China Shen Zhou Mining & Resources, Inc. Receives Notice from NYSE MKT LLC
BEIJING, April 22, 2013
BEIJING, April 22, 2013 /PRNewswire-FirstCall/ -- China Shen Zhou Mining &
Resources, Inc. (NYSE Amex: SHZ), today announced that on April 17, 2013,
China Shen Zhou Mining & Resources, Inc. (the "Company") received a letter
(the "Letter") from the NYSE MKT LLC (the "Exchange") advising that the
Company was no longer in compliance with Sections 134 and 1101 of the
Exchange's Company Guide (the "Company Guide") due to the Company's inability
to timely file its annual report on Form 10-K for the fiscal year ended
December 31, 2012 (the "Form 10-K"). In addition, the Company is also in
material violation of its listing agreement with the Exchange for not timely
filing the Form 10-K, and as such the Exchange is authorized (pursuant to
Section 1003(d) of the Company Guide) to suspend, and unless prompt corrective
action is taken, remove the Company's securities from the Exchange.
The Company is afforded the opportunity to submit a plan of compliance to the
Exchange by May 1, 2013 that demonstrates the Company's ability to regain
compliance with Sections 134 and 1101 of the Company Guide by July 16, 2013.
If the Company does not submit a plan of compliance, if the plan is not
accepted by the Exchange, or if the Company does not make progress consistent
with the plan if it is accepted, the Company will be subject to delisting
procedures as set forth in the Company Guide.
The Company has indicated its intention to submit a plan to the Exchange on or
before May 1, 2013 and believes it can provide the Exchange with a
satisfactory plan to show that it will be able to return to compliance with
Sections 134 and 1101 of the Company Guide.
About China Shen Zhou Mining & Resources, Inc.
China Shen Zhou Mining & Resources, Inc., through its subsidiaries, is engaged
in the exploration, development, mining, and processing of fluorite and
nonferrous metals such as zinc, lead, and copper in China. The Company has the
following principal areas of interest in China: (a) fluorite extraction and
processing in the Sumochaganaobao region of Inner Mongolia; (b) fluorite
extraction and processing in Jingde County, Anhui Province; (c)
zinc/copper/lead processing in Wulatehouqi of Inner Mongolia; and (d)
zinc/copper exploration, mining, and processing in Xinjiang.
For more information, please visit http://www.chinaszmg.com/.
Safe Harbor Statement
This press release may include certain statements that are not descriptions of
historical facts, but are forward-looking statements. Forward-looking
statements can be identified by the use of forward-looking terminology such as
"will," "believes," "expects," or similar expressions. These forward-looking
statements may also include statements about our proposed discussions related
to our business or growth strategy, which is subject to change. Such
information is based upon expectations of our management that were reasonable
when made but may prove to be incorrect. All of such assumptions are
inherently subject to uncertainties and contingencies beyond our control and
upon assumptions with respect to future business decisions, which are subject
to change. We do not undertake to update the forward-looking statements
contained in this press release. For a description of the risks and
uncertainties that may cause actual results to differ from the forward-looking
statements contained in this press release, see our most recent Annual Report
filed with the Securities and Exchange Commission (SEC) on Form 10-K, and our
subsequent SEC filings. Copies of filings made with the SEC are available
through the SEC's electronic data gathering analysis retrieval system (EDGAR)
China Shen Zhou Mining & Resources, Inc
SOURCE China Shen Zhou Mining & Resources, Inc.
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