Trading Symbol: TSXV: VVV
CALGARY, May 21 /PRNewswire-FirstCall/ - Vannessa Ventures Ltd.
("Vannessa" or the "Company") announces its plans to file a Form 15F with
the United States Securities and Exchange Commission (the "SEC") to
voluntarily terminate the registration of its Common Shares under the
United States Securities Exchange Act of 1934. Vannessa expects the
termination to take effect no later than ninety days following the filing
of Form 15F. As a result of this filing, the Company will immediately stop
filing certain reports, including Form 20-F and Form 6-K, with the SEC.
As a TSX Venture Exchange listed reporting issuer, Vannessa will
continue to meet its Canadian continuous disclosure obligations through
filings with the applicable Canadian securities regulators. The Company's
filings can be found on the System for Electronic Document Analysis and
Retrieval ("SEDAR") at http://www.sedar.com.
The Company is not listed on any U.S. stock exchange and the
administrative burdens and costs associated with being a U.S. reporting
company, particularly with respect to the SEC Sarbanes-Oxley requirements,
have increased materially in the past few years. Vannessa maintains these
burdens and costs outweigh any benefits derived from the Company's foreign
issuer status with the SEC, particularly as the great majority of
Vannessa's shareholder base is Canadian.
Caution Regarding Forward-Looking Information and Statements
------------------------------------------------------------
Certain statements in this press release address future events and
conditions and, as such, involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the statements. These
factors include, among others, the inherent risks involved in the
exploration and development of mineral properties, the uncertainties
involved in interpreting drilling results and other geological data,
fluctuating metal prices, the possibility of project cost overruns or
unanticipated costs and expenses, uncertainties relating to the
availability and costs of financing needed in the future, the possibility
that all necessary governmental and regulatory approvals will not be
received, and the availability of a qualified workforce and third party
contractors necessary for the development and operation of a mine. The
Company undertakes no obligation to update these forward-looking
information or statements if circumstances or management's estimates or
opinions should change. The reader is cautioned not to place undue reliance
on forward-looking information or statements.
"signed"
John R. Morgan, President
VANNESSA VENTURES LTD.
"The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release."
Website: http://www.vannessa.com
CONTACT: Vannessa Ventures Ltd., Suite 220, 1010 - 1st Street S.W.,
Calgary, AB, T2R 1K4, Telephone: (403) 444-5191, Fax: (403) 444-5190
SOURCE Vannessa Ventures Ltd.
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CONTACT:
Vannessa Ventures Ltd., Suite 220, 1010 - 1st
Street S.W., Calgary, AB, T2R 1K4, Telephone: (403) 444-5191,
Fax: (403) 444-5190
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