on Intellipharmaceutics International Inc. (NASDAQ:IPCIF)
Intellipharmaceutics Announces Downgrade to OTC Expert Market
TORONTO, ON / ACCESSWIRE / June 14, 2024 / Intellipharmaceutics International Inc. (OTCQB:IPCIF) and (TSX:IPCI.H) has announced that its common stock will be downgraded to the OTC Expert Market on June 17, 2024. This downgrade follows the company's failure to file its Form 20-F for the fiscal year ending November 30, 2023.
Quotes in the OTC Expert Market are "Unsolicited Only," allowing broker-dealers to meet their Best Execution responsibilities under FINRA Rules. However, quotations are restricted from public viewing and only accessible to broker-dealers and professional investors.
The company is also under a cease trade order from the Ontario Securities Commission, effective since March 5, 2024, for not filing necessary financial statements and reports for the year ended November 30, 2023. There is no assurance that Intellipharmaceutics will resolve its filing issues promptly.
The company plans to issue a further news release upon fulfilling its filing requirements.
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