Northstar Satisfies TSX Continued Listing Requirements
HOUSTON, TX, March 26, 2013 /CNW/ - The Toronto Stock Exchange (the
"TSX") has informed Northstar Healthcare Inc. (NHC:TSX) that it has
lifted the delisting review of Northstar's securities after determining
that Northstar has fully complied with the TSX's continued listing
requirements. Northstar's securities have not only met the minimum
listing requirements of 712(b) but are now trading at a price that is
more than double the amount required to maintain its listing.
In November of 2012, the TSX announced that it had automatically
initiated a 120-day delisting review of Northstar's compliance with TSX
Company Manual's 712 (b) related to the market value of publicly held
(that is, non-insider held) Northstar securities. In February of this
year, the TSX granted Northstar an additional 30 days to comply with
this TSX continued listing requirement. Because of Northstar's current
compliance with Company Manual Section 712(b) -- and all other TSX
continued listing requirements -- the delisting review has been lifted.
Northstar's management extends its thanks to the TSX for its assistance
and co-operation during the review period.
About Northstar Healthcare Inc.
Northstar partners with physicians in the ownership and management of
ambulatory facilities and healthcare services. Northstar owns and
manages interests in three ambulatory surgery centers, two in Houston
and the third in Dallas.
This news release may contain forward-looking statements (within the
meaning of applicable securities laws) relating to business of
Northstar Healthcare Inc. (the "Company") and the environment in which
it operates. Forward-looking statements are identified by words such as
"believe", "anticipate", "expect", "intend", "plan", "will", "may" and
other similar expressions. These statements are based on the Company's
expectations, estimates, forecasts and projections. They are not
guarantees of future performance and involve risks and uncertainties
that are difficult to control or predict. These risks and uncertainties
are discussed in the Company's regulatory filings available on the
Company's web site at www.Northstar-Healthcare.com or at www.sedar.com. There can be no assurance that forward-looking statements will prove
to be accurate as actual outcomes and results may differ materially
from those expressed in these forward-looking statements. Readers,
therefore, should not place undue reliance on any such forward-looking
statements. Further, a forward-looking statement speaks only as of the
date on which such statement is made. The Company undertakes no
obligation to publicly update any such statement or to reflect new
information or the occurrence of future events or circumstances.
SOURCE: Northstar Healthcare Inc.
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Tel: (281) 840-5180