VANCOUVER & BONHAM - Kelso Technologies Inc. (TSX: KLS), (NYSE American: KIQ), a company specializing in the design and production of safety equipment for rail and automotive transport, has announced its decision to voluntarily delist its common shares from the NYSE American. The company's shares will continue to be traded on the Toronto Stock Exchange (TSX).
The move follows a notice received from the NYSE American on December 12, 2023, indicating that Kelso was not meeting the exchange's continued listing standards due to a prolonged period of low share price. After evaluating the costs and benefits of maintaining a dual listing, Kelso concluded that the expenses and administrative burdens of a U.S. stock exchange listing are not justified.
Kelso has decided against a reverse stock split to comply with the listing standards, deeming it not in the best interest of shareholders. The company does not plan to seek another U.S. national securities exchange or quotation system for its shares.
Kelso intends to file a Form 25 with the U.S. Securities and Exchange Commission around March 15, 2024, with the delisting expected to take effect approximately ten days later, around March 25, 2024. The company's financial statements and other information will remain accessible on SEDAR+ and EDGAR, as well as on Kelso's website.
Kelso's portfolio consists of specialized products aimed at enhancing public safety and operational efficiency while minimizing environmental impact. The company's rail engineering business supplies unique high-quality rail tank car valves, and its automotive division has developed an automated suspension-based Advanced Driver Assistance System for commercial wilderness operations.
This announcement is based on a press release statement from Kelso Technologies Inc.
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