Jan 28 2010
Medicure Inc. ("Medicure" or the "Company") (TSX:MPH) announces that, following a review by the listings committee of the Toronto Stock Exchange (the "TSX"), the common shares of Medicure will be delisted from the TSX effective at the close of trading on February 26, 2010. While the Company will endeavor to meet the continued listing requirements of the TSX prior to the delisting date, the Company also intends to make application for listing of its common shares on the TSX Venture Exchange (the "TSX- V") or NEX to ensure continued and seamless trading liquidity for shareholders. The Company anticipates that a transfer of its stock exchange listing to the TSX-V or NEX would occur on or about the TSX delisting date.
Management of the Company notes that a transfer in its stock exchange listing to the TSX-V or NEX would provide greater operational efficiency and lower costs for the Company, while allowing shareholders continued liquidity on a recognized exchange.
As previously announced on June 25, 2009, the Company was subject to an ordinary course delisting review by the TSX as a result of its reliance on the "financial hardship" exemption under Section 604(e) of the TSX Company Manual. The decision of the TSX to delist Medicure's common shares is based on the Company's failure to meet continued listing requirements of the TSX.
The Company is continuing its strategic review process as previously announced on January 13, 2010.