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Re: News Release - Thursday, August 09, 2007
Mano River Resources Inc. Changes Fiscal Year-End to December
31st
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Mano River Resources Inc., in accordance with the requirements of
Section 4.8(2) of National Instrument 51-102 in Canada, has decided to
change its fiscal year-end from its current date of January 31st to
December 31st. The reasons for the change to a year ended December 31st
are as follows:
1. The year-end for the company's subsidiaries is December 31st, as
required by the resident country regulations for the preparation of
financial statements for the calendar year. Therefore, the subsidiaries
prepare financial reports based on a fiscal period ending December
31st. The accounts of the subsidiaries are consolidated with the
accounts of Mano River Resources Inc. for financial reporting purposes.
Currently, the periods required for Mano's reporting based on a January
31st year-end do not match the periods prepared by the subsidiaries,
resulting in a complicated internal financial reporting system. Having
co-terminus fiscal periods will streamline the consolidation and
reporting process, and make it more efficient.
2. Mano's joint venture partners file financial reports based on a
fiscal year-end of December 31st. It will be more meaningful for Mano's
shareholders and investors to be able to compare financial results with
other companies in the same industry for the same reporting periods.
This parity can be achieved by changing Mano's fiscal year-end to
December 31st.
The following table sets forth the length of the periods, the ending
date of the periods, including the comparative periods, and filing
deadlines, for the Company's interim and annual financial statements to
be filed during its transition year and its new financial year.
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Period and Ending Date Length Filing Deadlines as Ending Date
as Prescribed
Comparative under
Section 4.2 and 4.4
for Period and the
Issuer's Transition
Year
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For quarter interim 3 June 29, 2007 3 months ended
financial statements for months
the period ended April
30, 2007
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April 30, 2006
For quarter interim 6 October 1, 2007 3 months and 6
financial statements for months months ended
the period ended July 31,
2007
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July 31, 2006
For quarter interim 9 December 31, 2007 3 months and 9
financial statements for months months ended
the period ended October October 31,
31, 2007 2006
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Audited financial 11 April 29, 2008 12 months ended
statements for the year months January 31,
ended December 31, 2007 2007
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First interim financial 3 May 30, 2008 3 months ended
statements for the period months
ended March 31, 2008
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April 30, 2007
Second interim financial 6 August 29, 2008 3 months and 6
statements for the period months months ended
ended June 30, 2008
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July 31, 2007
Third interim financial 9 December 1, 2008 3 months and 9
statements for the period months months ended
ended September 30, 2008 October 31,
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2007
Audited financial 12 April 30, 2009 11 months ended
statements for the year months December 31,
ended December 31, 2008 2007
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ENDS
For further information on Mano River Resources and its exploration
programme, you are invited to visit the Company's website at
www.manoriver.com or contact one of the following:
Mano River Resources Inc.
Tom Elder / Luis da Silva
Tel +44 (0) 1235 810 740
mano@manoriver.com
GMP Securities Europe LLP
James Hannon, an Appointed Representative of Panmure Gordon (UK)
Limited.
Tel +44 (0) 20 7459 3606
james.hannon@gmpeurope.com
Pelham PR Ltd
Charles Vivian
Tel +44 (0) 20 7743 6670
charles.vivian@pelhampr.com
James Macfarlane
Tel +44 (0) 20 7743 6375
james.macfarlane@pelhampr.com
View News Release on the web:
http://www.manoriver.com/s/NewsReleases.asp?ReportID=201826
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Copyright (c) 2007 MANO RIVER RESOURCES INC. (MANA) All rights
reserved. For more information visit our website at
http://www.manoriver.com/ or send mailto:releases@manoriver.com
Message sent on Fri Aug 10, 2007 at 6:52:28 AM Pacific Time
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