Rigel Resource Acquisition Corp Announces Receipt of NYSE Delisting Notice
The NYSE determined to take these actions because Sections 102.06e and 802.01B of the NYSE’s Listed Company Manual do not permit a special purpose acquisition company, such as the Company, to remain listed for more than three years after the company’s initial public offering without completing an initial business combination.
Following the suspension of trading on the NYSE, the Securities are expected to trade on the OTC Pink Market.
As previously announced, on March 11, 2024, Rigel entered into a definitive business combination agreement with Blyvoor Gold Resources Proprietary Limited and Blyvoor Gold Operations Proprietary Limited and Rigel expects that the ordinary shares and warrants of the resulting post-closing entity (“Aurous Resources”) will be listed on NASDAQ at the closing of the resulting business combination. The Company does not currently expect the delisting of the Securities from the NYSE to preclude Aurous Resources’ from receiving approval from NASDAQ at the closing, subject to Aurous Resources’ ability to meet NASDAQ’s initial listing requirements at the time.
As previously announced, Aurous Resources has filed a registration statement on Form F-4 and subsequent amendments thereto with the
As previously announced, on August 9, 2024, Rigel shareholders approved an amendment to Rigel’s Amended and Restated Articles of Association to extend the date by which Rigel must either (i) consummate an initial business combination or (ii) cease its operations and redeem all of the outstanding Class A Ordinary Shares, to May 9, 2025.
About Rigel Resource Acquisition Corp
Rigel Resource Acquisition Corp is a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Certain of these forward-looking statements can be identified by the use of words such as “believes,” “expects,” “intends,” “plans,” “estimates,” “assumes,” “may,” “should,” “will,” “seeks,” or other similar expressions. Such statements may include, but are not limited to, statements regarding the Company’s expectations for the Securities to trade on the OTC Pink Market, the closing of the initial business combination and the listing of Aurous Resources’ securities on NASDAQ at the closing of the initial business combination. These statements are based on current expectations on the date of this press release and involve a number of risks and uncertainties that may cause actual results to differ significantly. The Company does not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise. Readers are cautioned not to put undue reliance on forward-looking statements.
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Company Contact:
Rigel Resource Acquisition Corp
info@rigelresource.com
Source: Rigel Resource Acquisition Corp
