Dejour Energy Inc. (NYSE MKT:DEJ/TSX:DEJ) has reported that the NYSE MKT (the Exchange), in a letter dated June 18, confirmed that the company has resolved the continued listing deficiencies with respect to Sections 1003(a)(ii) and (iii) of the NYSE MKT Company Guide regarding minimum stockholders’ equity.
The Exchange also confirmed that the company has made a reasonable demonstration of its ability to regain compliance with Section 1003(a) (IV) of the Company Guide which addresses a listing company’s ability to continue operations and/or meet its obligations as they occur. The Exchange has granted the company until July 15 to submit an updated “Plan of Compliance” addressing Section 1003(a)(iv).
The company’s original Plan of Compliance was submitted on December 23, 2013, and accepted by the Exchange on January 27, 2014. In that letter, the Exchange granted the company an extension to regain compliance with Section 1003(a)(iv) until April 4 and, by letter dated April 17, an additional extension was granted to June 6. Failure to make progress consistent with the “Plan of Compliance” or to regain compliance with the continued listing standards by the end of the applicable extension periods could result in the company’s shares being delisted from the Exchange.
The company is diligent in its effort to ensure compliance with Exchange requirements within the period granted. Approval has been given to continue its listing pursuant to the extension to allow the company to conclude these efforts, subject to periodic review by the Exchange.