RENO, NV -- (Marketwire) -- 01/11/12 -- Altair
Nanotechnologies, Inc. (Altair) (NASDAQ: ALTI), a leading
provider of energy storage systems for clean, efficient
power and energy management, today announced notification
from NASDAQ that because Altair's common stock bid
price has fallen below $1.00 from November 21, 2011 to
January 5, 2012, Altair is not in compliance with Rule
5550(a)(2), which is NASDAQ's minimum bid price rule.
The notification has no effect on the listing of
Altair's common stock at this time, which will continue
to trade on the NASDAQ Capital Market under the symbol
"ALTI."
The NASDAQ notice states that Altair has been provided a
180-day grace period, through July 5, 2012, to regain
compliance with Rule 5550(a)(2). To regain compliance, the
bid price for Altair's common stock must close at $1.00
or higher for a minimum of 10 consecutive business days
within the stated 180-day grace period. At the close of the
grace period, if Altair has not regained compliance, it may
be eligible for an additional grace period of 180 days, if
it meets the initial listing standards, with the exception
of bid price, for the NASDAQ Capital Market and it provides
NASDAQ with notice of its intent to timely cure the bid
price deficiency. If it is not eligible for an additional
grace period, Altair will receive notification that its
securities are subject to delisting, and it may then appeal
the delisting determination to a Hearings Panel.
Altair intends to monitor the bid price for its common
stock between now and July 5, 2012 and to consider
available options to resolve the deficiency and regain
compliance with the NASDAQ minimum bid price requirement,
as to which no assurances can be given.
About Altair Nanotechnologies Inc.
Headquartered in Reno, Nevada with manufacturing in
Anderson, Indiana, Altair is a leading provider of energy
storage systems for clean, efficient power and energy
management. Altair's lithium titanate-based battery
systems are among the highest performing and most scalable,
with applications that include complete energy storage
systems for use in providing frequency regulation and
renewables integration for the electric grid, and battery
modules and cells for transportation and industrial
applications. For more information, please visit Altair at
.
Forward-Looking Statements
This release may contain forward-looking statements
as well as historical information. Forward-looking
statements, which are included in accordance with the
"safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995, may involve
risks, uncertainties and other factors that may cause the
company's actual results and performance in future
periods to be materially different from any future results
or performance suggested by the forward-looking statements
in this release. These risks and uncertainties include,
without limitation, the risks that Altair will not come
into compliance with the minimum bid price requirements
during the 180 day grace period, that Altair will not
qualify for, or will not receive, an additional grace
period and that, as a result, Altair's common stock
will be delisted. In addition, other risks are identified
in Altair's most recent Annual Report on Form 10-K and
Form 10-Q, as filed with the SEC. Such forward-looking
statements speak only as of the date of this release.
Altair expressly disclaims any obligation to update or
revise any forward-looking statements found herein to
reflect any changes in Altair expectations or results or
any change in events.
For Additional Information:
Larry Clawson
Director, Financial Planning & Analysis
lclawson@altairnano.com
(775) 858- 3728
Media Relations
Erin Witt
Marketing Consultant
(317) 509-5968
ewitt@altairnano.com
