Moly Mines Ltd. (TSX:MOL,ASX:MOL) announced that the Toronto Stock Exchange has told it that its common shares will be delisted at the end of July 4, 2014.
Moly Mines Ltd. (TSX:MOL,ASX:MOL) announced that the Toronto Stock Exchange has told it that its common shares will be delisted at the end of July 4, 2014. The company will continue to be listed on the Australian Securities Exchange, but its securities have been suspended from quotation on that exchange.
As quoted in the press release:
As previously reported on May 5, 2014 the TSX advised that the Company appeared to have ceased to be actively engaged in any ongoing business in accordance with section 710(a)(iii) of the TSX Company Manual. The Company was granted 30 days in which to regain compliance with these requirements pursuant to the Remedial Review Process. The Company has not regained compliance within this timeframe, and as such has been provided with the 30 day delisting notice.
As a part of ongoing cost savings initiatives, the Company will not seek to list on an alternative board in Canada. The Company will continue to abide by TSX regulations until the delisting is final and will remain a reporting issuer in Canada until further notice.