GLG Life Tech Corporation Updates on TSX Delisting and NEX Listing

GLG Life Tech Corporation (TSX:GLG), a leader in the natural zero-calorie sweetener industry, reported on its ongoing delisting review by the Toronto Stock Exchange (TSX) and its impending switch to the NEX exchange.

In April 2024, TSX initiated the delisting review due to GLG's low share price, market capitalization, net losses and negative working capital. The decision to delist the company will become effective by the close of the market on September 3, 2024.

GLG is currently under a Failure-to-File Cease Trade Order (FFCTO). As a result, the company cannot transfer to the TSX Venture Exchange (TSX-V). The FFCTO was issued due to delayed financial filings, though GLG has since caught up.

The company will move its listing to the NEX exchange on September 4, 2024. Shares will be suspended immediately due to the FFCTO. GLG is seeking revocation of the FFCTO and will provide updates on this. Once revoked, NEX will review for reinstatement.

The NEX listing allows GLG to continue improving its balance sheet and growing sales while addressing regulatory issues. The company aims for continued operational successes and the eventual trading of its shares on the NEX exchange.