WAYZATA, Minn.--(BUSINESS WIRE)--
Dakota Plains Holdings, Inc. ("Dakota Plains" or the "Company") (NYSE
MKT: DAKP) announced today that the NYSE MKT has accepted Dakota Plains'
plan to regain compliance with the NYSE MKT's continued listing
standards and granted the Company until March 14, 2017 to regain
compliance with Section 1003(a)(i) and Section 1003(a)(ii) of the NYSE
MKT Company Guide. Dakota Plains will be subject to periodic review by
Exchange Staff during the compliance plan period. Failure to make
progress consistent with the plan or to regain compliance with the
continued listing standards by the end of the extension period could
result in the Company being delisted from the NYSE MKT.
As previously reported, Dakota Plains received a notice on September 14,
2015 from the NYSE MKT indicating that the Company is below certain of
the NYSE MKT's continued listing standards due to the fact that Dakota
Plains (a) reported a stockholders' deficit of approximately $(3.1)
million in its quarterly report on Form 10-Q for the three months ended
June 30, 2015, and (b) has incurred net losses in its four most recent
fiscal years ended December 31, 2014, as set forth in
Sections 1003(a)(i) and 1003(a)(ii) of the NYSE MKT Company Guide.
About Dakota Plains Holdings, Inc.
Dakota Plains Holdings, Inc. is an integrated midstream energy company
operating the Pioneer Terminal transloading facility. The Pioneer
Terminal is centrally located in Mountrail County, North Dakota, for
Bakken and Three Forks related Energy & Production activity. For more
information please visit the corporate website at: www.dakotaplains.com.
Forward Looking Statements
Statements made by representatives of Dakota Plains in this press
release that are not historical facts are forward-looking statements.
These statements are based on certain assumptions and expectations made
by the Company which reflect management's experience, estimates and
perception of historical trends, current conditions, anticipated future
developments and other factors believed to be appropriate. Such
statements are subject to a number of assumptions, risks and
uncertainties, many of which are beyond the control of the Company,
which may cause actual results to differ materially from those implied
or anticipated in the forward-looking statements. These include risks
relating to global economics or politics, our ability to obtain
additional capital needed to implement our business plan, minimal
operating history, loss of key personnel, lack of business
diversification, reliance on strategic, third-party relationships,
financial performance and results, prices and demand for oil, our
ability to make acquisitions on economically acceptable terms, and other
factors described from time to time in the Company's periodic reports
filed with the SEC that could cause actual results to differ materially
from those anticipated or implied in the forward-looking statements.
Dakota Plains undertakes no obligation to publicly update any
forward-looking statements, whether as a result of new information or
View source version on businesswire.com: http://www.businesswire.com/news/home/20151201005363/en/
Dakota Plains Holdings, Inc.
Tim Brady, CFO,
Dan Gagnier, 212.415.8972
Source: Dakota Plains Holdings, Inc.
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