Niko Receives Notice of Delisting Review by TSX
CALGARY, Alberta, Oct. 18, 2018 (GLOBE NEWSWIRE) -- Niko Resources Ltd. (“Niko” or the “Company”) announces that the Toronto Stock Exchange (“TSX”) has notified the Company that it is reviewing the Company's eligibility for continued listing on the TSX of the securities of the Company pursuant to Part VII of the TSX Company Manual (the “Manual”).
Specifically, TSX will be reviewing the Company with respect to continued listing criteria related to i) the Company’s financial condition and/or operating results, and ii) adequate working capital and appropriate capital structure. The Company has been granted 120 days to comply with all requirements for continued listing. If the Company cannot demonstrate that it meets all TSX requirements set out in Part VII of the Manual on or before February 15, 2019, the Company’s securities will be delisted 30 days from such date. There is no assurance that the Company will successfully regain compliance within this time period.
The Company's listed shares (TSX – “NKO”) and convertible notes (TSX – “NKO.NT”) remain trading on the TSX at this time. Should the Company not meet the continued listing criteria required pursuant to the TSX listing requirements within the permitted time frame, the Company will have the option to apply for listing on the TSX Venture Exchange.
The TSX notification does not affect the Company's business operations or applicable Canadian reporting requirements, and does not constitute an event of default under any of the Company's debt obligations.
For further information, please contact:
Niko Resources Ltd. (403) 262‐1020, Glen Valk, VP Finance & CFO, or visit the Company's website at
Forward-Looking Information
Certain statements in this press release constitute forward-looking information. Specifically, this press release contains forward looking information regarding a delisting review by the TSX. Such forward-looking information is based on a number of risks, uncertainties and assumptions, which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Undue reliance should not be placed on forward-looking information. Such forward-looking information reflects the Company's current beliefs and assumptions and is based on information currently available to the Company. This forward-looking information is based on certain key expectations and assumptions, many of which are not within the control of the Company. The reader is cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Actual results may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors and such variations may be material. Such risk factors include, but are not limited to, the Company’s ability to successfully maintain its listing and other risks discussed under the heading "Risk Factors" in the Company's Annual Information Form for the year ended March 31, 2018 and in the Company's public disclosure documents, and other factors, many of which are beyond the Company's control. Niko makes no representation that the actual results achieved during the forecast period will be the same in whole or in part as those forecast.
The forward-looking information included in this press release is expressly qualified in its entirety by this cautionary statement. The forward-looking information included herein is made as of the date of this press release and Niko assumes no obligation to update or revise any forward- looking information to reflect new events or circumstances, except as required by law.
