Liponex Inc. has requested for its stock to be delisted from the main board of the Toronto Stock Exchange.
The TSX made a terse announcement Thursday that common shares of the Ottawa-based biopharmaceutical company, which is preparing for a merger with Gatineau's ImaSight Inc., would be delisted on or around June 24.
Liponex has been conditionally approved for listing on the TSX Venture Exchange.
Digital X-ray products maker ImaSight and Liponex, which produces 'good cholesterol'-boosting drugs to treat heart disease, are currently awaiting Liponex shareholder approval for their $10-million merger.
The boards of both companies and ImaSight's shareholders have already green-lighted the deal, which would see Liponex buying all of the issued and outstanding shares of ImaSight by way of an amalgamation between ImaSight and a wholly owned subsidiary of Liponex formed for this purpose.
The deal is expected to close at around the same time as Liponex's delisting from the TSX.
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