Mr. Scott Roswell reports
NYSE AMERICAN NOTIFIES GENERAL MOLY ABOUT LOW SHARE PRICE CONTINUED LISTING DEFICIENCY
General Moly Inc. on Sept. 12, 2019, received a deficiency letter from the NYSE American stock exchange, indicating that pursuant to Section 1003(f)(v) of the NYSE American company guide, the company's common stock has been selling for a low price per share for a substantial period of time. Accordingly, the letter states that the company must demonstrate an improved share price improvement or effect a reverse stock split of its common stock by no later than March 12, 2020, in order to maintain the listing of the company's common stock on the NYSE American.
The company will continue to consider opportunities that are in the best interests of the company and its stockholders, with respect to specific measures regarding the continued listing of the company's stock on the NYSE American. If the company is unable to regain compliance, the NYSE American will initiate procedures to suspend and delist the company's common stock. In the interim, the company's common stock continues to be listed on the NYSE American, under the trading symbol GMO, subject to the company's compliance with other continued listing requirements and subject to the trading price remaining above a required six-cent minimum per share. The NYSE American will add the designation of .BC to indicate that the company is below compliance with the listing standards set forth in the company guide. The NYSE American notification of continued listing deficiency does not affect the company's business operations or its reporting obligations under the Securities and Exchange Commission regulations.
About General Moly Inc.
General Moly is a United States-based molybdenum mineral exploration and development company listed on the NYSE American, recently known as the NYSE MKT and former American Stock Exchange, and the Toronto Stock Exchange under the symbol GMO. The company's primary asset, an 80-per-cent interest in the Mt. Hope project located in central Nevada, is considered one of the world's largest and highest-grade molybdenum deposits. Combined with the company's wholly owned Liberty project, a molybdenum and copper property also located in central Nevada, General Moly's goal is to become the largest primary molybdenum producer in the world.
© 2019 Canjex Publishing Ltd. All rights reserved.