Painesville, Ohio, Dec. 3, 2015 (GLOBE NEWSWIRE) -- Gold Lakes Corp. (OTC Pink: GLLK) is pleased to announce that it has filed its year-end annual report for the fiscal year ended July 31, 2014 with the Securities and Exchange Commission and the OTC Markets.
"We are very pleased to have completed our year-end audit, thus providing value to shareholders and allowing management to further our business. I would like to thank our auditor and accounting department for having completed these tasks in a timely manner, in addition, I would be remiss if I didn't thank our shareholders for their patience and understanding as we worked quietly on the particulars," said Christopher Vallos, President and CEO of Gold Lakes Corp.
Mr. Vallos also commented, "We are also very excited about submitting the application to upgrade to OTC Markets' 'QB' designation. We expect that, if granted, this designation will facilitate an increased following of shareholders and brokers who prefer the QB's listing standards."
About OTC Markets' QB Designation
The OTCQB® Venture Marketplace is for entrepreneurial and development stage U.S. and international companies. To be eligible, companies must be current in their reporting and undergo an annual verification and management certification process. These standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for investors. Companies must meet a minimum $0.01 bid price test and may not be in bankruptcy. OTCQB criteria include:
· Companies are current in their reporting to a U.S. regulator or are listed on a qualified international stock exchange
· Minimum bid price test of $0.01 removes companies that are most likely to be the subject of dilutive stock fraud schemes and promotion
· Improved investor confidence through verified information, confirming that the Company Profile displayed onwww.otcmarkets.com is current and complete
· Annual management certification process to verify officers, directors, controlling shareholders, and shares outstanding
· Greater information availability for investors through the OTC Disclosure & News Service
About Gold Lakes Corp.:
Gold Lakes Corp. is an exploration stage company that specializes in acquiring and developing mining assets. The Company has entered into an Earn-In Agreement with Flex Mining Ltd. to acquire 100% of 6 Mining Claims, known as the "Big Monty" property, located in the prolific Abitibi Greenstone Belt region, in Ontario, Canada. The Big Monty property is bordered by producing gold mines and is situated within the Procupine-Destor Fault Zone "PDFZ" and Larder Lake Cadillac Fault Zone.
CEO & President
Forward Looking Statements:
This news release includes "forward looking statements", as that term is defined in Section 27A of the Unites States Securities Act of 1933, as amended, and Section 21E of the United States Exchange Act of 1934, as amended, that are subject to assumptions, risks and uncertainties. Statements in this news release that are not purely historical are forward looking statements, including without limitation any statements concerning the Company's intentions, plans, estimates, expectations or beliefs regarding the future. Although the Company believes that any forward looking statements in this news release are reasonable, there can be no assurance that any such forward looking statements will prove to be accurate. The Company cautions readers that all forward looking statements, including without limitation those relating to the Company's future operations and business prospects, are based on assumptions none of which can be assured, and are subject to certain risks and uncertainties that could cause actual events or results to differ materially from those indicated in the forward looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward looking statements.
Any forward looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward looking statements, or to update the reasons why actual events or results could or do differ from those projected in the forward looking statements. Except as required by law, the Company assumes no obligation to update any forward looking statements, whether as a result of new information, future events or otherwise.
SOURCE: Gold Lakes Corp.
CONTACT: Chris Vallos CEO & President Investor Relations: 216-408-9423 Info@goldlakes.com Source:Gold Lakes Corp.