TORONTO, ONTARIO--(Marketwire - Dec. 15, 2011) - Cathay Forest Products Corp. ("Cathay Forest")(TSX VENTURE:CFZ) today announces that it has received notice from the Compliance & Disclosure department of the TSX Venture Exchange indicating that, effective at close of market on February 1, 2012, the common shares of Cathay Forest will be de-listed unless: (i) the outstanding cease trade orders issued against Cathy Forest have been revoked; and (ii) all outstanding financial statements, management's discussions and analysis and related documents have been filed with the appropriate regulatory authorities.
There can be no assurance that Cathay Forest will be able to achieve compliance within the required time frame. Nevertheless Cathay Forest is committed to diligently work closely with the regulatory authorities, the TSX Venture Exchange and its professional advisors to not only address the delisting deadline above, but to address all outstanding TSX Venture Exchange requirements in order to restore trading prior to February 1, 2012. Cathay Forest's board of directors and management are also in the process of evaluating the options available to Cathay Forest, including requesting that the decision of the TSX Venture Exchange be reviewed or appealed as well as alternative listing options.
About Cathay Forest Products
Cathay Forest is a forest products company that manages approximately 1,000,000 hectares of standing timber properties and fast-growth, high-yield poplar plantations in China and Russia. Cathay Forest is building a world-class forest products company through a customer base that includes the domestic Chinese pulp and paper industry and other wood products customers in the Japanese market.
Forward-Looking Statements
All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the future plans and objectives of Cathay Forest. Actual results and future events could differ materially from those anticipated in such statements. Except as required under applicable securities laws, Cathay Forest assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
Luc Perron, CA
Chief Financial Officer
(416) 226-7269
luc.perron@cathayforest.com