Westwater Resources Regains Nasdaq Listing Compliance
May 09 2019 - 8:00AM
Business Wire
Westwater Resources, Inc. (“Westwater,” or the “Company”)
(Nasdaq: WWR), an energy materials development company, today
announced that it has received notification from Nasdaq that the
Company has regained compliance with the minimum $1.00 per share
bid price requirement for continued listing, and further, that the
Company complies with all other applicable standards for continued
listing of its securities on the Nasdaq Stock Market.
On April 18, 2019, at the 2019 annual general meeting, the
Company’s shareholders approved a proposal that empowered the
Company’s Board of Directors to make a decision on a reverse split
of not less than 1-for-5 and not more than 1-for-50. Subsequently,
the Company’s Board of Directors approved a 1-for-50 reverse split,
which was effectuated after market close on April 22, 2019. On May
2, 2019, the Company attended a hearing of the Nasdaq Hearings
Panel to discuss its stock price, which at the time of the hearing
had been trading above the $1.00 per share minimum bid price for
seven trading days. On May 6, 2019, the Company’s stock price had
traded above the $1.00 per share minimum bid price for
10-consecutive trading days, and the Company notified Nasdaq of the
same. On May 8, 2019, Nasdaq wrote a letter informing the Company
that it had regained compliance with the $1.00 per share minimum
bid price requirement, that the Company’s listing on Nasdaq would
be continued, and the matter was closed.
About Westwater Resources
WWR is focused on developing energy-related materials. The
Company’s battery-materials projects include the Coosa Graphite
Project — the most advanced natural flake graphite project in the
contiguous United States — and the associated Coosa Graphite Mine
located across 41,900 acres (~17,000 hectares) in east-central
Alabama. In addition, the Company maintains lithium mineral
properties in three prospective lithium brine basins in Nevada and
Utah. Westwater’s uranium projects are located in Texas and New
Mexico. In Texas, the Company has two licensed and currently idled
uranium processing facilities and approximately 11,000 acres
(~4,400 hectares) of prospective in-situ recovery uranium projects.
In New Mexico, the Company controls mineral rights encompassing
approximately 188,700 acres (~76,000 hectares) in the prolific
Grants Mineral Belt, which is one of the largest concentrations of
sandstone-hosted uranium deposits in the world. Incorporated in
1977 as Uranium Resources, Inc., Westwater also owns an extensive
uranium information database of historic drill hole logs, assay
certificates, maps and technical reports for the western United
States. For more information, visit www.westwaterresources.net.
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Westwater Resources Contact:Christopher M. Jones,
President & CEOPhone: 303.531.0480
Jeff Vigil, VP Finance & CFOPhone: 303.531.0481Email:
Info@WestwaterResources.net
Investor Relations Contact:Michael PorterPorter, LeVay
and RosePhone: 212.564.4700Email: Westwater@plrinvest.com
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