June 3, 2008
As of May 14, 2008, the shares of Prospector Consolidated Resources Inc. (the “Company”) have been halted for trading by the TSX - Venture Exchange as a result of a cease trade order issued by the British Columbia Securities Commision (the "BCSC"). The cease trade order occurred because the Company did not file its audited financial statements and corresponding MD&A for 2007 on time. The reason for this delay was administrative and all outstanding issues with regards to completing the 2007 audited financial statements have now been resolved. As of May 29, 2008, the audit committee had its final meeting with the auditors of the Company and all required materials have been prepared for filing. We are working with the respective regulatory bodies to have the cease trade order lifted.
The Company has reassigned Brian Stewart to secure financing on the Kalzas project for the upcoming drilling program in 2008. In order to focus his energies on this task he is resigning from the Board of Directors.
Henry Neugebauer, President and CEO of the Company and Brian Carlyle, a consultant of the Company, will be handling the day-to-day administrative and investor relations responsibilities moving forward.
For further information on the Company, please call our office at (604) 687-8863 or visit our web site at www.prospectorresources.com
On behalf of the Board,
Henry Neugebauer P.Eng.
President
This press release has been prepared by management; the TSX Venture Exchange has not reviewed
and does not accept responsibility for the adequacy or accuracy of this release. |
