Fareport Capital Inc. Update.TORONTO -- Fareport Capital Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:CAB) - Fareport Capital Inc. ("Fareport" or the "Company") wishes to update its shareholders and other stakeholders in compliance with its obligations pursuant to Ontario Securities Commission The Ontario Securities Commission (OSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of Ontario. The OSC is an Ontario Crown corporation which reports to the Ontario legislature through the Minister of Finance. ("OSC O.S.C. n. short for Order to Show Cause. (See: Order to Show Cause) ") Policy 57-603. The Company reports that the restatement of its financial results for the fiscal years ended July 31, 2004 and July 31, 2005 is still in progress and that the results of the restatement and related audit will be released early in the new year as previously announced. Furthermore, the imposition of a temporary management and insider cease trade order (the "MCTO MCTO Metropolitan Council Transit Operations (Minneapolis/St. Paul, MN, USA) MCTO Material Cost Take Out MCTO Monthly Cash Thru Options ") pursuant to OSC Policy 57-603 continues to be in effect. The MCTO prohibits present and certain past directors, officers and insiders of Fareport from trading in securities of Fareport. With respect to the previously announced agreement to settle the civil claim against Fareport's former management, advisors and certain investors, there are no further developments to report at this time. The agreement remains subject to regulatory approval. Fareport will continue to provide updates on these and related matters in accordance with OSC Policy 57-603. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. does not accept responsibility for the ad equacy or accuracy of this release. Fareport Capital Inc. (TSX VENTURE:CAB) |
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