TORONTO, April 7 /CNW/ - Organic Resource Management Inc. (TSX: ORI)
("ORMI" or "the Company"), confirmed today that the Toronto Stock Exchange
("TSX") is reviewing the eligibility for continued listing on the TSX of the
common shares of the Company pursuant to Part VII of The Toronto Stock
Exchange Company Manual.
The Company is being reviewed under the Remedial Review Process and has
been granted 210 days to comply with all requirements for continued listing.
If ORMI cannot demonstrate that it meets all TSX requirements set out in Part
VII of The Toronto Stock Exchange Company Manual on or before November 3,
2009, the Company's common shares will be delisted 30 days from such date.
The delisting review was precipitated by the value of ORMI's listed
securities falling below $3.0 million for 30 consecutive trading days prior to
the review; and the value of ORMI's publicly-traded securities falling below
$2.0 million over the same period.
ORMI management is currently reviewing the situation and evaluating
various courses of action to meet TSX requirements before the end of the 210
About Organic Resource Management Inc.
Organic Resource Management is Canada's largest provider of vacuum truck
services for the collection, processing and disposal of food-related organic
residuals. ORMI services in excess of 6,000 commercial, industrial and
institutional customers in Ontario, Quebec, and British Columbia. Further
information about ORMI may be obtained at the Company's web site at
Note: Certain information contained in this press release may be
forward-looking and therefore subject to unknown risks or uncertainties. The
actual results, performance or achievements of Organic Resource Management
Inc. may differ materially from the results, performance or achievements of
the Company expressed or implied by such forward-looking statements.
For further information:
For further information: Organic Resource Management Inc.: Charles
Buehler, Chairman and CEO, Tel: (416) 580-8574, Email: firstname.lastname@example.org,
Website: www.ormi.com; The Equicom Group: Glen Williams, Investor Relations,
Tel: (416) 815-0700 ext. 272, Email: email@example.com