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American Lithium Corp (NASDAQ:AMLI) shares are trading lower by 29% to 44 cents during Wednesday’s session after the company announced plans to voluntarily delist its shares from the Nasdaq Capital Market.
What Else: The company will file Form 25 for delisting and deregistration on or about December 20, with Nasdaq trading ceasing on December 27, 2024.
The company's shares will remain listed on the TSX Venture Exchange and Frankfurt Stock Exchange. American Lithium has also applied for its shares to trade on the OTCQX Markets in the U.S., aiming for a seamless transition post-Nasdaq delisting.
The decision, approved by the Board of Directors, reflects a strategic shift to reduce costs and administrative burdens associated with Nasdaq and SEC compliance.
Factors influencing this move include high compliance costs, limited benefits from U.S. market participation due to low institutional interest and share liquidity, and constraints on raising equity capital or pursuing acquisitions in the U.S. market.
According to data from Benzinga Pro, AMLI has a 52-week high of $1.29 and a 52-week low of $0.32.
Posted In: AMLI
