoopers LLP is included in PricewaterhouseCoopers LLP's report to the shareholders of the Registrant dated March 23, 2010, which accompanies the Registrants audited consolidated financial statements for
the fiscal year ended December 31, 2009, filed as Exhibit 1.3 to this Annual Report.
D.
Changes in Internal Control Over Financial Reporting
During the period covered by this Annual Report, there have been no changes in the Registrants internal control over financial reporting that have materially affected, or are reasonably likely to materially affect, the Registrants
internal control over financial reporting.
E.
Notice of Pension Fund Blackout Period
The Registrant was not required by Rule 104 of Regulation BTR to send any notice to any of its directors or executive officers during the fiscal year ended December 31, 2009.
F.
Audit Committee Financial Expert
The board of directors of the Registrant has determined that the Chair of the Audit Committee, Dale C. Peniuk, qualifies as an "audit committee financial expert" within the meaning of General Instruction B(8)(b) of Form 40-F and is "independent"
within the meaning of applicable SEC regulations and the listing standards of the NYSE AMEX.
The SEC has indicated that the designation of a person as an audit committee financial expert does not make such person an "expert" for any purpose, impose any duties, obligations or liability on such person that are greater than those imposed on
members of the audit committee and the board of directors who do not carry this designation or affect the duties, obligations or liability of any other member of the audit committee or board of directors.
G.
Code of Ethics
The Registrant has adopted a code of ethics, entitled "Policies and Procedures Manual Code of Conduct," that applies to all directors, officers, employees and contractors.
The Registrant's code of ethics can be viewed on the Registrants website at www.corriente.com/corporate/corporate_corp_governance.php.
H.
Principal Accountant Fees and Services (in Canadian dollars)
Audit Fees
The aggregate fees billed by PricewaterhouseCoopers LLP, the Registrants independent registered chartered accountants, for the fiscal years ended December 31, 2009 and 2008 for professional services rendered by PricewaterhouseCoopers LLP for
the audit of the Registrants annual consolidated financial statements and internal control over financial reporting and services that are normally provided by PricewaterhouseCoopers LLP in connection with statutory and regulatory filings or
engagements for such years were $192,071 and $226,895, respectively.
Audit-Related Fees
The aggregate fees billed by PricewaterhouseCoopers LLP for the fiscal years ended December 31, 2009 and 2008 for assurance and related services rendered by it that are reasonably related to the performance of the audit or review of the Registrant's
financial statements and are not reported above as audit fees were $39,000 and $39,000, respectively. Professional services provided in 2009 and 2008 consisted of quarterly review of unaudited interim consolidated financial statements.
Professional services provided in 2009 and 2008 consisted of quarterly review of unaudited interim consolidated financial statements.
Tax Fees
The aggregate fees billed by PricewaterhouseCoopers LLP for the fiscal years ended December 31, 2009 and 2008 for professional services rendered by it for tax compliance, tax advice, tax planning and other services were $12,500 and $25,601,
respectively.
All Other Fees
The aggregate fees billed by PricewaterhouseCoopers LLP for the fiscal years ended December 31, 2009 and 2008 for services provided by PricewaterhouseCoopers LLP, other than the services reported in the preceding three paragraphs, were $87,583
and $Nil, respectively. Such services included the auditing of certain intercompany transactions and due diligence for the takeover bid.
Audit Committee Pre-Approval Policies and Procedures
All audit and non-audit services performed by the Registrants external auditor must be pre-approved by the audit committee of the Registrant.
I.
Off-Balance Sheet Arrangements
The Registrant is not a party to any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on its financial condition, changes in financial condition, revenues or expenses, results of operations,
liquidity, capital expenditures or capital resources that is material to investors.
J.
Tabular Disclosure of Contractual Obligations
As of the fiscal year ended December 31, 2009, the Registrant had normal trade payables only, and does not have any material future contractually committed calls on its cash.
K.
Identification of the Audit Committee
The Registrant has a separately designated standing Audit Committee. The members of the Audit Committee are Dale C. Peniuk (Chair), Richard P. Clark, G. Ross McDonald and David G. Unruh. Each member of the Audit Committee is "independent" within the
meaning of applicable SEC regulations and the listing standards of NYSE AMEX, and each is financially literate and financially sophisticated.
L.
Critical Accounting Policies
[See "Management's Discussion and Analysis Accounting Estimates, Policies and Standards," included in Exhibit 1.2 to this Annual Report.]
M.
