Schmitt Industries Announces Intention to Delist and Deregister Its Common Stock
Schmitt Industries, Inc. (SMIT)
US:NASDAQ Investor Relations:
investor.schmitt-ind.com/investor-relations
Company Research
Source: GlobeNewswire
PORTLAND, Ore., Feb. 04, 2020 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT) (the “Company” or “Schmitt”) today announced its intention to delist its common stock from the NASDAQ Stock Market (“NASDAQ”) and list on the OTC Pink Market. Shifting the listing allows Schmitt to save costs and focus resources on expanding its business units. Management and the board of directors are committed to maintaining transparency and accountability and, following the delisting, the Company will continue to file audited financials, disclose material news and report insider transactions. SMIT’s current shareholders will remain shareholders of the Company. The Company has notified the NASDAQ of its intent to voluntarily delist its common stock from the NASDAQ. The Company currently anticipates that it will file with the Securities and Exchange Commission (the “SEC”) a Form 25 relating to the delisting of its common units on or about February 14, 2020 and anticipates that the delisting o
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