Pearl Gold AG i.I.
Pearl Gold AG: Unclear financial situation at Wassoul’Or
Pearl Gold AG / Key word(s): Investment/Legal Matter 05.06.2014 16:43 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Unclear financial situation at Wassoul'Or - Pearl Gold AG to request special audit of Wassoul'Or's accounts - Pearl Gold AG has decided to legally challenge decisions made by Wassoul'Or Frankfurt, 5 June 2014. Pearl Gold (ISIN: DEOOOAOAFGF3). Own findings and information from various sources lead Pearl Gold to doubt the plausibility of some major balance sheet items of Wassoul'Or S.A. Pearl Gold therefore has decided to request a special audit of Wassoul'Or's accounts for the years 2011- 2013 and has appointed the relevant advisers. Furthermore, Pearl Gold has decided to legally challenge decisions made by Wassoul'Or's supervisory board and General Meetings in that period, especially the approval of the financial accounts. According to Malian commercial law Pearl Gold holds sufficient voting rights in Wassoul'Or in order to conduct these steps. At this point Pearl Gold lacks sufficient information to confirm the financial soundness of Wassoul'Or S.A. The above measures shall help bringing clarification. Pearl Gold AG Pearl Gold AG is a project developer and active investor listed in the General Standard of the Frankfurt Stock Exchange, based in Frankfurt. The company focuses on investments in West African exploration and mining corporations, especially in the field of gold and other precious metals. The first investment of Pearl Gold is the Malian mining company Wassoul'Or, in which Pearl Gold has a stake of 25 per cent. Wassoul'Or concentrates on the exploration and production of gold and runs the Kodiéran gold mine in the South of Mali. For further information as well as the securities prospectus visit http://www.pearlgoldag.com For Inquiries: MSL Financial Press@pearlgoldag.com Tel: +49 (0) 69 6612456 8327 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Certain information included in this news release constitutes "forward-looking statements". The words "expect", "plan", "will", "intend", "estimate" and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The Pearl Gold AG cautions the reader that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from the Company's estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. These risks, uncertainties and other factors include, but are not limited to, risks associated with the mining industry such as government regulation, environmental and reclamation risks, title disputes or claims, success of mining activities, future commodity prices, costs of production, possible variation in mineral reserves, mineral resources, grade or recovery rates, failure of plant, equipment or processes to operate as anticipated, accidents, labour disputes, the timing of estimated future production, capital expenditures, financial market fluctuations, requirements for additional capital, conclusions of economic evaluations, limitations on insurance coverage, risks associated with using third-party contractors and inflation. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law. 05.06.2014 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Pearl Gold AG Neue Mainzer Straße 28 60311 Frankfurt Germany Phone: +49 (0) 69 971097 555 Fax: +49 (0) 69 971097 202 E-mail: info@pearlgoldag.com Internet: www.pearlgoldag.com ISIN: DE000A0AFGF3 WKN: A0AFGF Listed: Regulierter Markt in Frankfurt (General Standard) End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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