Tickers: XTSE:SLY, XTSX:SLY.H
Tags: Mining
Vancouver, B.C., June 15, 2018 - Shelby Ventures Inc. (TSX-V: SLY.H) (the "Company" or "Shelby") announces that it has today filed amended and restated condensed interim financial statements for the period ended March 31, 2018 (the "Restated Financial Statements"), together with a corresponding amended and restated management's discussion and analysis (the "Restated MD&A") to correct a material classification error in its prior filing.
Upon a review of the Company's condensed interim financial statements for the period ended March 31, 2018, it was determined by management, and agreed to by the Company's auditors, BDO Canada LLP, Chartered Professional Accountants, that, the amount of $242,250 received by the Company in connection with the Company's private placement of units was incorrectly classified as "Shares Subscribed". As at March 31, 2018, the private placement was not yet completed and accordingly, the funds should be recorded and re-classified as Subscriptions for shares
The condensed interim financial statements for the period ended March 31, 2018 have been amended and restated to reflect the above classification. There is no impact to the condensed interim statements of operations and comprehensive loss or cash flow.
The Restated Financial Statements and Restated MD&A are available under the Company's profile on SEDAR at www.sedar.com. Each of the Amended Financial Reports replace and supersede the respective previously filed original financial statements and related management discussion and analysis. Such previously filed original financial statements and management discussion and analyses should be disregarded.
About Shelby
The Company is a Capital Pool Company, currently listed on the NEX Board of the Exchange. Management of the Company is actively engaged in assessing possible projects with a view to completing a Qualifying Transaction. Any proposed Qualifying Transaction must be approved by the Exchange and, in the case of a non arm's length Qualifying Transaction, must also receive majority approval of the minority shareholders. Until the completion of a Qualifying Transaction, Shelby will not carry on any business other than the identification and evaluation of businesses or assets with a view to completing a proposed Qualifying Transaction.
For further information please contact Tony Ricci at (604) 649-3231.
ON BEHALF OF THE BOARD
"Zula Kropivnitski"
Zula Kropivnitski
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
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