| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
Kelso Technologies Inc. ("Kelso" or the "Company"), (TSX:KLS), (NYSE:KIQ) today announced that it has notified the NYSE American ("NYSE American") of its intention to voluntarily delist its common shares ("Shares") from the NYSE American. The Shares will continue to trade on the Toronto Stock Exchange ("TSX").
As previously announced in its press release dated December 18, 2023, Kelso received a notification letter (the "Notice") dated December 12, 2023 from the NYSE American stating that the NYSE American staff had determined that the Company's securities had been trading at a low price per share for a substantial period of time and as a result, the Company was not in compliance with the NYSE American's continued listing standards (the "Listing Standards").
After careful consideration, the Company has evaluated the benefits and costs of continuing its listing on NYSE American and has concluded that it is appropriate to voluntarily delist from the NYSE American at this time. With the Shares concurrently trading on the TSX, the Company believes the costs associated with a continued U.S. stock exchange listing, as well as the administrative burdens and requirements associated with maintaining a dual listing, are not justified at this time. The Company has also concluded that a reverse split of the Company's Shares of a magnitude necessary to come into compliance with the Listing Standards is not a desirable alternative at this time and would not be in the best interest of the Company's shareholders. The Company does not expect to seek to list its shares on another U.S. national securities exchange or U.S. quotation system.
The Company intends to file a Form 25 with the U.S. Securities and Exchange Commission on or about March 15, 2024, which Form would become effective 10 days following filing thereof, resulting in the delisting of the Shares from NYSE American on or about March 25, 2024. The Company's financial statements, press releases and other information will continue to be available on SEDAR+ at www.sedarplus.com, on EDGAR at www.sec.gov and on the Company's website at www.kelsotech.com.