NYSE AMEX Exemption
In connection with the Registrant's initial application to list its common shares on the American Stock Exchange (now the NYSE AMEX) in 2006, the Registrant requested, and was granted, a waiver, pursuant to the first paragraph of Section 110 of the
NYSE AMEX Company Guide, from the quorum requirement set forth in Section 123 of the NYSE AMEX Company Guide. The exemption was granted on the basis that the Registrant's existing quorum requirement complies with Canadian law and is consistent with
Canadian business practices. Under the Registrant's bylaws, the quorum requirement for the transaction of business at a meeting of shareholders is a minimum of two persons who are, or who represent by proxy, shareholders who, in the aggregate, hold
at least 5% of the issued shares entitled to be voted at the meeting. The Registrants quorum requirements are not prohibited by the requirements of the
Business Corporations Act
(British Columbia) and the Registrant intends to continue
to comply with the requirements of the
Business Corporations Act
(British Columbia). The rules of the Toronto Stock Exchange, upon which the common shares are also listed, do not contain a specific quorum requirement.
N.
Interactive Data File
The Registrant is not currently required to submit to the SEC, nor to post on its corporate Web site, an Interactive Data File.
UNDERTAKING AND CONSENT TO SERVICE OF PROCESS
A.
Undertaking
The Registrant undertakes to make available, in person or by telephone, representatives to respond to inquiries made by the SEC staff, and to furnish promptly, when requested to do so by the SEC staff, information relating to the securities in
relation to which the obligation to file an annual report on Form 40-F arises or transactions in said securities.
B.
Consent to Service of Process
The Registrant has previously filed with the SEC a Form F-X in connection with its common shares. Any change to the name or address of the Registrant's agent for service of process shall be communicated promptly to the SEC by an amendment to the
Form F-X.
EXHIBITS
The following exhibits are filed as part of this Annual Report:
Number
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Document
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1.1
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Annual Information Form for the year ended December 31, 2009
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|
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1.2
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Managements Discussion and Analysis for the year ended December 31, 2009
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|
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1.3
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Audited Consolidated Financial Statements for the year ended December 31, 2009 and 2008, prepared in accordance with Canadian generally accepted accounting principles and reconciled to United States generally accepted accounting
principles in accordance with Item 17 of Form 20-F, together with the report of the auditors thereon
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23.1
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Consent of PricewaterhouseCoopers LLP
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23.2
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Consent of John Drobe, P. Geo.
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23.3
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Consent of John Hoffert, P. Eng.
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23.4
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Consent of Robert Fong, P. Eng.
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23.5
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Consent of Jeremy P. Haile, P. Eng.
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23.6
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Consent of Jay Collins, P. Eng.
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31.1
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Certification of Chief Executive Officer (Principal Executive Officer) pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
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31.2
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Certification of Chief Financial Officer (Principal Financial Officer) pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
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32.1
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Certification of Chief Executive Officer (Principal Executive Officer) and Chief Financial Officer (Principal Financial Officer) pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
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SIGNATURE
Pursuant to the requirements of the Exchange Act, the Registrant certifies that it meets all of the requirements for filing on Form 40-F and has duly caused this annual report to be signed on its behalf by the
undersigned, thereto duly authorized.
CORRIENTE RESOURCES INC.
Dated: March 23, 2010
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By:
/S/ DARRYL F. JONES
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By:
Darryl F. Jones
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Title: Chief Financial Officer
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EXHIBIT INDEX
Number
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Document
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1.1
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Annual Information Form for the year ended December 31, 2009
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|
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1.2
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Managements Discussion and Analysis for the year ended December 31, 2009
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|
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1.3
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Audited Consolidated Financial Statements for the year ended December 31, 2009 and 2008, prepared in accordance with Canadian generally accepted accounting principles and reconciled to United States generally accepted accounting
principles in accordance with Item 17 of Form 20-F, together with the report of the auditors thereon
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23.1
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Consent of PricewaterhouseCoopers LLP
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|
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23.2
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Consent of John Drobe, P. Geo.
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|
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23.3
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Consent of John Hoffert, P. Eng.
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23.4
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Consent of Robert Fong, P. Eng.
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23.5
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Consent of Jeremy P. Haile, P. Eng.
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23.6
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Consent of Jay Collins, P. Eng.
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31.1
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Certification of Chief Executive Officer (Principal Executive Officer) pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
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|
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31.2
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Certification of Chief Financial Officer (Principal Financial Officer) pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
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32.1
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Certification of Chief Executive Officer (Principal Executive Officer) and Chief Financial Officer (Principal Financial Officer) pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
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