WINNIPEG AND MINNEAPOLIS, MN, Aug.
29, 2014 /PRNewswire/ - IMRIS Inc. (NASDAQ: IMRS; TSX: IM)
announced today that the Company received a letter, dated
August 25, 2014, from the NASDAQ
Stock Market LLC ("Nasdaq") stating that for the previous 30
consecutive business days the bid price of the Company's common
stock closed below the minimum $1.00
per share required for continued listing under Nasdaq Listing Rule
5450(a)(1).
In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the
Company has a period of 180 calendar days, or until February 23, 2015, to regain compliance with the
minimum bid requirement. If at any time during the 180
calendar day grace period, the closing bid price per share of the
Company's common stock is at or above $1.00 for a minimum of ten consecutive business
days, the Company will regain compliance and the matter will be
closed. In the event the Company does not regain compliance,
the Company may be eligible for an additional period to regain
compliance, subject to satisfying certain Nasdaq
requirements. If it appears to the Nasdaq staff that the
Company will not be able to cure the deficiency or if the Company
is not otherwise eligible for the additional compliance period, the
Company's common stock will be subject to delisting by Nasdaq.
About IMRIS
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 61
leading medical institutions around the world. For more
information, visit www.imris.com.
Forward-Looking Statements
This press release may contain or refer to forward-looking
information based on current expectations. In some cases,
forward-looking statements can be identified by terminology such as
"anticipate", "may", "expect", "believe", "prospective", "continue"
or the negative of these terms or other similar expressions
concerning matters that are not historical facts. These
statements should not be understood as guarantees of future
performance or results. Such statements involve known and
unknown risks, uncertainties and other factors that may cause
actual results, performance or achievements to be materially
different from those implied by such statements. Although
such statements are based on management's reasonable assumptions,
there can be no assurance that actual results will be consistent
with such statements. Forward-looking statements are subject
to significant risks and uncertainties, and other factors that
could cause actual results to differ materially from expected
results. These forward-looking statements are made as of the
date hereof and we assume no responsibility to update or revise
them to reflect new events or circumstances.
SOURCE IMRIS Inc.