Item 3.01 Notice of Delisting or Failure to Satisfy a
Continued Listing Rule or Standard; Transfer of Listing
As previously disclosed, on September 12, 2019, General Moly, Inc. (the
"Company") received a letter (the "Letter") from the NYSE American LLC (the
"NYSE American") indicating that the NYSE American had determined, pursuant to
Section 1003(f)(v) of the NYSE American Company Guide, that the Company's common
stock had been selling for a low price per share for a substantial period of
time. Accordingly, the Letter stated that the Company must demonstrate
sustained price improvement or effect a reverse stock split of its common stock
by no later than March 12, 2020, in order to maintain the listing of the
Company's common stock on the NYSE American.
On March 12, 2020, the Company was advised by the NYSE American that the price
deficiency had not been cured by the end of the six-month period, but that the
NYSE American has granted the Company additional time until its 2020 Annual
Meeting of Stockholders to implement a reverse stock split. The Company plans
to seek shareholder approval of a reverse stock split proposal at its 2020
Annual Meeting of Stockholders. In the interim, the Company's common stock
remains listed on the NYSE American, under the trading symbol "GMO", subject to
the Company's compliance with other continued listing requirements and subject
to the trading price remaining above a required $0.06 minimum per share. The
NYSE American has added the designation of ".BC" to indicate that the Company is
below compliance with the listing standards set forth in the Company Guide.
A copy of the Company's press release dated March 17, 2020, regarding the
notification from the NYSE American is filed as Exhibit 99.1 to this Current
Report on Form 8†K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit No. Description
99.1 Press Release of General Moly, Inc. dated March 17, 2020.
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