IMRIS Announces Receipt of Nasdaq Notice of Delisting
MINNEAPOLIS, MN, June 1, 2015 - IMRIS Inc.(the Company)(NASDAQ: IMRS; TSX: IM) announced today that the Company received a letter May 26, 2015 from the NASDAQ Stock Market LLC (“Nasdaq”) stating that in accordance with Listing Rules 5101, 5110(b), and IM-5101-1, the Staff has determined that the Company’s securities will be delisted from The NASDAQ Stock Market. Accordingly, trading of the Company’s Common Shares will be suspended at the opening of business on June 4, 2015, and a Form 25-NSE will be filed with the Securities and Exchange Commissions (the SEC), which will remove the Company’s securities from listing and registration on The Nasdaq Stock Market. The Nasdaq staff determination was based on the following factors: the associated public interest concerns raised by the Company’s press release dated May 26, 2015 in which the Company announced it has filed for protection under Chapter 11 of the U.S. Bankruptcy Code; concerns regarding the residual equity interest of the existing listed securities holders; and concerns about the Company’s ability to sustain compliance with all requirements for continued listing on The Nasdaq Stock Market.
IMRIS (NASDAQ: IMRS; TSX: IM) is a global leader in providing image guided therapy solutions through its VISIUS Surgical Theatre – a revolutionary, multifunctional surgical environment that provides unmatched intraoperative vision to clinicians to assist in decision making and enhance precision in treatment. The multi-room suites incorporate diagnostic quality high-field MR, CT and angio modalities accessed effortlessly in the operating room setting. VISIUS Surgical Theatres serve the neurosurgical, cardiovascular, spinal and cerebrovascular markets and have been selected by leading medical institutions around the world. For more information, visit www.imris.com.
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For further information, please contact:Jeffery BartelsDirector – FinanceIMRIS Inc.Tel: 763-203-6328Email: firstname.lastname@example.org