AMEX Accepts Lorus' Plan to Meet AMEX's Continued Listing Standards
06 Mai 2008 - 10:22PM
PR Newswire (US)
TORONTO, May 6 /PRNewswire-FirstCall/ -- Lorus Therapeutics Inc.
("Lorus" or the "Company") (TSX: LOR; AMEX: LRP), a
biopharmaceutical company specializing in the research and
development of pharmaceutical products and technologies for the
management of cancer, has received a notice from the American Stock
Exchange ("AMEX") indicating that Amex has accepted Lorus' plan of
compliance and granted the Company an extension until no later than
August 13, 2009 to regain compliance with the AMEX's continued
listing standards. As previously disclosed, on February 19, 2008,
the Company received notice from the AMEX staff indicating that the
Company was not in compliance with the $6 million stockholder's
equity threshold required for continued listing under AMEX Company
Guide Section 1003(a)(iii). The Company was afforded the
opportunity to submit a plan of compliance to the AMEX and on March
11, 2008 presented its plan to the AMEX. On April 30, 2008 AMEX
notified the Company that it accepted the Company's plan of
compliance and granted the Company an extension until August 13,
2009 to regain compliance with the continued listing standards. The
Company will be subject to periodic review by the AMEX during the
extension period. Continued listing on AMEX is dependent upon
making progress consistent with the plan or in regaining compliance
with the continued listing standards by the end of the extension
period. About Lorus Lorus is a biopharmaceutical company focused on
the research and development of novel therapeutics in cancer.
Lorus' goal is to capitalize on its research, preclinical, clinical
and regulatory expertise by developing new drug candidates that can
be used, either alone, or in combination with other drugs, to
successfully manage cancer. Through its own discovery efforts and
an acquisition and in-licensing program, Lorus is building a
portfolio of promising anticancer drugs. Lorus Therapeutics Inc. is
listed on the Toronto Stock Exchange under the symbol LOR, and on
the American Stock Exchange under the symbol LRP. Forward Looking
Statements This press release contains forward-looking statements
within the meaning of Canadian and U.S. securities laws. Such
statements include, but are not limited to, statements relating to:
financings and corporate reorganizations, the establishment of
corporate alliances, the Company's plans, objectives, expectations
and intentions and other statements including words such as
"continue", "expect", "intend", "will", "should", "would", "may",
and other similar expressions. Such statements reflect our current
views with respect to future events and are subject to risks and
uncertainties and are necessarily based upon a number of estimates
and assumptions that, while considered reasonable by us are
inherently subject to significant business, economic, competitive,
political and social uncertainties and contingencies. Many factors
could cause our actual results, performance or achievements to be
materially different from any future results, performance or
achievements described in this press release. Such expressed or
implied forward looking statements could include, among others: our
ability to meet AMEX's continued listing requirements; and other
risks detailed from time-to-time in our ongoing quarterly filings,
annual information forms, annual reports and annual filings with
Canadian securities regulators and the United States Securities and
Exchange Commission. Should one or more of these risks or
uncertainties materialize, or should the assumptions set out in the
section entitled "Risk Factors" in our filings with Canadian
securities regulators and the United States Securities and Exchange
Commission underlying those forward-looking statements prove
incorrect, actual results may vary materially from those described
herein. These forward-looking statements are made as of the date of
this press release and we do not intend, and do not assume any
obligation, to update these forward-looking statements, except as
required by law. We cannot assure you that such statements will
prove to be accurate as actual results and future events could
differ materially from those anticipated in such statements.
Investors are cautioned that forward-looking statements are not
guarantees of future performance and accordingly investors are
cautioned not to put undue reliance on forward-looking statements
due to the inherent uncertainty therein. Lorus Therapeutics Inc.'s
recent press releases are available through its website at
http://www.lorusthera.com/. For Lorus' regulatory filings on SEDAR,
please go to http://www.sedar.com/. For SEDAR filings prior to July
10, 2007 you will find these under the company profile for Global
Summit Real Estate Inc. (Old Lorus). DATASOURCE: Lorus Therapeutics
Inc. CONTACT: Lorus Therapeutics Inc., Dr. Saeid Babaei, (416)
798-1200 ext. 490,
Copyright