FERNDALE, Wash., Feb. 14, 2011 /PRNewswire/ -- Brookmount Explorations Inc. (OTC Bulletin Board: BMXI; FRANKFURT B6T) acknowledges that the British Columbia Securities Commission has issued a notice of hearing against the company, a former director and a present director. The allegations have not been proven and counsel has been retained to vigorously defend the company and the individuals named in the notice. As was previously announced in July 2007, the Commission issued a Cease Trade Order ("CTO") against the company on June 17, 2007. To the best of the company's knowledge, the CTO has no effect outside of British Columbia. The company will seek to have the CTO vacated in the course of the proceedings in British Columbia or otherwise.
Management believes that these matters do not affect Brookmount's ongoing endeavours with respect to project development and its current negotiations for project funding because the matters referred to above have been fully disclosed to the parties currently in negotiations with the company. The company will report further developments as they occur.
Safe Harbor: This news release may include forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities and Exchange Act of 1934, as amended with respect to achieving corporate objectives, developing additional project interests, the Company's analysis of opportunities in the acquisition and development of various project interests and certain other matters. These statements are made under the 'safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements.
SOURCE Brookmount Explorations Inc.