Ram Power Corp. set under delisting review on Toronto Stock Exchange
San Jacinto power plant (source: Ram Power)
Francisco Rojas
27 Jan 2015
Ram Power announced today that it has been notified by the Toronto Stock Exchange (“TSX”) that it is being placed under delisting review in respect of its common shares and common share purchase warrants.
The TSX has advised the Company that it is reviewing whether the Company meets the TSX’s continued listing criteria in the following areas:
(i) the Company’s financial condition and operating results
(ii) whether the Company has adequate working capital and an appropriate capital structure
(iii) whether the Company’s common shares have an appropriate trading price and minimum public float
(iv) the fact that the Company has an interim chief executive officer (i.e. its Executive Chairman) and interim chief financial officer.
The Company is being reviewed under the TSX’s Remedial Review Process and has been granted an initial period of 120 days to comply with all requirements of the TSX for continued listing. If the Company is unable to demonstrate on or before May 25, 2015 that it meets the requirements for continued listing on the TSX, its securities will be delisted 30 days from such date. The Company will be working with the TSX throughout the review process to satisfy the continued listing requirements.
In the event the Company is unable to continue with the listing of its securities on the TSX, other listing alternatives exist for reporting issuers in Canada.
Source: Press Release by Ram Power
