Alta Gold Co. Trading in Common Stock Halted.HENDERSON, Nev.--(BUSINESS WIRE)--April 16, 1999-- Alta Gold Co. (Nasdaq/NMS:ALTA) announced that it Thursday received notice from Nasdaq that Nasdaq had determined, upon review of the company's news release dated April 14, 1999, announcing that the company had filed voluntarily to reorganize under Chapter 11 of the Bankruptcy Code, to halt trading in the company's common stock until the company has "fully satisfied" a Nasdaq demand for additional information. While the company hopes to fully satisfy Nasdaq's demand, should the company fail to submit all of the necessary information by April 21, 1999, or if the submission is deemed not to warrant continued listing, Nasdaq apparently intends to begin the delisting process. If the company's submission is unsuccessful, the company intends to take steps to take action; to move in a matter. See also: Step to have its common stock traded on the Over-the-Counter market over-the-counter market Trading in stocks and bonds that does not take place on stock exchanges. Such trading occurs most often in the U.S., where requirements for listing stocks on the exchanges are strict. . Nasdaq also indicated in its notice that Alta Gold Co.'s ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors will be changed from ALTA to ALTAQ effective upon the opening of business on April 19, 1999. This news release contains statements that may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, such as management's expectations regarding its ability to timely or adequately respond to Nasdaq's request for additional information or to have trades reported on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. . Such forward-looking statements are inherently uncertain, and the actual results may differ from management's expectations. Further information on potential factors that could affect the financial condition and results of operations of Alta Gold are included in the filings of Alta Gold with the Securities and Exchange Commission, including, but not limited to, Alta Gold's annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended Dec. 31, 1998. |
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