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Company News Releases...
Pacific Booker Minerals Inc. Clarifies “Emphasis Of Matter” In Auditors
Report
Vancouver BC, June 27, 2012: In the Company’s audited financial
statements filed in May, 2012, for the year ended January 31, 2012, in
accordance with Canadian auditing standards, the auditor's report contained a
paragraph titled Emphasis of Matter:
The report from the Auditors stated: “Without qualifying our opinion, we draw
attention to Note 2 of these financial statements, which states that Pacific
Booker Minerals Inc. incurred significant losses from operations, negative cash
flows from operating activities and has an accumulated deficit. This, along with
other matters described in Note 2, indicates the existence of a material
uncertainty which may cast doubt about the ability of Pacific Booker Minerals
Inc. to continue as a going concern.
Under the rules of the NYSE Amex Stock Exchange any such note in an auditor's
report is required to be announced. The Emphasis of Matter paragraph is required
to be included in Canadian audit reports for companies which do not have
positive cash flows presently or in the short term.
As a result the auditors' report dated May 7, 2012, the company's 2012 financial
statements includes this Emphasis of Matter paragraph as the company is an
exploration-stage enterprise and its liquidity is ultimately dependent on its
ability to obtain necessary financing as required, developing or selling its
exploration properties, and ultimately achieving profitable operations.
The Company currently has approximately $2 million in working capital.
The Company held its Annual General Meeting on June 11, 2012 at the Company’s
corporate office in Vancouver. All nominated directors were re-elected to the
board and all resolutions passed with 38.5% of our issued shares represented.
The Company would also like to advise any interested party that our financial
statements are available for downloading on our corporate website at http://www.pacificbooker.com/financials.htm,
or if you would prefer a hard copy sent by regular mail service, we have
provided an area on that page where you can request a copy by regular mail. That
option requires that you provide the details needed for mailing. The details
provided will not be used for any purpose other than the mail out of the
requested documents.
For information regarding Pacific Booker Minerals Inc., and to view our
Khandaker and Standard & Poor’s reports, our 3D animations of the Morrison ore
body and site plan, please visit our website home page at http://www.pacificbooker.com
.
If you would like to be added to our email newsgroup, please send your request
by email to info@pacificbooker.com.
On Behalf of the Board of Directors
“John Plourde”
John Plourde, Director
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