VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 23, 2012) - As a result of Regal Resources Inc. (CNSX:RGR) (the "Company" or "Regal") failing to file its interim financial report and Management's Discussion and Analysis for the interim period ended April 30, 2012 within the prescribed time period, the British Columbia Securities Commission, Regal's principal regulator, ordered on July 11, 2012 that all trading in Regal's common shares cease until the interim financial report is filed. On July 13, 2012, the Ontario Securities Commission ordered that all trading in Regal's common shares cease for a period of 15 days, as a result of the continuous disclosure default.
Regal rectified the continuous disclosure default by filings on July 13, 2012 and, as amended, on July 19, 2012, and the British Columbia Securities Commission revoked its cease trade order on July 19, 2012, as a result of the filings by Regal.
Regal expects that the temporary order by the Ontario Securities Commission will lapse on or about Friday, July 27, 2012.
About Regal Resources Inc. (www.regalresinc.com):
Regal Resources Inc. is a junior mineral exploration and development company based in Vancouver, Canada. The Company is focused on the development and acquisition of copper projects in the prolific copper producing state of Arizona. The Company is currently focused on its advanced exploration copper/silver property, the Patagonia (Sunnyside) property, located near Nogales, Arizona. Regal Resources is listed on the Canadian National Stock Exchange (CNSX) under the symbol (RGR).
This news release contains certain statements that may be deemed "forward-looking statements". Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors should change.