GREY:PCCLF - Post by User
Post by
humblebayon Jul 23, 2015 9:23am
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Post# 23952031
good news bad news?
good news bad news? Mr. Stephen Case reports
PHOSCAN PROVIDES UPDATE ON STRATEGIC REVIEW PROCESS AND ANNOUNCES TSX DELISTING REVIEW
The Toronto Stock Exchange has notified Phoscan Chemical Corp. that the TSX is reviewing the company's eligibility for continued listing, based on the company's level of active business operations. For the past few years the company has limited its expenditures on the Martison phosphate project due to market conditions. The company is being reviewed under the TSX remedial review process and has 120 days to comply with all requirements for continued listing. If the company cannot demonstrate that it meets all TSX continued listing requirements on or before Nov. 23, 2015, the company's securities will be delisted 30 days from such date. If the company is unable to satisfy TSX requirements, it will seek a listing on another Canadian stock exchange.
As previously announced, the board of directors initiated a strategic review process with a view to enhancing shareholder value and established a special committee to supervise the strategic review. The special committee is actively engaged in the strategic review and has engaged Cormark Securities Inc. to act as the company's financial adviser. The board of directors has deferred any decision concerning further activities at the company's Martison phosphate project while the strategic review process is continuing.
We seek Safe Harbor.
to me it's a good one.the annually burning cost will be much lower.