RENO, Nev., Aug. 11, 2011 /PRNewswire/ -- GameTech
International, Inc. (the "Company" or "GameTech"), a leading
supplier of electronic bingo equipment and video lottery terminals,
announced today that its common stock will cease trading on The
Nasdaq Capital Market effective with the open of business on
Thursday, August 11, 2011. The
Company has been informed that it is eligible for trading on the
OTCQB Marketplace effective with the market open on August 11, 2011. The Company's ticker symbol will
remain as "GMTC".
Operated by OTC Markets Group Inc., the OTCQB is a market tier
for OTC traded companies that are registered and reporting with the
Securities and Exchange Commission. Investors will be able to view
Real Time Level II stock quotes for the Company at
http://www.otcmarkets.com under the ticker symbol GMTC.
As previously disclosed in the Company's Current Report on Form
8-K filed with the Securities and Exchange Commission on
August 8, 2011, GameTech received
notification from The Nasdaq Stock Market ("Nasdaq") on
August 2, 2011, stating that the
Company had failed to satisfy Nasdaq's minimum bid requirement for
continued listing and, as a result, the Company's common stock
would be suspended from listing at the open of business on
August 11, 2011, unless the Company
pursued an appeal with the Nasdaq Hearings Panel on or before
August 9, 2011. The Company
determined that it would not appeal Nasdaq's decision and expects
to have its securities traded on the OTCQB Marketplace beginning
August 11, 2011.
About GameTech International
GameTech International, Inc. is in the business of designing,
manufacturing, and marketing electronic bingo and gaming equipment,
systems, and services. Under the GameTech® product brand, the
Company provides electronic bingo systems and equipment. Under the
Summit Gaming™ product brand, the Company provides video lottery
terminals, video gaming machines, and related software and content.
GameTech International, Inc. serves customers in 40 U.S. States,
Canada, Japan, and the
Philippines. The Company was incorporated in 1994 and is
headquartered in Reno, Nevada.
More information on GameTech can be found at
http://www.gametech-inc.com.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS: This
press release includes various "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, which represent GameTech expectations or beliefs
concerning future events. Statements containing expressions such as
"believes," "anticipates," or "expects," used in the Company's
press releases and periodic reports on Forms 10-K and 10-Q filed
with the Securities and Exchange Commission ("SEC"), are intended
to identify forward-looking statements. All forward-looking
statements involve risks and uncertainties. Although the Company
believes its expectations are based upon reasonable assumptions
within the bounds of its knowledge of its business and operations,
there can be no assurances that actual results will not differ
materially from expected results. The Company cautions that these
and similar statements included in this report are further
qualified by important factors that could cause actual results to
differ materially from those in the forward-looking statements.
Readers are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date
thereof. GameTech undertakes no obligation to publicly release any
revisions to such forward-looking statements to reflect events or
circumstances after the date hereof.
SOURCE GameTech International, Inc.