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Management Cease Trade Order Issued
May 04, 2009 12:02PM
May 4, 2009
Mart Resources Inc.: Management Cease Trade Order Issued
CALGARY, ALBERTA--(Marketwire - May 4, 2009) - Mart Resources, Inc. (TSX VENTURE:MMT) ("Mart" or the "Corporation") announces that the Alberta Securities Commission has issued a management cease trade order ("MCTO") in respect of Mart's Chief Executive Officer and Chief Financial Officer arising out of Mart's inability to file its annual financial statements, management's discussion and analysis and CEO and CFO certificates (collectively, the "2008 Annual Financial Statements") by the filing deadline of April 30, 2009 as prescribed by National Instrument 51-102 - Continuous Disclosure Obligations.
Notwithstanding the issuance of the MCTO, the general investing public continues to be able to trade Mart shares, however, the Corporation's Chief Executive Officer and Chief Financial Officer are not able to trade Mart shares. Mart is now permitted to file 2008 Annual Financial Statements not later than June 30, 2009.
About Mart Resources:
Mart Resources Inc. is an independent, international petroleum company focused on drilling, developing and producing oil and gas from low-risk proven petroleum properties in Africa. The Company owns two drilling rigs, has strong local relationships and has formed joint venture partnerships with indigenous operators in Nigeria. Mart has acquired interests in and begun development of three onshore Nigerian oil fields.
Certain statements in this Press Release constitute forward-looking statements under applicable securities legislation. Such forward-looking statements involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels and timing of activity and achievements to differ materially from those expressed or implied by such information.