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Restatement of financial statements

Montréal, December 23rd,  2014 - Matamec Explorations Inc. (“Matamec” or the “Company”) announce that following comments expressed by the Autorité des marchés financiers (« AMF ») as part of its inspection program of continuous reporting, it’s financial statements for the year ended Decembre 31, 2013 ( including comparative figures for the year ended December 31, 2012) and its intermediate financial statements as at September 30, 2014 will be the object of a restatement relatively to the taking of participation of Toyotsu Rare Earth Canada Inc. (« TRECan ») in the Kipawa JV property.
The initial accounting treatment of the transaction which resulted in a gain on disposal of exploration and evaluation assets in the consolidated statements of operations will be reversed, the transaction will be presented as a farm-out contract. Consequently, the gains on disposal in the consolidated statements of operations will be reversed, the balance of the Kipawa JV property and the equity attributable to Matamec Explorations Inc.’s shareholders in the consolidated statements of financial position will be reduced.
The restated financial statements will be filed as soon as possible in 2015.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information please contact:
André Gauthier
Marcel Bergeron
President   Chief Financial Officer
Tél. : 514-844-5252   Tél. : 514-844-5252
Fax : 514-844-0550   Fax : 514-844-0550
Email : [email protected]
Website : www.matamec.com

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