Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard;
Transfer of Listing
On August 31, 2020, General Moly, Inc. (the "Company") received a letter (the
"Letter") from the NYSE American LLC (the "Exchange") indicating that the
Company is below compliance with Sections 1003(a)(i), 1003(a)(ii), and Section
1003(a)(iii) of the NYSE American Company Guide (the "Company Guide"), which
require minimum levels of stockholders' equity for companies with histories of
net losses. The Exchange indicated that its review showed that the Company
reported a stockholders' deficit of $115.6 million as of June 30, 2020 and
losses from continuing operations for its five most recent fiscal years ended
December 31, 2019.
Accordingly, the Company must submit to the Exchange, no later than September
30, 2020, a plan of compliance to address how it intends to regain compliance
with Section 1003(a)(i), Section 1003(a)(ii) or Section 1003(a)(iii) of the
Company Guide by February 28, 2022. The Company has had a conversation with the
Exchange regarding whether and to what extent it can submit a plan of compliance
based on current facts and circumstances. The Company cannot assure that it will
submit a plan or, if it submits a plan, such plan will be accepted. If the
Company does not submit a plan of compliance, or if the plan is not accepted by
the Exchange, the Company's common stock will be subject to delisting
procedures. If the plan is accepted by the Exchange, the Company will be subject
to periodic reviews including quarterly monitoring for compliance with the plan.
If the Company is not in compliance with the Exchange's continued listing
standards of Section 1003(a)(i), Section 1003(a)(ii) or Section 1003(a)(iii) by
February 28, 2022, or does not make progress consistent with the plan during
that time frame, the Exchange will initiate delisting proceedings.
A copy of the Company's press release dated September 4, 2020, regarding the
receipt of the Letter from the Exchange is filed as Exhibit 99.1 to this Current
Report on Form 8-K and is incorporated herein by reference.
Item 9.01
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GENERAL MOLY, INC. 
