Starrex Updates On Restatements And Refilings

(RTTNews) - Starrex International Ltd. said that it is currently in discussions with staff of the OSC regarding any comments which such staff may have regarding the refilings made to date.

Starrex noted that it intends to issue further bi-weekly status reports pending confirmation or other response from staff of the OSC regarding the refilings made to date or other conclusion to this process.

Starrex International filed on April 8, 2016 restated interim financial statements and a revised management's discussion and analysis or "MD&A" for the third-quarter ended September 30, 2015. This followed the filing on Friday, March 18, 2016 of restated audited financial statements and a revised MD&A for the Company for the year ended December 31, 2014 and the filings on March 24, 2016 and April 1, 2016 of restated interim financial statements and revised MD&As for the first and second quarters ended March 31, 2015 and June 30, 2015, respectively.

As previously indicated, the OSC issued a management cease trade order or "MCTO" prohibiting the Company's Chief Executive Officer and Chief Financial Officer from trading, directly or indirectly, in the securities of Starrex until two full business days following the receipt by the OSC of all filings that the Company is required to make under Ontario securities law or other order of the Director of the OSC. The MCTO did not affect the ability of persons who are not insiders of Starrex to trade its securities.