- Ivanhoe Energy files Form 8-K regarding NASDAQ notice letter
May 31, 2012
The NASDAQ stock exchange has recently contacted Ivanhoe Energy and informed us that because our stock has traded below U.S. $1.00 for 30 consecutive days, the Company no longer satisfies the NASDAQ continued listing requirements. Like all companies in this position, we have a 180 day period to cure the deficiency, which expires on November 20, 2012.
The Company understands the requirements, and our leadership team is focused on delivering our 2012 strategy, which includes a number of potential catalysts that we believe should help support a stock price above U.S. $1.00 sustainably. These catalysts include successfully completing the exploration well in Ecuador, validating the HTL technology in a midstream capacity and completing financing activities underway such as joint venture arrangements and an asset sale.
Please note, the Company's common shares are also listed and trade on the Toronto Stock Exchange. The Toronto Stock Exchange does not have a minimum bid price per share requirement.