Golden Minerals Receives NYSE Acceptance of Plan to Regain Listing Compliance
23 Agosto 2023 - 7:45AM
Business Wire
Golden Minerals Company (“Golden Minerals,” “Golden” or the
“Company”) (NYSE-A: AUMN and TSX: AUMN) announced today that the
NYSE American (the “NYSE”) has accepted the Company’s business plan
to regain compliance with the continued listing standards set forth
in Section 1003(a)(iii) of the NYSE American Company Guide.
As previously disclosed, on June 6, 2023, the Company received
written notice from the NYSE that the Company was not in compliance
with Section 1003(a)(iii) which requires a listed company to have
stockholders’ equity of at least (US) $6 million when such issuer
has sustained losses from continuing operations and/or net losses
in its five most recent fiscal years. The Company reported
stockholders’ equity of $4.1 million as of March 31, 2023 and $5.6
million as of June 30, 2023. On August 22, 2023, the NYSE accepted
the Company’s plan to regain compliance and has granted to the
Company a cure period of up to 18 months from the original notice
of non-compliance, or until December 6, 2024.
The listing of the Company’s common stock will continue pursuant
to an extension during the plan period, during which time the
Company will be subject to periodic review to determine whether it
is making progress consistent with the accepted plan. Failure to
make progress consistent with the plan or to regain compliance with
the continued listing standards by December 6, 2024 could result in
the Company’s shares of common stock being delisted from the NYSE
American.
About Golden Minerals
Golden Minerals is a gold and silver producer based in Golden,
Colorado. The Company is primarily focused on initiating production
at its Velardeña Properties (Mexico), advancing its Yoquivo
gold-silver property (Mexico), advancing its El Quevar silver
property (Argentina) through partner-funded exploration and on
acquiring and advancing selected mining properties in Mexico,
Nevada and Argentina.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended and Section 21E of the Securities Exchange Act of 1934, as
amended, and applicable Canadian securities legislation, including
statements regarding the Company's plan to regain compliance with
the continued listing standards of the NYSE American. These
statements are subject to risks and uncertainties, including the
Company’s ability to obtain a source of capital sufficient to allow
it to restart operations at the Velardeña Properties and continue
to pay general and administrative expenses; changes in
interpretations of geological, geostatistical, metallurgical,
mining or processing information and interpretations of the
information resulting from exploration, analysis or mining and
processing experience; and the Company’s ability to successfully
mine the Velardeña Properties as contemplated in the PEA. Golden
Minerals assumes no obligation to update this information.
Additional risks relating to Golden Minerals may be found in the
periodic and current reports filed with the Securities and Exchange
Commission by Golden Minerals, including the Company’s Annual
Report on Form 10-K for the year ended December 31, 2022.
Follow us at www.linkedin.com/company/golden-minerals-company/
and https://twitter.com/Golden_Minerals.
For additional information please visit
http://www.goldenminerals.com/.
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version on businesswire.com: https://www.businesswire.com/news/home/20230823163597/en/
Golden Minerals Company Karen Winkler, Director of Investor
Relations (303) 839-5060
Golden Minerals (AMEX:AUMN)
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