LINYI CITY, China, Nov. 6, 2017 /PRNewswire/ -- American
Lorain Corporation (the
"Company") (NYSE MKT: ALN) -- The NYSE MKT Company Guide
Section 610(b) requires public announcement through the news media
disclosing the receipt of an audit opinion containing a going
concern explanation. As previously disclosed in its Annual Report
on Form 10-K for the fiscal year ended December 31, 2016, which was filed with the
Securities and Exchange Commission on October 30, 2017, the Company's audited financial
statements contained a going concern explanatory paragraph in the
audit opinion from its independent registered public accounting
firm. This announcement does not represent any change or amendment
to the Company's consolidated financial statements or to its Annual
Report on Form 10-K for the fiscal year ended December 31, 2016.
On October 31, 2017, Company
received a letter from NYSE American to grant an extension of
listing through December 8, 2017. The
Company is not in compliance with NYSE American continued listing
standards due to failing to timely file with the SEC its Form 10-K
for the fiscal year ended December 31,
2016 and Forms 10-Q for the periods ended March 31, 2017 and June
30, 2017, and Company's listing is being continued pursuant
to this extension granted by NYSE. NYSE Regulation staff will
review the Company periodically for compliance with the initiatives
to file the required quarterly reports by December 8, 2017. If the Company is not in
compliance with the continued listing standards by December 8, 2017, or if the Company does not make
progress consistent with Company's submitted plan during the plan
period, Exchange staff will initiate delisting proceedings as
appropriate.
On November 3, 2017, Company
received a public warning letter from NYSE American as a result of
its failure to provide timely notification to the Exchange of
material news related to the termination of its Share Exchange
Agreement with Shengrong Environmental Protection Holding Company
Limited in June 2017. The Exchange
has determined that the Company violated one of the Exchange's
listing standards by failing to immediately disclose material
information.
CONTACT: Chen
Xing, +86-539-731 7959, dongshiban@163.com
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SOURCE American Lorain
Corporation