ALBUQUERQUE, N.M., Dec. 18, 2020 (GLOBE NEWSWIRE) -- Santa Fe Gold Corporation (OTC PINK: SFEG), (the “Company”) announced today that it is continuing to proceed with its plan to resume regular trading. The Company, because of not being current in its filings, was notified by the Securities & Exchange Commission (the “Commission”) that it was seeking de-registration of our common stock under Section 12 of the Securities Exchange Act of 1934 (the "Exchange Act"). The Company determined that the most expedient path was to settle with the Commission, agree to de-register our common stock (rather than spend the time and resources in litigating the matter), file a Form 10 registration statement to re-register our common stock under the Exchange Act, and work with a sponsor broker dealer to update our Form 15c-211 with FINRA. What transpired yesterday in the form of a trading halt was the result of the Company’s settlement agreement with the SEC being accepted. We plan to file the Form 10 registration statement shortly with the goal to become a reporting company under the Exchange Act, engage a broker dealer to sponsor our 15c-211, and to resume trading, all as soon as possible. SFEG Chairman Brian Adair stated, “Allowing our shareholders to trade the Company’s common stock is a priority for me and management, and existing shareholders can be assured that the expedient resumption of trading is of the utmost importance to us.”
About Santa Fe Gold
We are an exploration mining company engaged in the business of the acquisition and development of mines and mining properties as well as production from existing and developed mining and mineral properties.
Cautionary Note to Investors
The United States Securities and Exchange Commission ("SEC") limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce and that are compliant with SEC Industry Guide 7. Investors are cautioned not to assume than any part or all of the proposed project in the Black hawk Mining District as contemplated in the letter agreement contains any mineral deposits that will ever be converted into resources or that any inferred mineral resource or measured and indicated resources exists or is economically or legally mineable. The proposed project does not contain any known proven or probably ore reserves or mineral resource compliant with SEC Industry Guide 7 reporting standards. Investors are urged to consider closely the disclosure set forth in TMRC’s latest reports filed with the SEC.
Forward Looking Statements
This news release may contain Forward Looking Statements included within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether because of new information, future events or otherwise.