Midway Gold common stock trading suspended; board chairman resigns

By Caroline Salls

Pittsburgh, June 23 – Midway Gold Corp. received notice that the NYSE MKT LLC has suspended the company’s common stock from trading immediately and will begin proceedings to delist the common stock as a result of Midway’s Chapter 11 bankruptcy filing, according to a news release.

The Toronto Stock Exchange also suspended the company’s common stock from trading effective immediately while it reviews Midway’s continued eligibility for listing.

The Toronto Stock Exchange cited the bankruptcy filing, the company’s financial condition and/or operating results and the question of whether it has adequate working capital and appropriate capital structure.

A hearing to decide whether to delist Midway’s securities from the Toronto Stock Exchange is scheduled for June 25.

Midway said it does not intend to take any further action to appeal these decisions, and its common stock is expected to be delisted from both the NYSE MKT and the TSX following completion of their proceedings.

In addition, the company said board chairman Timothy J. Haddon resigned for personal reasons.

Midway, based in Vancouver, B.C., is a development-stage company that acquires, explores and develops gold and silver mineral properties in North America. The company filed for bankruptcy on June 22 in the U.S. Bankruptcy Court for the District of Colorado under Chapter 11 case number 15-16835.

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