Northstar Satisfies TSX Continued Listing Requirements
HOUSTON, TX, March 26, 2013 /CNW/ - The Toronto Stock Exchange (the "TSX") has informed Northstar Healthcare Inc. (NHC:TSX) that it has lifted the delisting review of Northstar's securities after determining that Northstar has fully complied with the TSX's continued listing requirements. Northstar's securities have not only met the minimum listing requirements of 712(b) but are now trading at a price that is more than double the amount required to maintain its listing.
In November of 2012, the TSX announced that it had automatically initiated a 120-day delisting review of Northstar's compliance with TSX Company Manual's 712 (b) related to the market value of publicly held (that is, non-insider held) Northstar securities. In February of this year, the TSX granted Northstar an additional 30 days to comply with this TSX continued listing requirement. Because of Northstar's current compliance with Company Manual Section 712(b) -- and all other TSX continued listing requirements -- the delisting review has been lifted.
Northstar's management extends its thanks to the TSX for its assistance and co-operation during the review period.
About Northstar Healthcare Inc.
Northstar partners with physicians in the ownership and management of ambulatory facilities and healthcare services. Northstar owns and manages interests in three ambulatory surgery centers, two in Houston and the third in Dallas.
This news release may contain forward-looking statements (within the meaning of applicable securities laws) relating to business of Northstar Healthcare Inc. (the "Company") and the environment in which it operates. Forward-looking statements are identified by words such as "believe", "anticipate", "expect", "intend", "plan", "will", "may" and other similar expressions. These statements are based on the Company's expectations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. These risks and uncertainties are discussed in the Company's regulatory filings available on the Company's web site at www.Northstar-Healthcare.com or at www.sedar.com. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. The Company undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances.
SOURCE Northstar Healthcare Inc.