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ORMI Confirms TSX Delisting Review
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ORMI Confirms TSX Delisting Review
Toronto, ON, April 7, 2009 - Organic Resource Management Inc. (TSX: ORI) ("ORMI" or "the Company"), confirmed today that the Toronto Stock Exchange ("TSX") is reviewing the eligibility for continued listing on the TSX of the common shares of the Company pursuant to Part VII of The Toronto Stock Exchange Company Manual.
The Company is being reviewed under the Remedial Review Process and has been granted 210 days to comply with all requirements for continued listing. If ORMI cannot demonstrate that it meets all TSX requirements set out in Part VII of The Toronto Stock Exchange Company Manual on or before November 3, 2009, the Company's common shares will be delisted 30 days from such date.
The delisting review was precipitated by the value of ORMI's listed securities falling below $3.0 million for 30 consecutive trading days prior to the review; and the value of ORMI's publicly-traded securities falling below $2.0 million over the same period.
ORMI management is currently reviewing the situation and evaluating various courses of action to meet TSX requirements before the end of the 210 period.
About Organic Resource Management Inc.
Organic Resource Management is Canada's largest provider of vacuum truck services for the collection, processing and disposal of food-related organic residuals. ORMI services in excess of 6,000 commercial, industrial and institutional customers in Ontario, Quebec, and British Columbia. Further information about ORMI may be obtained at the Company's web site at www.ormi.com.
Note: Certain information contained in this press release may be forward-looking and therefore subject to unknown risks or uncertainties. The actual results, performance or achievements of Organic Resource Management Inc. may differ materially from the results, performance or achievements of the Company expressed or implied by such forward-looking statements.
For further information, contact:
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Organic Resource Management Inc. Charles Buehler Website: www.ormi.com |
The Equicom Group Glen Williams Investor Relations Tel: 416-815-0700 ext. 272 Email: gwilliams@equicomgroup.com
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