Primero Receives NYSE Notice Primero Receives NYSE Notice
06:50 EST Tuesday, December 27, 2016
TORONTO, ON --(Marketwired - December 27, 2016) - Primero Mining Corp. ("Primero" or the "Company") (TSX: P)(NYSE: PPP) today announced that is has received formal notification from the New York Stock Exchange ("NYSE") of its non-compliance with the exchange's continued listing standards for minimum trading price.
Primero has formally replied to the NYSE notification with the Company's intention to restore compliance to the minimum share price criteria within the prescribed time frame. Primero expects to achieve re-compliance by delivering on a number of key strategic and operational initiatives, which include, but are not limited to:
- Reducing costs and returning operations to industry-leading profitability as historically reported at its flagship San Dimas mine;
- Delivering increased cash flow from its Black Fox mine with production focus on the high-grade Deep Central Zone;
- Exploring and identifying high quality mineral resources in and around our current mines and projects.
Primero is currently in compliance with all other NYSE continued listing standards. The NYSE notice does not affect the Company's normal business operations or the listing of its common shares, which will continue to trade on the NYSE under the symbol "PPP". The NYSE will assign the stock a ".BC" designation to signify that the Company is "below criteria" with regard to the NYSE continued listing standards.
The Company will continue to actively monitor its NYSE share price and evaluate all available options to cure this deficiency within the prescribed six-month time frame.