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Northland Resources SA Announces Toronto Stock Exchange Decides to Delist Company's Common Shares


Monday, 18 Feb 2013 02:18am EST 

Northland Resources SA (Northland) announced that it has received a notice from the Toronto Stock Exchange (TSX) that TSX has decided to delist the Company's common shares effective at the close of market on TSX March 18, 2013, should the Company fail to meet the TSX requirements. The Continued Listings Committee of TSX has determined that the Company has failed to meet the continued listing requirements of the TSX, following the Company's decision to enter into corporate reconstruction for its three Swedish subsidiaries. The Company is currently working to obtain the adequate working capital and appropriate capital structure to secure its long-term operations. The Company is continuing its constructive discussions with its creditors and other stakeholders to secure funding for its short term, as well as its long-term operations. When this occurs, the Company currently intends to apply to TSX to have its common shares re-instated on TSX. TSX has resolved that Northland's common shares will remain suspended from trading on TSX until they are delisted on March 18, 2013. The Company's common shares have a dual listing on the Oslo Bors (OSE), ticker NAUR, and trading on OSE will continue at OSE's discretion. The Company intends to maintain its listing on OSE and will assist shareholders who wish to transfer their Northland common shares from trading on TSX, in a CDS position, to trading on OSE in the electronic position in Norway (VPS/Verdipapirsentralen). 

Company Quote

1.12
-0.02 -1.75%
6:56am EDT