TSX, NYSE: BXE – CALGARY, Aug. 5, 2016 /CNW/ – Bellatrix Exploration Ltd. (“Bellatrix” or the “Company”) (TSX, NYSE: BXE) announced that it has received a continued listing standards notice from the New York Stock Exchange (the “NYSE”) because the average closing price of Bellatrix’s common shares was less than US$1.00 per share over a period of 30 consecutive trading days.
In accordance with NYSE rules, Bellatrix has six months following receipt of the notification to regain compliance with the minimum share price requirement. Bellatrix can regain compliance at any time during the six-month cure period if the Company’s common shares have a closing share price of at least US$1.00 on the last trading day of any calendar month during the period and also has an average closing share price of at least US$1.00 over the 30 trading-day period ending on the last trading day of that month or on the last day of the cure period. Bellatrix has notified the NYSE of its intent to cure this deficiency within the six-month cure period.
Bellatrix’s common shares continue to trade on the NYSE. However, starting on August 11, 2016, the NYSE will transmit the Company’s trading symbol with a “.BC” indicator until the price condition has been cured. The Company’s common shares also continue to trade on the Toronto Stock Exchange under the symbol “BXE” and that listing is not affected by the receipt of the NYSE notification. In addition, the Company’s U.S. Securities and Exchange Commission and Canadian securities regulatory authority reporting requirements are not affected by receipt of the NYSE notification.