TORONTO, Aug. 10, 2012 /CNW/ - Canada Iron announces that it will restate and refile its financial statements for the quarters ended Oct 31 2011 and January 31 2012. The statements were previously filed under private company accounting standards in contravention of current rules. The company has converted the statements and refiled as of August 8 2012. to be compliant with IFRS accounting standards. The previously filed financial statements for the quarters Oct 31 2011 and January 31 2012 should not be relied upon. SOURCE Canada Iron Inc.