Lumina Copper and Lumina Royalty Announce Filing of Amended and Restated Carve-Out Financial Statements of Lumina Royalty
29 Luglio 2011 - 11:15PM
Marketwired
Lumina Copper Corp. ("Lumina Copper") (TSX VENTURE: LCC) and Lumina
Royalty Corp. ("Lumina Royalty") announce that they have today
filed amended and restated carve-out consolidated financial
statements for the years ended September 30, 2010 and 2009, and the
three month period ended December 31, 2010 (the "Amended Carve-Out
Statements") in respect of the royalty and other non-core assets
(the "Lumina Royalty Business") formerly owned by Lumina Copper
which were transferred to Lumina Royalty prior to the plan of
arrangement (the "Plan of Arrangement") involving Lumina Copper,
the shareholders of Lumina Copper and Lumina Royalty pursuant to
which Lumina Royalty became a reporting issuer. The original
carve-out consolidated financial statements for the years ended
September 30, 2010 and 2009, and the three month period ended
December 31, 2010 for the Lumina Royalty Business were filed as
Schedule "G" to Lumina Copper's information circular for the
special meeting of the shareholders of Lumina Copper held on June
7, 2011 for the approval of the Plan of Arrangement.
During the preparation of Lumina Royalty's consolidated
financial statements for the period ended June 30, 2011, it was
determined that certain historical costs incurred in October 2008
by Lumina Copper relating to the acquisition of the net smelter
royalty on Lumina Copper's Taca Taca property (the "Taca Taca
Royalty") had not been separately identified under the continuity
of interests basis of accounting. As a result, the Lumina Royalty
Business should have recognized the Taca Taca Royalty asset at a
carrying value of $849,744 (with an offsetting amount included in
the contribution from Lumina Copper) instead of $Nil.
Accordingly, the Amended Carve-Out Statements have been revised
as set out below:
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As previously
reported Adjustment Restated
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Consolidated Balance Sheet as at
December 31, 2010 (unaudited):
Other investments $ 3 $ 849,744 $ 849,747
Contribution from Lumina Copper
Corp. 8,713,213 849,744 9,562,957
Consolidated Balance Sheet as at
September 30, 2010:
Other investments 3 849,744 849,747
Contribution from Lumina Copper
Corp. $ 8,655,201 $ 849,744 $ 9,504,945
Consolidated Balance Sheet as at
September 30, 2009:
Other investments $ 34 $ 849,744 $ 849,778
Contribution from Lumina Copper
Corp. 8,480,732 849,744 9,330,476
Consolidated Statement of Cash
Flows for the year ended
September 30, 2009:
Financing activities 1,038,292 849,744 1,888,036
Investing activities $ 582,900 $ (849,744) $ (266,844)
The Amended Carve-Out Statements are available on Lumina Copper
and Lumina Royalty's SEDAR profiles at www.sedar.com.
LUMINA COPPER CORP.
Signed: "David Strang"
David Strang, President & CEO
LUMINA ROYALTY CORP.
Signed: "David Strang"
David Strang, President & CEO
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Lumina Copper Corp. and Lumina Royalty Corp. David
Strang President & CEO + 604 646 1880 + 604 687 7041 (FAX)
dstrang@luminacopper.com www.luminacopper.com
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