I blame Dan for this also.
2010 BCSECCOM 589
Variation of Cease Trade Order
Sarissa Resources Inc.
Sections 164 and 171 of the Securities Act, R.S.B.C. 1996, c. 418
¶ 1 On June 17, 2010, the Executive Director ordered (the Cease Trade Order) under
section 164 of the Act that trading in the securities of Sarissa Resources, Inc. (the
Company) cease until the Company files a technical report that supported its
previous disclosure of a mineral resource estimate on its Nemegosenda Project in
Ontario and the Executive Director makes an order under section 171 of the Act
revoking the Cease Trade Order.
¶ 2 The Company’s name should have been shown as Sarissa Resources Inc.
¶ 3 The Company has filed a technical report that does not support the Company’s
previous mineral resource estimate. By news release dated October 5, 2010, the
Company retracted its previous mineral resource estimate and has revised and
updated its technical disclosure on the Nemegosenda Project.
¶ 4 The Company is an OTC reporting issuer under BC Instrument 51-509 Issuers
Quoted on the U.S. Over-the-Counter Markets because since September 15, 2008,
investor relations activities have been conducted by it or on its behalf in or from
British Columbia.
¶ 5 The Company has failed to file:
1. interim financial statements for the interim periods ended September 30, 2008,
March 31, 2009, June 30, 2009, September 30, 2009, March 31, 2010 and
June 30, 2010, as required under Part 4 of National Instrument 51-102
Continuous Disclosure Obligations (NI 51-102) and section 5(b) of BCI 51-
509,
2. comparative annual financial statements for its financial years ended
December 31, 2008 and December 31, 2009, as required under Part 4 of NI
51-102 and section 5(b) of BCI 51-509,
3. Form 51-102F1 Management's Discussion and Analysis for the periods ended
September 30, 2008, December 31, 2008, March 31, 2009, June 30, 2009,
September 30, 2009, December 31, 2009, March 31, 2010 and June 30, 2010,
as required under Part 5 of NI 51-102 and section 5(b) of BCI 51-509, and 4. Form 51-102F2 Annual Information Form for the years ended
December 31, 2008 and December 31, 2009, as required under section 5(c) of
BCI 51-509
(the required records).
¶ 6 Under section 171 of the Act, the Executive Director varies the Cease Trade Order
to:
1. reflect the proper spelling of the Company’s name: Sarissa Resources Inc.,
2. delete paragraphs 3, 4 and 5, and
3. amend paragraph 6 to delete section 1 and to substitute “it files the required
records completed in accordance with the Act and regulations” therefor.
¶ 7 October 15, 2010
John Porges
Manager
Corporate Finance
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