Medicure Announces Intention to Delist From the American Stock Exchange
June 18 2008 - 1:55PM
Marketwired
WINNIPEG, MANITOBA (AMEX: MCU) today announced that its Board of
Directors has unanimously decided to submit a written notice to the
American Stock Exchange ("Amex") of its intention to file a Form 25
with the United States Securities and Exchange Commission in order
to voluntarily delist its common shares ("Shares") from Amex.
Medicure previously announced that it received a letter from
Amex stating that Amex has determined that Medicure is not in
compliance with certain continued listing standards, as set forth
in Part 10 of the Amex Company Guide (the "Company Guide"), and
that failure to regain compliance with Amex's listing requirements
by November 24, 2008, would result in Amex initiating delisting
proceedings pursuant to Section 1009 of the Company Guide. After
further consideration in light of the Company's business needs,
Medicure has decided to voluntarily delist its Shares from Amex. It
is expected that listing of the Shares on Amex will cease on or
about July 7, 2008.
The Shares will continue to be traded on the Toronto Stock
Exchange (the "TSX"). Medicure's Board of Directors unanimously
approved the delisting and deregistration of the Shares, noting
that the TSX is the more significant trading market for the Shares.
Medicure does not believe that its shareholders in the United
States will be materially prejudiced by a voluntary delisting from
Amex since its U.S. shareholders will continue to be able to trade
the Shares through the facilities of the TSX.
About Medicure Inc.
Medicure Inc is a biopharmaceutical company focused on the
research, development and commercialization of novel compounds to
treat cardiovascular disorders. Cardiovascular medicine represents
the largest pharmaceutical sector, with annual global sales of over
US $70 billion. Medicure aims to make a global impact on
cardiovascular disease and stroke by reducing deaths, improving the
quality of life and serving the unmet needs of people who suffer
from cardiovascular disease and stroke.
This press release contains forward-looking statements, as
defined under applicable securities legislation, that involve
risks, which may cause actual results to differ materially from the
statements made, and accordingly may be deemed to be
forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
The forward-looking statements are made as of the date hereof, and
the Company disclaims any intention and has no obligation or
responsibility to update or revise any forward-looking statements,
whether as a result of new information, future events, or otherwise
except as required by law. Such forward-looking statements involve
known and unknown risks, uncertainties and other factors that may
cause the actual results, events or developments to be materially
different from any future results, events or developments expressed
or implied by such forward-looking statements. Such factors
include, among others, the Company's stage of development, lack of
product revenues, additional capital requirements, risks associated
with the completion of clinical trials and obtaining regulatory
approval to market the Company's products, the ability to protect
its intellectual property, dependence on collaborative partners and
the ability to meet its debt obligations. These factors should be
considered carefully and readers are cautioned not to place undue
reliance on such forward-looking statements. Additional risks and
uncertainties relating to the Company and its business can be found
in the "Risk Factors" section of its Form 20F for the year ended
May 31, 2007 and the Company's MD&A for the third quarter ended
February 29, 2008.
Contacts: Medicure Inc. Albert D. Friesen President & CEO
(204) 487-7412 or 1-888-435-2220 (204) 488-9823 (FAX) Email:
info@medicure.com Website: www.medicure.com
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