TSX and NYSE-listed Platinum Group Metals reports that the NYSE American has notified the company that its plan to regain compliance with the continued listing requirements of the exchange has been accepted.
As previously disclosed, the company is not in compliance with the continued listing standards set forth in Sections 1003(a)(i), 1003(a)(ii) and 1003(a)(iii) of the NYSE American Company Guide with respect to stockholders’ equity, or in Section 1003(f)(v) of the Company Guide with respect to the selling price of the company’s common shares.
On June 21, 2018, the exchange notified Platinum Group Metals that it had accepted the company’s plan of compliance and granted the company an extension until November 23, 2018 to regain compliance with the requirements of Section 1003(f)(v) of the Company Guide and until October 10, 2019 to regain compliance with Sections 1003(a)(i), 1003(a)(ii) and 1003(a)(iii) of the Company Guide.
Platinum Group Metals is not currently in compliance with NYSE American listing standards, but its listing is being continued pursuant to an exception.
The company will be subject to periodic review by exchange staff during the extension period.
If Platinum Group Metals is not in compliance with the Company Guide by the applicable deadlines or if the Company does not make progress consistent with the plan during the plan period, exchange staff will initiate de-listing proceedings as appropriate.