Vancouver, May 1, 2017: Fortuna Silver Mines Inc. (“Fortuna” or the “Company”) (NYSE: FSM) (TSX: FVI) today provided an update on the regulatory review of the Company’s 2015 annual filings by the United States Securities and Exchange Commission (the “SEC”).
As previously announced, Fortuna is delayed in filing its annual audited financial statements and related MD&A for the years ended December 31, 2016 and 2015, the related Chief Executive Officer and Chief Financial Officer certificates, and its annual information form for the year ended December 31, 2016 (collectively, the “Annual Financial Documents”) due to a review by the SEC of the Company’s use of inferred resources for the calculation of depletion expense in its audited financial statements contained in the Annual Report on Form 40-F for the year ended December 31, 2015 (the “SEC Comments”). In connection with the delayed filing of the Annual Financial Documents, the Company applied for and received a management cease trade order (“MCTO”) from the British Columbia Securities Commission and other Canadian provincial securities regulatory authorities (collectively, the “Securities Regulators”). The MCTO prohibits certain executive officers of the Company from trading in securities of the Company until the Company completes the required filing of the Annual Financial Documents.