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Almaden Minerals Announces Receipt of Notification of NYSE American Listing Deficiency
VANCOUVER, British Columbia, April 21, 2023 (GLOBE NEWSWIRE) -- Almaden Minerals Ltd. (“Almaden” or “the Company”; TSX: AMM; NYSE American: AAU) announces that
About this update from Almaden Minerals Ltd.
[{"type":"text","content":" VANCOUVER, British Columbia, April 21, 2023 (GLOBE NEWSWIRE) -- Almaden Minerals Ltd. (“Almaden” or “the Company”; TSX: AMM; NYSE American: AAU) announces that it has received a notification letter (“Letter”) from NYSE American LLC (“NYSE American”) stating that Almaden is not in compliance with the continued listing standards because the Company’s securities have been selling for a low price per share for a substantial period of time which NYSE American determines to be a 30-trading-day average price of less than US$0.20 per share. Pursuant to Section 1003(f)(v) of the NYSE American Company Guide, the NYSE American staff determined that the Company’s continued listing is predicated on it effecting a reverse stock split of its common stock or otherwise demonstrating sustained price improvement within a reasonable period of time which the staff determined to be no later than October 19, 2023. The Letter has no immediate effect on the listing or trading of the Company’s common stock, which will continue to trade on the NYSE American under the symbol “AAU”. The Letter and NYSE American non-compliance also have no impact on the continued trading of the Company’s common stock on the Toronto Stock Exchange under the symbol “AMM”. The Company’s receipt of the Letter does not affect the Company’s business, financial condition, operations or reporting requirements with the Securities Exchange. Almaden is considering its alternatives with respect to the requirement that it regain compliance with the NYSE American’s continued listing standards with the cure period. About Almaden Almaden Minerals Ltd. discovered the Ixtaca project in Puebla State, Mexico, in 2010. Almaden’s interest in the Ixtaca project is subject to a 2.0% NSR royalty held by Almadex Minerals Ltd. The Ixtaca deposit hosts a proven and probable reserve containing 1.38 million ounces of gold and 85.1 million ounces of silver (73.1 million tonnes grading 0.59 g/t Au and 36.3 g/t Ag). A report titled “Ixtaca Gold-Silver Project, Puebla State, Mexico NI 43-101 Technical Report on the Feasibility Study”, which was prepared in accordance with NI 43-101, is available under the Company’s profile on SEDAR and on the Company’s website. On Behalf of the Board of Directors, “J. Duane Poliquin” J. Duane PoliquinChairAlmaden Minerals Ltd. Safe Harbor Statement Certain of...