Press Release |
Cline Announces Filing of Amended and Restated Quarterly Financial Statements
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SUDBURY, ONTARIO, Jun 02 (MARKET WIRE) -- Cline Mining Corporation ("Cline" or the "Company") (TSX: CMK) announces that further to its news release dated October 12, 2007, the Company has completed the re-filing of amended and restated quarterly unaudited financial statements, including CEO and CFO Certifications and Management's Discussion and Analysis for the quarters ended February 28, May 31 and August 31, 2007. The adjustments were identified during a Continuous Disclosure Review by the Ontario Securities Commission ("OSC"). The restatements relate to the application of the Black-Scholes option pricing model, the adoption of the CICA recommendations pertaining to financial instruments and the reallocation of certain costs relating to the sale of the Company's subsidiary URAMAD S.A. and the acquisition of its interest in UMC Energy plc. None of the adjustments affect the Company's working capital and will have no effect on the Company's continuing operations. The restated continuous disclosure documents can be found at www.sedar.com. About Cline Cline Mining Corporation is a mine development company focused on the exploration and development of gold in Canada, uranium and iron-ore in Madagascar and metallurgical coal in Canada and the U.S. for the international seaborne coal trade market. CLINE MINING CORPORATION Ken Bates, President and Chief Executive Officer Contacts: Cline Mining Corporation Ken Bates President and Chief Executive Officer (647) 294-0102 Email: firstname.lastname@example.org Copyright 2008, Market Wire, All rights reserved. -0-