Diaz Update on TSX Delisting ReviewDiaz Resources Ltd.
TSX :
DZR
June 20, 2011 07:00 ET
Diaz Update on TSX Delisting Review
CALGARY, ALBERTA--(Marketwire - June 20, 2011) -Diaz Resources Ltd (TSX:DZR) today announced that its recentlycompleted $8.0 million private placement should enable the Company tosatisfy the financial condition requirement for continued listing on theToronto Stock Exchange ("TSX") which was the primaryreason for a delisting review initiated by TSX on May 16, 2011. Inaddition, Diaz's audit committee does not meet the independencerequirements of the TSX and the Company will need to rectify thissituation to remain listed.
In November 2010, however, the Company filed a listing application with the TSX Venture Exchange ("Venture") which was put on hold in April 2011 as the Company worked to improve its financial position to qualify for the new listing.
Diazhas re-activated its application to have its common shares listed onthe Venture and will apply to voluntarily delist from TSX uponacceptance of its listing on the Venture. Listing of the Corporation'scommon shares on the Venture will be dependent on the Corporationsatisfying the minimum listing requirements of the Venture and suchother conditions to listing it may require.