Avalon Announces Voluntary Delisting from NYSE MKT

Avalon Rare Metals Inc. (TSX:AVL) announced its intention to file a Form 25 (Notification of Removal from Listing and/or Registration under Section 12(b) of the Securities Exchange Act of 1934) with the U.S. Securities and Exchange Commission to voluntarily withdraw its common shares from listing on the NYSE MKT LLC. Avalon expects to file the Form 25 on December 7, 2015.
As quoted in the press release:

The voluntary delisting from the NYSE MKT is a result of the Company being deemed to be not in compliance with the continued listing standards of the NYSE MKT, due to the Company’s recent low selling share price (see the Company’s news release dated August 5, 2015). In order to maintain the Company’s listing on the NYSE MKT, Avalon would have had to effect a share consolidation, which would have required approval by the Company’s shareholders at the upcoming annual general meeting (“AGM”) in February, 2016.
After many discussions with shareholders, the Board of Directors determined that a resolution for a share consolidation would not have secured sufficient support at the upcoming AGM, and may otherwise have been detrimental to the shareholders’ long term interest. Accordingly, the Company has chosen to delist its common shares from the NYSE MKT, rather than pursue a share consolidation.
Avalon’s common shares will continue to be listed on the Toronto Stock Exchange, which is one of the world’s premier stock exchanges for mineral exploration and development companies. U.S. shareholders should be able to trade their Avalon shares on the TSX through U.S. broker-dealers who have Canadian registered broker-dealer affiliates.