Celsius Resources Limited Regulatory News (CLA)

2 Oct 2006 17:47

Cordillera Resources PLC02 October 2006 2 October, 2006 CORDILLERA RESOURCES PLC ("Cordillera" or the "Company") Statement re Suspension Following the termination of the Share Purchase Agreement to acquire ContinentalPetroleum Limited on 21 June 2006, Cordillera was granted an extension by AIMallowing the Company to remain suspended until 2 October 2006. Subsequent to the withdrawal from this transaction the Company's Directors haveevaluated several other investment opportunities. However, due to being unableto perform satisfactory due diligence or as a result of the projects being at astage that did not suit the Company's strategy, it has not been possible tocomplete a transaction within the required timeframe. As a result, it isenvisaged that trading in the Company's shares on AIM will be cancelled at thestart of business on 3 October 2006. Since admission of the Company's shares to AIM, the Directors and Management ofthe Company have made a concerted effort to preserve shareholders funds withapproximately £1.25 million in cash being available for investment. The Directors of Cordillera remain strongly committed to the Company and arecurrently reviewing several potential opportunities which they believe aresuitable for investment and that will provide significant value for shareholderswith the ultimate intention being to seek re-admission to AIM when anappropriate investment has been made. Contact Details Mr Colin Orr Ewing Mr Greg Kuenzel Mr Hugh OramCordillera Resources Plc Cordillera Resources Plc Nabarro Wells & Co LimitedChairman Director Nominated Advisor +44 (0) 207 352 4117 +44 (0) 207 932 2442 +44 (0) 207 710 7400 This information is provided by RNS The company news service from the London Stock Exchange