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Re: News Releases - Thursday, September 24, 2009
VERONA DEVELOPMENT CORP. - CEASE TRADE ORDER PENDING FILING OF
YEAR END FINACIAL STATEMENTS
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Vancouver, British Columbia, September 24, 2009 -- Verona Development
Corp. (TSX.V: VDC) provides an update on its progress in the filing of
a comparative financial statement and the related Management Discussion
& Analysis (together the "Statements") for its financial year ended
March 31, 2009, and interim period ended June 30, 2009. The Company
has completed the Statements for the year ended March 31, 2009 and has
turned over the Statements to its auditor, Charlton & Company, with the
intention of filing the Statements as soon as the audit has been
completed. The Company will file the Statements for the interim period
ended June 30, 2009 promptly thereafter.
A Cease Trade Order (the "CTO") has been issued in respect of its
securities by the British Columbia Securities Commission. The
Company's shares remain suspended by the TSX Venture Exchange (the
"Exchange"). The Company's shares will be reinstated for trading only
after the Cease Trade Order is revoked and the Exchange is satisfied
that the Company meets Tier Maintenance Requirements ("TMR") and other
requirements of the Exchange. The Exchange has advised that if the CTO
is not revoked or if the Company's shares are not reinstated for
trading on Tier 2 by November 9, 2009, the Exchange will transfer the
securities of the Company to the NEX on November 9, 2009. The Company
is currently working on the Statements with its auditors and intends to
apply to the Exchange for reinstatement prior to November 9, 2009.
On Behalf of the Board of Directors
Verona Development Corp.
Signed "Rod Husband"
Rod Husband, P.Geo
Director
Contact:
Investor Relations: (604) 681-4653 or 1-866-282-8398
Email: info@veronacorp.com (Email address obfuscated: enable JavaScript
to view) or visit our Website: www.veronacorp.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements including but
not limited to comments regarding the timing and content of upcoming
work programs, geological interpretations, receipt of property titles,
potential mineral recovery processes, etc. Forward-looking statements
address future events and conditions and therefore, involve inherent
risks and uncertainties. Actual results may differ materially from
those currently anticipated in such statements.
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Copyright (c) 2009 VERONA DEVELOPMENT CORP. (VDC) All rights reserved.
For more information visit our website at http://www.veronacorp.com/
or send mailto:info@veronacorp.com
Message sent on Fri Sep 25, 2009 at 9:18:33 AM Pacific Time
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Verona Development Corp.
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CODE : VDC.V |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Verona Development is a oil development stage company based in Canada. Verona Development produces oil, natural gas in China, and holds various exploration projects in Canada. Its main asset in production is SHILOUBEI CBM in China and its main exploration property is GAINSBOROUGH SOUTH in Canada. Verona Development is listed in Canada. Its market capitalisation is CA$ 1.6 millions as of today (US$ 1.6 millions, € 1.2 millions). Its stock quote reached its highest recent level on May 31, 2006 at CA$ 1.40, and its lowest recent point on December 04, 2008 at CA$ 0.05. Verona Development has 32 964 717 shares outstanding. |