BNP Resources Inc. has received notification that shares of the company will be transferred to NEX, effective the opening, August 12, 2014 and will remain suspended from trading. NEX is a separate board of the TSX Venture Exchange for companies previously listed, which have failed to maintain compliance with the ongoing financial listing standards.
NEX has been designed to provide a forum for publically listed shell companies, while they seek and undertake transactions in furtherance of their reactivations as companies which will carry on an active business.
The assets of BNP are the Jensen wellbores, $10 million in tax losses and a $355,000 deposit with the AER, to secure future abandonment of wellbores. Liabilities include a working capital deficiency of approximately $800,000 and abandonment liabilities on 9.5 wells.