VANCOUVER, BC / ACCESSWIRE / August 30, 2024 / GLG Life Tech Corporation (TSX:GLG) ("GLG" or the "Company"), a global and agricultural leader in the natural zero-calorie sweetener industry, committed to the sustainable development of high-quality zero-calorie natural sweeteners, is providing an update regarding the Company's delisting review initiated by the Toronto Stock Exchange ("TSX") and the Company's upcoming transfer of its listing to the NEX exchange. As previously announced, the TSX initiated a delisting review of the Company in April 2024. The TSX advised that the Company did not meet certain continued listing criteria, specifically relating to the Company's low share price and low market capitalization, as well as the Company's continued net losses and negative working capital situation.
The TSX determined that, based on its determination that these criteria remained unmet (there were no other criteria identified by the TSX as unmet), the Company would be delisted by effective close of market on September 3, 2024. The Company has also previously announced that it has been in discussion with the TSX-V regarding transferring its listing to that exchange. Given that the Company is currently subject to a Failure-to-File Cease Trade Order ("FFCTO") issued by the British Columbia Securities Commission in May of 2024 for failure to file timely file its audited 2023 full-year financial reporting package, it is not possible to transfer to the TSX-V at this time.
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