Niko Receives Notice of Delisting Review CALGARY, Alberta, Oct. 18, 2018 (GLOBE NEWSWIRE) -- Niko Resources Ltd. (“Niko” or the “Company”) announces that the Toronto Stock Exchange (“TSX”) has notified the Company that it is reviewing the Company's eligibility for continued listing on the TSX of the securities of the Company pursuant to Part VII of the TSX Company Manual (the “Manual”).
Specifically, TSX will be reviewing the Company with respect to continued listing criteria related to i) the Company’s financial condition and/or operating results, and ii) adequate working capital and appropriate capital structure. The Company has been granted 120 days to comply with all requirements for continued listing. If the Company cannot demonstrate that it meets all TSX requirements set out in Part VII of the Manual on or before February 15, 2019, the Company’s securities will be delisted 30 days from such date. There is no assurance that the Company will successfully regain compliance within this time period.
The Company's listed shares (TSX – “NKO”) and convertible notes (TSX – “NKO.NT”) remain trading on the TSX at this time. Should the Company not meet the continued listing criteria required pursuant to the TSX listing requirements within the permitted time frame, the Company will have the option to apply for listing on the TSX Venture Exchange.
The TSX notification does not affect the Company's business operations or applicable Canadian reporting requirements, and does not constitute an event of default under any of the Company's debt obligations.
For further information, please contact:
Niko Resources Ltd. (403) 2621020, Glen Valk, VP Finance & CFO, or visit the Company's website at www.nikoresources.com