Lightbridge Receives Official Confirmation of Compliance with all Applicable Requirements for Continued Listing on The Nasdaq...
August 29 2016 - 6:30AM
Lightbridge Corporation (NASDAQ:LTBR), a U.S. nuclear fuel
development company, today announced that it received official
confirmation that the Company is in compliance with all applicable
requirements for listing on The Nasdaq Capital Market having met
the bid price and shareholders’ equity requirements.
As of August 2, 2016, the Company maintained a closing bid price
of over $1.00 for the ten prior consecutive trading days, and as a
result of the $2.8 million preferred stock transaction with General
International Holdings Inc. (GIH), the Company’s stockholders’
equity increased by $2.8 million, from $1.1 million to $3.9 million
as disclosed in the Company’s Form 10-Q filed on August 11,
2016.
Seth Grae, President & Chief Executive Officer of
Lightbridge Corporation, commented, “We are very pleased with the
final decision of the Nasdaq to support our continued listing.
We appreciate the support of Mr. Xingping Hou, a prominent
Chinese businessman and investor, whose preferred stock investment
at a premium to our market price at the time of the investment,
further strengthened our balance sheet, while minimizing equity
dilution versus other alternatives. We look forward to a
number of very exciting developments later this year, and believe
that our listing on the Nasdaq will provide us significant exposure
to global investors as we announce these major milestones.”
About Lightbridge Corporation
Lightbridge is a nuclear fuel development company based in
Reston, Virginia, USA. The Company develops proprietary next
generation nuclear fuel technologies for current and future nuclear
reactor systems. Lightbridge's breakthrough fuel technology is
establishing new global standards for safe and clean nuclear power
and leading the way to a sustainable energy future. The Company
also provides comprehensive advisory services for established and
emerging nuclear programs based on a philosophy of transparency,
non-proliferation, safety and operational excellence. Lightbridge
consultants provide integrated strategic advice and expertise
across a range of disciplines including regulatory affairs, nuclear
reactor procurement and deployment, reactor and fuel technology and
international relations. The Company leverages those broad and
integrated capabilities by offering its services to commercial
entities and governments with a need to establish or expand nuclear
industry capabilities and infrastructure.
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Forward Looking StatementsWith the exception of
historical matters, the matters discussed in this news release are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements
regarding the Company's competitive position, the timing of
demonstration testing and commercial production, the Company’s
entry into agreements with nuclear fuel manufacturers and the
timing thereof, the potential impact of the U.S. Clean Energy Plan
and similar regulations, the Company’s anticipated financial
resources and position, the Company’s product and service offerings
and the expected market for the Company’s product and service
offerings. These statements are based on current expectations
on the date of this news release and involve a number of risks and
uncertainties that may cause actual results to differ significantly
from such estimates. The risks include, but are not limited to, the
degree of market adoption of the Company's product and service
offerings; market competition; dependence on strategic partners;
demand for fuel for nuclear reactors; and the Company's ability to
manage its business effectively in a rapidly evolving market, as
well as other factors described in Lightbridge's filings with the
Securities and Exchange Commission. Lightbridge does not
assume any obligation to update or revise any such forward-looking
statements, whether as the result of new developments or
otherwise. Readers are cautioned not to put undue reliance on
forward-looking statements.
Investor Relations Contact:
David Waldman/Natalya Rudman
Crescendo Communications, LLC
Tel. +1 855-379-9900
ltbr@crescendo-ir.com
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