NYSE Amex Accepts Pacific Rim Mining's Compliance Plan
February 11 2010 - 4:00PM
Marketwired
Pacific Rim Mining Corp. ("Pacific Rim" or the "Company") (TSX:
PMU)(NYSE Amex: PMU) received notice of acceptance by the NYSE Amex
LLC ("NYSE Amex" or the "Exchange") of the Company's listing
compliance plan (the "Plan"). The Plan was submitted to the NYSE
Amex in response to notification from the Exchange in late
November, 2009 of the Company's non-compliance with Section
1003(a)(iii) of the NYSE Amex Company Guide, having stockholders'
equity of less than $6,000,000 at July 31, 2009, while sustaining
losses from continuing operations and net losses in its five most
recent fiscal years.
With the Exchange's acceptance of the Plan, the Company's NYSE
Amex listing is expected to continue during the Plan period, up to
May 11, 2011, subject to periodic review to determine whether the
Company is making progress consistent with the Plan and conditions
of NYSE Amex. If the Company is not in compliance with the
continued listing standards at the end of the Plan period, or if
the Company does not make progress consistent with the Plan during
the period, then the Exchange may initiate delisting
proceedings.
The Company's common shares continue to trade on the NYSE Amex
under the symbol "PMU" with the trading symbol extension "BC" to
denote non-compliance with the Exchange's continued listing
standards while the Plan period is in effect. The Company's common
shares also continue to be listed on the Toronto Stock Exchange
("TSX") in Canada under the symbol "PMU".
About the Company
Pacific Rim is an environmentally and socially responsible
exploration company focused exclusively on high grade,
environmentally clean gold deposits in the Americas. Pacific Rim's
primary asset and focus of its growth strategy is the high grade,
vein-hosted El Dorado gold project in El Salvador. The Company owns
several similar grassroots gold projects in El Salvador and is
actively seeking additional assets elsewhere in the Americas that
fit its project focus. All references to "Pacific Rim" or "the
Company" encompass the Canadian corporation, Pacific Rim Mining
Corp, and its U.S. and Salvadoran subsidiaries, Pac Rim Cayman LLC,
Pacific Rim El Salvador, S.A. de C.V., and Dorado Exploraciones,
S.A. de C.V., inclusive.
On behalf of the board of directors,
Thomas C. Shrake, President and CEO
Forward-Looking Information
Information set forth in this document may involve
forward-looking statements. By their nature, forward-looking
statements are subject to numerous risks and uncertainties, some of
which are beyond Pacific Rim's control, including: the assessment
by the Exchange that adequate progress is being made in achievement
of the Plan; the ability of the Company to comply with NYSE Amex
listing maintenance standards in the future; and the ongoing
listing of the Company on the Exchange. Readers are cautioned that
the assumptions used in the preparation of such information,
although considered reasonable at the time of preparation, may
prove to be imprecise and, as such, undue reliance should not be
placed on forward-looking information. Pacific Rim's actual
results, programs and financial position could differ materially
from those expressed in or implied by these forward-looking
statements. Readers are urged to thoroughly review the Company's
Risks and Uncertainties as outlined in its 2009 Annual Report.
The TSX and the NYSE Amex have neither reviewed nor accept
responsibility for the adequacy or accuracy of this release.
Contacts: Pacific Rim Mining Corp. Barb Henderson 604-689-1976
or 1-888-775-7097 604-689-1978 (FAX) general@pacrim-mining.com
www.pacrim-mining.com
Pacific Rim Mining (AMEX:PMU)
Historical Stock Chart
From May 2024 to Jun 2024
Pacific Rim Mining (AMEX:PMU)
Historical Stock Chart
From Jun 2023 to Jun 2024