TORONTO, March 28 /CNW/ - Eiger Technology (TSX: AXA, OTCBB: ETIFF)
("Eiger" or the "Company") announces that the Listings Committee of Toronto
Stock Exchange (TSX), at a hearing held on March 26, 2008, determined to
delist the common shares of the Company. The TSX Committee believes that the
Company has not satisfied the TSX's Continued Listing Policies. The delisting
will be effective at the close of business on April 25, 2008.
The TSX delisting does not affect Eiger's status as a foreign private
issuer in the U.S. and its continued listing over the OTC Bulletin Board under
symbol "ETIFF". The Company is currently reviewing alternative listings in
Canada; either on the TSX Venture or NEX Exchanges.
Eiger has been a reporting issuer in Canada since 1991. Over the last
year, new management was instituted and has since implemented several changes
to personnel, capitalization and strategy in order to position Eiger for
renewed growth. The Company recently announced its intention to continue its
business with an emphasis on the gaming sector and currently has several
initiatives under development. The Company also has a plan to strengthen its
capital position over the near term. As Eiger has now reached a point where it
is financially sound and poised for growth through new initiatives, management
will assess what Exchange is best suited to execute the Company's announced
restructuring plans from and will advise shareholders of its intentions when
Eiger Technology, Inc., headquartered in Toronto, Ontario, is a
management company that is trades under the symbol AXA on the TSX Exchange and
under the symbol ETIFF on the Over the Counter Bulletin Board. For more
information please call (416) 477-5656 or refer to www.sedar.com.
The management of the company, who take full responsibility for its
content, prepared this press release. The Toronto Stock Exchange has not
reviewed and does not accept responsibility for the adequacy or accuracy of
this release. This press release contains forward-looking statements relating
to future events and results that are based on Eiger's current expectations.
These statements involve risks and uncertainties including, without
limitation, Eiger's ability to successfully develop and market its products,
consumer acceptance of such products, competitive pressures relating to price
reductions, new product introductions by third parties, technological
innovations, and overall market conditions. Consequently, actual events and
results in future periods may differ materially from those currently expected.
For further information:
For further information: John Simmonds, Eiger Technology, Inc.,
Telephone: (416) 477-5656, Ext. 301