Loading ...January 12, 2016
Rubicon Minerals Corporation Announces the NYSE MKT Notification of Suspension and Intent to Commence Delisting Proceedings
TORONTO, ONTARIO–(Marketwired – Jan. 12, 2016) – Rubicon Minerals Corporation (TSX:RMX)(NYSE MKT:RBY) (“Rubicon” or the “Company”) received notice, dated January 11, 2016, that the staff of NYSE Regulation, Inc. (“NYSE Regulation”) has determined to suspend trading immediately and commence proceedings to delist the Company’s common stock from NYSE MKT LLC (“NYSE MKT” or the “Exchange”). The Exchange notified the Company that it no longer complied with the continued listing standards as set forth in Section 1003 of the NYSE MKT Company Guide due to the low selling price of the Company’s common stock. Therefore, the Company’s securities are subject to being delisted from the Exchange.
NYSE MKT has informed the Company that the NYSE MKT will apply to the U.S. Securities and Exchange Commission (the “SEC”) to delist the Company’s common stock upon completion of all applicable procedures, including any appeal by Rubicon of the NYSE Regulation staff’s decision.
Rubicon’s common shares will continue to be listed on the Toronto Stock Exchange (“TSX”), one of the world’s premier stock exchanges for mining and exploration companies. U.S. shareholders will be able to trade their Rubicon shares on the TSX through U.S. broker-dealers who have Canadian registered broker-dealer affiliates. In addition, management expects that the Company’s common shares will continue to be quoted on the U.S. over-the-counter (“OTC”) markets following the delisting on the OTC Pink® under the ticker symbol “RBYCF”, which is operated by OTC Markets Group. There is no assurance that an active market in the common shares will develop on OTC Pink®.
The Company will continue to file reports with Canadian securities regulators and with the SEC under applicable federal securities laws.
RUBICON MINERALS CORPORATION
Michael Winship, Interim President and Chief Executive Officer