NEWTOWN, PA — Helius Medical Technologies, Inc. (Nasdaq: HSDT) (TSX: HSM) this week announced that it has provided written notice to the Toronto Stock Exchange (the “TSX”) regarding the voluntary delisting of its Class A common stock from the TSX.
The Company believes that the trading volume of its shares on the TSX no longer justifies the expense and administrative efforts associated with maintaining this listing, especially given Helius’ listing on The Nasdaq Capital Market (“Nasdaq”). The Company’s listing on Nasdaq provides its stockholders with good liquidity, and the savings in exchange fees, legal fees and managerial time and effort to maintain a dual listing can be redirected into further advancing the business of the Company. Helius anticipates that its Class A common stock will be delisted from the TSX at the close of trading on or about September 9, 2021.
Pursuant to Section 720(b)(i) of the TSX Company Manual, shareholder approval is not required with regards to the voluntary delisting as an alternative market for the shares will exist on Nasdaq.
The Company states that stockholders holding shares in Canadian brokerage accounts should contact their brokers to confirm how to trade Helius’ shares on the Nasdaq.
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