China Wind Power Provides Delisting Update
January 16 2014 - 10:06AM
Marketwired
China Wind Power Provides Delisting Update
TORONTO, ONTARIO--(Marketwired - Jan 16, 2014) - Further to a
news release disseminated by China Wind Power International Corp.
(TSX-VENTURE:CNW) (the "Company") on October 22, 2013, the Company
announced that the TSX Venture Exchange (the "TSXV") has agreed to
extend the Company's delisting date to the close of market on March
16, 2014 (the "Delisting Date"). The Company may avoid the
delisting of its shares if, prior to the Delisting Date, the
Company has (a) filed all outstanding financial statements on SEDAR
and with the applicable securities commissions; and (b) obtained a
revocation of all outstanding cease trade orders issued against the
Company.
As previously announced, the Company was issued a temporary
order (the "Cease Trade Order") by the Ontario Securities
Commission due to a delay in filing the Company's annual financial
statements for the financial year ended March 31, 2012, management
discussion and analysis relating to the annual financial
statements, interim financial statements for the three months ended
June 30, 2012, management discussion and analysis relating to the
interim financial statements and related certifications beyond the
prescribed dates. The TSXV suspended trading in the Company's
securities on October 3, 2012 as a result of the Cease Trade
Order.
The Company is working diligently with its auditors to resolve
the above cease trade orders and file all outstanding financial
statements as soon as possible. However, it is not certain that the
financial statements for the periods ended March 31, 2013, June 30,
2013 and September 30, 2013 will be filed by the Delisting
Deadline. The Company may apply to the TSXV for a further extension
of the Delisting Deadline, if required.
About China Wind Power International Corp.
China Wind Power International Corp. is an Ontario company that
is uniquely positioned to capitalize on the growing demand for wind
power in China. The Company indirectly holds the exclusive rights
for wind energy development in Du Mon County, Heilongjiang
Province, which has a demonstrated potential installed capacity of
1,150 MW of wind energy developable over an area of 612 square km.
While 1,150 MW represents the Company's long-term potential for
wind power in the area, its current plans are for building out
approximately 800 MW over five development phases. The Company's
common shares are listed on the TSX Venture Exchange under the
symbol "CNW".
Caution Regarding Forward-Looking Statements
Certain statements that are not historical facts made in this
press release may be forward-looking statements subject to risks
and uncertainties. Statements containing words such as "will",
"could", "expect", "may", "anticipate", "believe", "intend",
"estimate", "plan" and other similar expressions are
forward-looking statements that represent management's beliefs at
the time the statements are made and are based on certain factors
and assumptions including the ability of the Company to complete
the filing of its annual and interim financial statements and
respective management's discussion and analysis on a timely basis.
These forward-looking statements are subject to a variety of risks
and uncertainties and other factors that could cause actual events
to differ materially from those projected in forward-looking
statements. Important factors that could cause actual results to
differ materially from the Company's expectations including
uncertainties involving the completion of the Company's filing of
its annual and interim financial statements and respective
management's discussion and analysis and other risks and
uncertainties as more fully described in the Company's in the
regulatory filings with securities regulatory authorities, which
are available under the Company's profile at www.sedar.com. Readers
are cautioned that the foregoing lists of risks, uncertainties,
assumptions and other actors are not exhaustive; therefore, readers
should not place undue reliance on the forward-looking statements
contained herein. Except as required by applicable securities laws,
the Company undertakes no obligation to update any forward looking
statement to reflect events or circumstances after the date on
which such statement is made.
Neither 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.
China Wind Power International Corp.Wendell ZhangChief Financial
Officer416-916-4205wzhang@chinawindpowerinternational.comInvestor
RelationsTrevor Heisler(416)
500-8061trevor@heislercommunications.com
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