Stornoway receives notice of delisting review by TSX
26 August 2019
Stornoway Diamond Corporation announced today that the Toronto Stock Exchange (“TSX”) has notified the Corporation that it is reviewing the eligibility of the Corporation’s securities for continued listing on the TSX pursuant to Part VII of the TSX Company Manual (the “Manual”).
The Corporation is being reviewed under the TSX’s remedial review process and has been granted 120 days to comply with all requirements for continued listing. If the Corporation cannot demonstrate that it meets all TSX requirements set out in part VII of the Manual on or before December 20, 2019, the Corporation’s securities will be delisted 30 days from such date. The Corporation’s listed shares (TSX – “SWY”) and convertible debentures (TSX – “SWY.DB.U”) will continue to trade on the TSX during the remedial review process. There can be no assurance that the Corporation will successfully regain compliance with the TSX listing requirements within this time period, in which case the Corporation’s common shares and convertible debentures would cease to trade on the TSX and, as stated in the Corporation’s August 14 press release, may not continue to trade on any other trading platform.
The TSX notification and review does not affect the Corporation’s business operations or applicable Canadian reporting requirements.