Hemosol Receives Notification of Non-Compliance from Nasdaq
07 Novembre 2005 - 10:30PM
PR Newswire (US)
TORONTO, Nov. 7 /PRNewswire-FirstCall/ -- Hemosol Corp.
(NASDAQ:HMSLNASDAQ: TSX:NASDAQ:HML) today announced that on
November 3, 2005 it received notification from The Nasdaq Stock
Market indicating that for the previous 30 consecutive business
days, the bid price of Hemosol's common stock closed below the
minimum US$1.00 per share requirement for continued inclusion under
Nasdaq Marketplace Rule 4450(b)(4) (the "Rule"). As a result, in
accordance with Nasdaq Marketplace Rule 4450(e)(2), Hemosol will be
provided 180 calendar days, or until May 2, 2006, to regain
compliance by having its shares close above $1.00 for a minimum of
10 consecutive trading days. If Hemosol has not regained compliance
with the Rule by May 2, 2006, Nasdaq will issue a letter notifying
the Company that its common stock will be delisted. At that time,
Hemosol may appeal the determination to delist its common stock to
a Listings Qualifications Panel. About Hemosol Hemosol is an
integrated biopharmaceutical developer and manufacturer of
biologics, particularly blood-related protein based therapeutics.
For more information visit Hemosol's website at
http://www.hemosol.com/. The Common Shares are listed on the NASDAQ
Stock Market under the trading symbol "HMSL" and on the TSX under
the trading symbol "HML". Certain statements concerning Hemosol's
future prospects are "forward- looking statements" within the
meaning of the United States Private Securities Litigation Reform
Act of 1995 and other applicable securities legislation. There can
be no assurances that future results will be achieved, and actual
results could differ materially from forecasts and estimates.
Important factors that could cause actual results to differ
materially from forecasts and estimates include, but are not
limited to: Hemosol's ability to successfully implement the Cascade
technology and commercialize products derived from that technology;
Hemosol's ability to obtain additional financing which is critical
to the implementation of the Cascade technology and to Hemosol's
continued viability as a going concern; Hemosol's ability to obtain
regulatory approvals for its products; Hemosol's ability to
successfully complete clinical trials for its products; Hemosol's
ability to enter into satisfactory arrangements for the supply of
materials used in its manufacturing operations and the sale of
resulting products to customers; technical, manufacturing or
distribution issues; the competitive environment for Hemosol's
products and services; the degree of market penetration of
Hemosol's products; Hemosol's ability to attract and retain clients
for its bio-manufacturing services; the risk that Hemosol may not
become profitable; and other factors set forth in filings with
Canadian securities regulatory authorities and the U.S. Securities
and Exchange Commission. These risks and uncertainties, as well as
others, are discussed in greater detail in the filings of Hemosol
with Canadian securities regulatory authorities and the U.S.
Securities and Exchange Commission. Hemosol makes no commitment to
revise or update any forward-looking statements in order to reflect
events or circumstances after the date any such statement is made.
DATASOURCE: Hemosol Corp. CONTACT: Jason Hogan, Investor &
Media Relations, (416) 361-1331, (800) 789-3419, (416) 815-0080
fax, , http://www.hemosol.com/; Archived images on this
organization are searchable through CNW Photo Archive website at
http://photos.newswire.ca/. Images are free to accredited members
of the media. To request a free copy of this organization's annual
report, please go to http://www.newswire.ca/ and click on Tools for
Investors.
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