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seafield resources ltd (SFF) Details

Seafield Resources Ltd., a development stage company, engages in the exploration, development, and mining of mineral properties in South America. It primarily explores for gold ores, as well as for silver ores. It has a 100% interest in the Quinchía gold project that includes 15 mining concessions covering an area of 6,042.8 hectares located in the Department of Risaralda, Colombia. The company also holds a 100% undivided interest in the Elora project that consists of 14 patented parcels of mining land and 1 license of occupation located in the Kenora Mining Division of Northwestern Ontario. Seafield Resources Ltd. is based in Toronto, Canada.

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seafield resources ltd (SFF) Key Developments

Seafield Resources Announces Transfer Of Listing From TSX Venture Exchange To NEX

In accordance with TSX Venture Policy 2.5, Seafield Resources Ltd. has not maintained the requirements for a TSX Venture Tier 2 company. Therefore, effective Wednesday, June 17, 2015, the Company's listing will transfer to NEX, the Company's Tier classification will change from Tier 2 to NEX, and the Filing and Service Office will change from Toronto to NEX. As of June 17, 2015, the Company is subject to restrictions on share issuances and certain types of payments as set out in the NEX policies. The trading symbol for the Company will change from SFF to SFF.H. There is no change in the Company's name, no change in its CUSIP number and no consolidation of capital. The symbol extension differentiates NEX symbols from Tier 1 or Tier 2 symbols within the TSX Venture market.

Seafield Resources Ltd. Receives Notice of Default and Notice of Intention to Enforce Security

Seafield Resources Ltd. announced that further to its July 23, 2014 news release, it did not make an interest payment of CAD 402,317 due July 15, 2014 under its debt facility agreement with RMB Australia Holdings Limited, as lender, and RMB Resources Inc., as agent. On August 28, 2014, the company received from RMB a Notice of Default and Notice of Intention to Enforce Security under section 244 of the Bankruptcy and Insolvency Act in respect of amounts owing under the Facility Agreement. The company is taking the notifications seriously and continues to review and consider its alternatives to resolve the situation. At present, there can be no assurance as to what, if any, alternatives might be pursued by the company.

Seafield Resources Mulls Strategic Alternatives

Seafield Resources Ltd. (TSXV:SFF) received default notice for RMB loan interest. The company is taking the notifications seriously and continues to review and consider its alternatives to resolve the situation.


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