Lydian International Limited (LYD.TO) (“Lydian” or the “Company”) announced that it has received notice that the Toronto Stock Exchange (“TSX”) has determined to delist the Company’s ordinary shares effective at the close of market on February 5, 2020. The Company does not intend to appeal the decision or seek an alternative listing. The Company’s ordinary shares remain suspended from trading pending the delisting.
As previously announced, the Company and its direct and indirect wholly owned subsidiaries, Lydian Canada Ventures Corporation (“Lydian Canada”) and Lydian U.K. Corporation Limited (“Lydian UK”), were granted protection under the Companies’ Creditors Arrangement Act (the “CCAA”). While under CCAA protection, creditors and others are stayed from enforcing any rights against the Company, Lydian Canada, Lydian UK and a number of their direct subsidiaries including Lydian Armenia.
All inquiries regarding the CCAA proceeding should be directed to the court-appointed monitor, Alvarez & Marsal Canada Inc. (email firstname.lastname@example.org or telephone +1 416-847-5158). Information about the Company’s CCAA proceedings, including all court orders made and the monitor’s reports, are available on the monitor’s website, at: http://www.alvarezandmarsal.com/Lydian.