Golden Minerals (AUMN.TO) over the weekend said it has received notice that its shares will be delisted from the NYSE American exchange due to non-compliance.
The exchange has decided to commence proceedings to suspend and delist Golden Minerals' shares because the company doesn't meet the requirement that it have stockholders' equity of $6 million or more if the company reports losses from continuing operations and/or net losses in its five most recent fiscal years.
Golden Minerals expects its shares to start trading on the OTC Pink Market under the symbol AUMN on Dec. 16. The company is in the process of applying for a listing on the OTCQB Venture Market.
The company's stock will remain listed on the Toronto Stock Exchange under the symbol AUMN. The transition to the OTC Markets does not effect its business or operations.
Golden Minerals shares were last seen down $0.04 to $0.33 on the Toronto Stock Exchange.
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