MONTREAL,
Feb. 16, 2018 /PRNewswire/
- BioAmber Inc. (OTCPK: BIOA) announced today that the Toronto
Stock Exchange (TSX) has notified the Company that it has
determined to suspend trading in the Company's shares of common
stock, effective February 16, 2018,
and to delist the Company's securities effective at the close of
market on March 16, 2018.
These measures were taken due to the Company not meeting
the continued listing requirements of the TSX. Notification by the
TSX of expedited listing review was announced on February 13, 2018.
The Company's shares currently trade on the OTC Pink
Sheets. The TSX notification does not affect the Company's business
operations or its Securities and Exchange Commission ("SEC") or
applicable Canadian reporting requirements, and does not constitute
an event of default under any of the Company's debt
obligations.
About BioAmber
BioAmber (OTCPK:
BIOA) is a renewable materials company.
Its innovative technology platform combines biotechnology and
catalysis to convert renewable feedstock into building block
materials that are used in a wide variety of everyday products
including plastics, paints, textiles, food additives and personal
care products. For more information visit
www.bio-amber.com.
Forward-Looking Statements
This
press release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995
that involve significant risks and uncertainties about BioAmber,
including but not limited to statements with respect to BioAmber's
plans to consummate its proposed underwritten offering of common
stock and warrants. BioAmber may use words such as "anticipate,"
"believe," "could," "continue," "estimate," "expect," "intend,"
"may," "should," "will," "would," "plan," "projected" or the
negative of such words or other similar words or phrases to
identify such forward-looking statements. Among the important
factors that could cause actual results to differ materially from
those indicated by such forward-looking statements are risks
relating to, among other things, whether or not BioAmber will be
able to generate sufficient cash flows and obtain the additional
financing necessary to continue as a going concern and to grow its
business, develop its products and respond to competitive
pressures, the impact of the termination of BioAmber's joint
venture with Mitsui & Co. Ltd. on its ability to maintain and
expand its operations at its Sarnia,
Ontario facility, market and other conditions, the
satisfaction of customary closing conditions related to the
underwritten offering of common stock and warrants, our ability to
maintain the listing of our common stock on the NYSE, BioAmber's
business and financial condition, and the impact of general
economic, industry or political conditions in the United States or internationally. For
additional disclosure regarding these and other risks faced by
BioAmber, see disclosures contained in BioAmber's public filings
with the SEC, including the risks discussed under the heading "Item
1.A Risk Factors" in the company's Annual Report on Form 10-K for
the fiscal year ended December 31,
2016 and Quarterly Report on Form 10-Q for the quarter ended
September 30, 2017, and under the
heading "Risk Factors" of the prospectus supplement for this
offering. You should consider these factors in evaluating the
forward-looking statements included in this press release and not
place undue reliance on such statements. The forward-looking
statements are made as of the date hereof, and BioAmber undertakes
no obligation to update such statements as a result of new
information.
SOURCE BioAmber Inc.