Published on July 3, 2012 at 1:58 AM
CorMedix Inc. ("CorMedix") (NYSE Amex: CRMD), a pharmaceutical company
focused on developing and commercializing therapeutic products for the
prevention and treatment of Cardiorenal disease, announces the receipt
of notice on June 27, 2012 from the NYSE Amex LLC (the "NYSE-Amex") that
the NYSE-Amex has accepted the CorMedix's plan to regain compliance with
continued listing standards of the NYSE-Amex. CorMedix's plan was
submitted on May 17, 2012 in response to a letter from the NYSE-Amex
which informed CorMedix it was below certain of the NYSE-Amex's
continued listing standards due to financial impairment as set forth in
Section 1003(a)(iv) of the NYSE-Amex Company Guide.
afforded the opportunity to submit a plan of compliance to the NYSE-Amex
and on May 17, 2012 presented its plan to the NYSE-Amex. On June 27,
2012 the NYSE-Amex notified CorMedix that it accepted the plan of
compliance and granted CorMedix an extension until August 22, 2012 to
regain compliance with the continued listing standards. CorMedix will be
subject to periodic review by the NYSE-Amex Staff during the extension
period. Failure to make progress consistent with the plan or to regain
compliance with continued listing standards by the end of the extension
period could result in CorMedix being delisted from the NYSE-Amex.
Source: CorMedix Inc.