The Toronto Stock Exchange is set to delist Stornoway Diamond Corporation following the miner’s move to seek creditor protection.
The company received notice from the bourse that it would be removed from the exchange at close of business on October 18, Stornoway said last week. The exchange has already suspended the company’s shares from trading.
Stornoway’s major lenders agreed to take over the company after mounting debts forced it to default on a bridge loan, it explained earlier this month. The company will continue to manage the mine for the time being.
Image: The Renard mine. (Stornoway Diamond Corporation)