Lightbridge (LTBR) Regains Nasdaq Listing Compliance
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Lightbridge Corporation (Nasdaq: LTBR) announced that it received official confirmation that the Company is in compliance with all applicable requirements for listing on The Nasdaq Capital Market having met the bid price and shareholders’ equity requirements.
As of August 2, 2016, the Company maintained a closing bid price of over $1.00 for the ten prior consecutive trading days, and as a result of the $2.8 million preferred stock transaction with General International Holdings Inc. (GIH), the Company’s stockholders’ equity increased by $2.8 million, from $1.1 million to $3.9 million as disclosed in the Company’s Form 10-Q filed on August 11, 2016.
Seth Grae, President & Chief Executive Officer of Lightbridge Corporation, commented, “We are very pleased with the final decision of the Nasdaq to support our continued listing. We appreciate the support of Mr. Xingping Hou, a prominent Chinese businessman and investor, whose preferred stock investment at a premium to our market price at the time of the investment, further strengthened our balance sheet, while minimizing equity dilution versus other alternatives. We look forward to a number of very exciting developments later this year, and believe that our listing on the Nasdaq will provide us significant exposure to global investors as we announce these major milestones.”
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