Loading ...TORONTO, March 27, 2020 (GLOBE NEWSWIRE) — McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) reports that it has fallen below the New York Stock Exchange (“NYSE”) continued listing requirement related to the price of its common stock. The NYSE requires that the average closing price of a listed company’s common stock be above US$1.00 per share, calculated over a period of 30 consecutive trading days. The Company was notified by the NYSE on March 24, 2020 that the average price of its common stock for the previous 30 trading days was below US$1.00 per share.
McEwen Mining intends to take steps to regain compliance of the NYSE continued listing requirements. Under the NYSE’s rules, the Company has a period of six months to bring its share price and 30-day average closing share price back above US$1.00. During this period, the Company’s common stock will continue to trade on the NYSE, subject to all other continued listing requirements. At the end of the six-month remedy period, if the share price has not recovered, the Company’s stock will be subject to NYSE suspension and delisting procedures. The Company’s listing on the Toronto Stock Exchange (“TSX”) is unaffected by any actions of the NYSE.