Cano Petroleum (CFW) to Delist from NYSE Amex, Voluntarily
On December 21, 2011, Cano Petroleum, Inc. (AMEX: CFW) announced that on December 20, 2011, its board of directors approved and authorized Cano to take definitive action to cause the voluntary delisting of its common stock, par value $0.0001 per share (the “Common Stock”), on NYSE Amex (the “Exchange”). Such determination was based upon the inability of Cano to regain compliance with the Exchange’s continued listing standards consistent with the plan it previously submitted to the Exchange and within the time frame allotted by the Staff of the Exchange. On December 21, 2011, Cano notified the Exchange of its intention to file, on or about January 3, 2012, a Form 25 with the Securities and Exchange Commission to voluntarily delist the Common Stock. Cano anticipates that the Form 25 will become effective 10 days after the date of filing and, accordingly, expects that the last day of trading the Common Stock on the Exchange will be on or about January 13, 2012. Cano anticipates that following the delisting from the Exchange, the Common Stock will be quoted on the OTC Pink market, a centralized electronic quotation service for over-the-counter securities, so long as market makers demonstrate an interest in trading the Common Stock. Cano anticipates that its continued trading will be under a newly assigned trading symbol. Cano can provide no assurance that trading of the Common Stock will continue in the OTC Pink market or in any other forum.
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