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Entrée Resources Announces Intention to Voluntarily Delist from NYSE American, Applies to Have Shares Trade on OTCQB
Entrée Resources Announces Intention to Voluntarily Delist from NYSE American, Applie...
About this update from Entree Resources Ltd
[{"type":"text","content":"\n\n\n\nEntrée Resources Announces Intention to Voluntarily Delist from NYSE American, Applies to Have Shares Trade on OTCQB\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Sept. 9, 2019\n\n\n\nVANCOUVER, Sept. 9, 2019 /CNW/ - Entrée Resources Ltd. (TSX:ETG; NYSE American:EGI – the \"Company\" or \"Entrée\") today announces its intention to file a Form 25 (Notification of Removal from Listing and/or Registration under Section 12(b) of the Securities Exchange Act of 1934) (\"Form 25\") with the U.S. Securities and Exchange Commission (the \"SEC\") to voluntarily withdraw its common shares from listing on NYSE American LLC (\"NYSE American\"). The Company anticipates filing with the SEC a Form 25 on September 20, 2019 and expects the last day of trading on NYSE American to be on or about September 30, 2019 (approximately 10 days after filing the Form 25).\nThe Company has been evaluating its options with respect to its U.S. listing for some time. Following receipt of notice from NYSE American that the Company is not in compliance with the continued listing standards as set forth in Section 1003(a)(i), (ii) and (iii) of the NYSE American Company Guide (see the Company's news release dated August 16, 2019), and after careful consideration and a review of several options, the Board of Directors has determined that a voluntary delisting from NYSE American, and applying for a listing on a more suitable U.S. trading platform, is in the Company's best interests. Having regard to the business, finances and assets of Entrée, the price of Entrée's common shares on NYSE American, commodity prices, and the political and economic climate in which Entrée is currently operating, the Board of Directors is of the view that the potential negative impact to the Company and its shareholders from having to undertake dilutive corporate or other actions for the primary purpose of regaining compliance is not warranted, particularly when there are other lower cost trading platforms that provide similar liquidity and ...