Rick,
I was going by this, maybe I misunderstood the highlighted section?
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St. Elias halted for having less than three directors
2014-06-24 10:19 ET - News Release
Ms. Lori McClenahan reports
ST. ELIAS MINES LTD. - TRADING HALT
The TSX Venture Exchange has halted St. Elias Mines Ltd.'s shares from trading, effective June 23, 2014, as a result of the company having less than three directors and failing to maintain exchange requirements pursuant to Section 5.6 of TSX-V Policy 3.1, Directors, Officers, Other Insiders and Personnel and Corporate Governance.
In addition, pursuant to TSX-V Policy 2.9, Section 3.1, which allows for listed companies that have failed to comply with exchange requirements to be suspended from trading, the exchange has placed the company on notice for suspension with a deadline of July 8, 2014, in which time the company is required to provide a submission to the exchange evidencing that it has three directors.