DENVER, July 7, 2015 /CNW/ - Thompson Creek Metals
Company Inc. (NYSE: TC) (TSX: TCM) ("Thompson Creek" or the
"Company") announced today that it received notification on
July 6, 2015 from the New York Stock
Exchange (the "NYSE") that the price of the Company's common stock
has fallen below the NYSE's continued listing standard. The
NYSE requires that the average closing price of a listed company's
common stock be above $1.00 per share
over a consecutive 30-day trading period. As of July 6, 2015, the average closing price per share
of the Company's common stock over the preceding 30 trading day
period was $0.95.
The Company intends to respond to the NYSE within 10 business
days with its intent to cure the deficiency. The Company has
six months to regain compliance with the NYSE continued listing
requirements and avoid delisting. Management will actively monitor
the stock price and evaluate all available options in order to
regain compliance within the prescribed timeframe. During the
six-month period, the Company's common stock will continue to be
listed and traded on the NYSE, subject to compliance with the other
listing standards. The NYSE notification does not affect the
Company's business operations or its SEC reporting requirements,
nor does it conflict with or cause an event of default under any of
the instruments governing the Company's debt obligations. The
Company's common stock will continue to be listed and traded on the
Toronto Stock Exchange.
About Thompson Creek Metals Company Inc.
Thompson Creek Metals Company Inc. is a North American mining
company. The Company's principal operating property is its
100%-owned Mount Milligan mine, an open-pit copper and gold mine
and concentrator in British
Columbia. The Company's molybdenum assets consist of its
100%-owned Thompson Creek Mine, an open-pit molybdenum mine and
concentrator in Idaho, its 75%
joint venture interest in the Endako Mine, an open-pit molybdenum
mine, concentrator and roaster in British
Columbia, and its Langeloth Metallurgical Facility in
Pennsylvania. The Company's development project is the Berg
property, a copper, molybdenum, and silver exploration property
located in British Columbia. The Company's principal executive
office is located in Denver,
Colorado. More information is available at
www.thompsoncreekmetals.com.
Cautionary Note Regarding Forward-Looking Statements
This news release contains ''forward-looking statements'' within
the meaning of the United States Private Securities Litigation
Reform Act of 1995 Section 27A of the Securities Act of 1933,
Section 21E of the Securities Exchange Act of 1934 and applicable
Canadian securities legislation. These forward-looking statements
generally are identified by the words "believe," "project,"
"expect," "anticipate," "estimate," "intend," "future," "plan,"
"may," "should," "will," "would," "will be," "will continue," "will
likely result," and similar expressions. Forward-looking statements
include, without limitation, statements with respect to the
Company's actions with respect to the NYSE notification and its
stock price, and its ability to regain compliance with the NYSE
continuing listing standards and remain listed on the NYSE and the
Toronto Stock Exchange. Where we express an expectation or
belief as to future events or results, such expectation or belief
is expressed in good faith and believed to have a reasonable basis.
However, our forward-looking statements are based on current
expectations and assumptions that are subject to risks and
uncertainties which may cause actual results to differ materially
from future results expressed, projected or implied by those
forward-looking statements. Important factors that could cause
actual results and events to differ from those described in such
forward-looking statements can be found in the section entitled
"Risk Factors" in Thompson Creek's Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q and other documents filed on EDGAR
at www.sec.gov and on SEDAR at www.sedar.com. Although we have
attempted to identify those material factors that could cause
actual results or events to differ from those described in such
forward-looking statements, there may be other factors, currently
unknown to us or deemed immaterial at the present time that could
cause results or events to differ from those anticipated, estimated
or intended. Many of these factors are beyond our ability to
control or predict. Given these uncertainties, the reader is
cautioned not to place undue reliance on our forward-looking
statements. We undertake no obligation to update or revise publicly
any forward-looking statements, whether as a result of new
information, future events, or otherwise.
SOURCE Thompson Creek Metals Company Inc.