NEW YORK Pure
Nickel Inc. will move to the TSX Venture Exchange next month in
response to its delisting from the Toronto Stock Exchange
The TSX placed
Toronto-based Pure Nickel under review May 7 for failing to
meet a minimum $3-million market capitalization listing
requirement, granting it 120 days to regain compliance (
amm.com, May 7). In June, Pure Nickel said it
remained confident it would pass the review (
amm.com, June 25).
But with Pure
Nickels shares trading at 3 cents on the TSX and missing
the review target of maintaining a 4.5-cent share price over 30
consecutive days, the exchange said Sept. 9 that it would
delist the common shares at the market close Oct. 9. The move
to the smaller TSX Venture Exchange will occur by early October
with "no disruption in the trading" of Pure Nickels
stock, it said.
"We have no control
over stock price and the resource market is tumultuous," Pure
Nickel spokeswoman Lisa Buchan told AMM.