Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard;
Transfer of Listing
As previously disclosed, on August 31, 2020, General Moly, Inc. (the "Company")
received a letter (the "Letter") from the NYSE American LLC (the "Exchange")
indicating that the Company was below compliance with Sections 1003(a)(i),
1003(a)(ii), and Section 1003(a)(iii) of the NYSE American Company Guide (the
"Company Guide"), which require minimum levels of stockholders' equity for
companies with histories of net losses. The Letter stated that the Company had
until September 30, 2020, to submit a plan of compliance to address how it
intended to regain compliance with the referenced sections of the Company Guide
by February 28, 2022.
On September 30, 2020, the Company notified the Exchange that it did not intend
to submit a plan of compliance. The Exchange also found that the Company had
fallen below the low selling price requirement of Section 1003(f)(v) of the
Company Guide. As a result, the Exchange has determined that the Company is no
longer suitable for listing pursuant to Section 1009 of the Company Guide.
Accordingly, the Exchange has suspended trading in the Company's common stock
and will initiate delisting proceedings.
A copy of the Company's press release dated October 1, 2020, regarding the
foregoing matters is filed as Exhibit 99.1 to this Current Report on Form 8-K
and is incorporated herein by reference.
Item 9.01
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