MINNEAPOLIS, June 1, 2015 /PRNewswire/ - IMRIS Inc.(the
Company)(NASDAQ: IMRS; TSX: IM) announced today that the Company
received a letter May 26, 2015 from
the NASDAQ Stock Market LLC ("Nasdaq") stating that in accordance
with Listing Rules 5101, 5110(b), and IM-5101-1, the Staff has
determined that the Company's securities will be delisted from The
NASDAQ Stock Market. Accordingly, trading of the Company's Common
Shares will be suspended at the opening of business on June 4, 2015, and a Form 25-NSE will be filed
with the Securities and Exchange Commissions (the SEC), which will
remove the Company's securities from listing and registration on
The Nasdaq Stock Market. The Nasdaq staff determination was
based on the following factors: the associated public interest
concerns raised by the Company's press release dated May 26, 2015 in which the Company announced it
has filed for protection under Chapter 11 of the U.S. Bankruptcy
Code; concerns regarding the residual equity interest of the
existing listed securities holders; and concerns about the
Company's ability to sustain compliance with all requirements for
continued listing on The Nasdaq Stock Market.
About IMRIS
IMRIS (NASDAQ: IMRS; TSX: IM) is a global leader in providing
image guided therapy solutions through its VISIUS Surgical Theatre
– a revolutionary, multifunctional surgical environment that
provides unmatched intraoperative vision to clinicians to assist in
decision making and enhance precision in treatment. The multi-room
suites incorporate diagnostic quality high-field MR, CT and angio
modalities accessed effortlessly in the operating room setting.
VISIUS Surgical Theatres serve the neurosurgical, cardiovascular,
spinal and cerebrovascular markets and have been selected by
leading medical institutions around the world. For more
information, visit www.imris.com.
Forward-Looking Statements
This press release may contain or refer to forward-looking
information based on current expectations. In some cases,
forward-looking statements can be identified by terminology such as
"anticipate", "may", "expect", "believe", "prospective", "continue"
or the negative of these terms or other similar expressions
concerning matters that are not historical facts. These
statements should not be understood as guarantees of future
performance or results. Such statements involve known and
unknown risks, uncertainties and other factors that may cause
actual results, performance or achievements to be materially
different from those implied by such statements. Although
such statements are based on management's reasonable assumptions,
there can be no assurance that actual results will be consistent
with such statements. Forward-looking statements are subject
to significant risks and uncertainties, and other factors that
could cause actual results to differ materially from expected
results. These forward-looking statements are made as of the
date hereof and we assume no responsibility to update or revise
them to reflect new events or circumstances.
SOURCE IMRIS Inc.
