Northland Provides Default Status Update
Luxemburg, April 11, 2013 – Northland Resources S.A. (OSE: NAUR, Frankfurt: NPK, First North/Nasdaq: NAURo – together with its subsidiaries, “Northland” or “the Company”) provides this bi-weekly Default Status Report under National Policy 12-203 – Cease Trade Orders for Continuous Defaults (“NP 12-203”).
On March 28, 2013, the Company announced that the filing of its audited financial statements and associated management discussion and analysis (collectively, the “Annual Filings”) for the fiscal year ended December 31, 2012, would not be completed by the filing deadline set by Canadian securities laws.
As a result of this delay in filing the Annual Filings and the application by the Company for a management cease trade order (a “MCTO”), the Ontario Securities Commission issued a temporary MCTO, which imposes certain restrictions on the issuance and acquisition of securities of insiders and/or employees of the Company until the Company files the Annual Filings and related CEO and CFO certificates. The MCTO will not affect the ability of persons who are not insiders or employees of Northland to trade their securities.
Pursuant to the provisions of the alternative information guidelines specified by NP 12-203, the Company reports that, since the issuance of its default announcement on March 28, 2013, except as stated in this Default Status Report, there have not been any material changes to the information contained therein; nor any failure by the Company to fulfill its intentions as stated therein with respect to satisfying the provisions of the alternative information guidelines; and there are no additional defaults or anticipated defaults subsequent to the disclosure therein, other than the delay in filing the Annual Filings and related CEO and CFO certificates. Further, there is no additional material information respecting the Company and its affairs that has not been generally disclosed.
Until the required Annual Filings and related CEO and CFO certificates are filed, the Company intends to continue to satisfy the provisions of the alternative information guidelines specified by NP 12-203 by issuing bi-weekly Default Status Reports in the form of news releases. The Company intends to file, if required, its next report on or about April 25, 2013.
President & CEO, Northland Resources S.A.
For more information, please contact:
Eva Kaijser, CFO, +46 709 320 901
Anders Antonsson, Vice President – Investor Relations: +46 709 994 970
Web site: www.northland.eu