Golden Minerals receives acceptance for compliance plan

2023-08-23 09:48 ET - News Release

Ms. Karen Winkler reports

GOLDEN MINERALS RECEIVES NYSE ACCEPTANCE OF PLAN TO REGAIN LISTING COMPLIANCE

The NYSE American has accepted Golden Minerals Company's business plan to regain compliance with the continued listing standards set forth in Section 1003(a)(iii) of the NYSE American company guide.

As previously disclosed, on June 6, 2023, the Company received written notice from the NYSE that the Company was not in compliance with Section 1003(a)(iii) which requires a listed company to have stockholders' equity of at least (US) $6 million when such issuer has sustained losses from continuing operations and/or net losses in its five most recent fiscal years. The Company reported stockholders' equity of $4.1 million as of March 31, 2023 and $5.6 million as of June 30, 2023. On August 22, 2023, the NYSE accepted the Company's plan to regain compliance and has granted to the Company a cure period of up to 18 months from the original notice of non-compliance, or until December 6, 2024.

The listing of the Company's common stock will continue pursuant to an extension during the plan period, during which time the Company will be subject to periodic review to determine whether it is making progress consistent with the accepted plan. Failure to make progress consistent with the plan or to regain compliance with the continued listing standards by December 6, 2024 could result in the Company's shares of common stock being delisted from the NYSE American.

About Golden Minerals

Golden Minerals is a gold and silver producer based in Golden, Colorado. The Company is primarily focused on initiating production at its Velardena Properties (Mexico), advancing its Yoquivo gold-silver property (Mexico), advancing its El Quevar silver property (Argentina) through partner-funded exploration and on acquiring and advancing selected mining properties in Mexico, Nevada and Argentina.