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GEOVIC MINING CORP. FILES (8-K) Disclosing Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing, Financial Statements and Exhibits

May 5, 2014



Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On May 1, 2014, Geovic Mining Corp. (the "Company") received notice (the "Notice") from the Toronto Stock Exchange (the "TSX") that the TSX is reviewing the Company's eligibility for the continued listing of its shares of common stock on the TSX (the "Continued Listing Review"). The TSX has granted the Company 30 days to demonstrate that it complies with all of the TSX continued listing requirements that are applicable to the Company. If the Company cannot demonstrate that it meets all such requirements on or before June 3, 2014, the Company's shares of common stock will be delisted from the TSX within 30 days from such date.

The TSX has advised the Company that the Continued Listing Review is being conducted in connection with the Company's issuance of promissory notes (the "Notes") to certain related parties in 2013 and the first quarter of 2014. Specifically, the Notice states that the Company failed to seek the TSX's prior approval of the Notes transaction and prior disinterested shareholder approval for the issuance of the Notes, in each case as required under the Section 501 (c) of the TSX Company Manual. The Notice also states that the Company appears to have breached the TSX's Timely Disclosure Policy for its failure to news release the key details of the Notes, including the interest rates, which the TSX does not believe are commercially reasonable.

The Company intends to provide the TSX with written submissions addressing the deficiencies identified in the Notice.

A copy of the press release announcing the Company's receipt of the Notice is attached hereto as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits: Exhibit No. Description

99.1 Press Release dated May 5, 2014. 2



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Source: Edgar Glimpses


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