NYSE-Amex accepts CorMedix's plan to regain compliance with continued listing standards

CorMedix Inc.Jul 3 2012

CorMedix Inc. ("CorMedix") (NYSE Amex: CRMD), a pharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of Cardiorenal disease, announces the receipt of notice on June 27, 2012 from the NYSE Amex LLC (the "NYSE-Amex") that the NYSE-Amex has accepted the CorMedix's plan to regain compliance with continued listing standards of the NYSE-Amex. CorMedix's plan was submitted on May 17, 2012 in response to a letter from the NYSE-Amex which informed CorMedix it was below certain of the NYSE-Amex's continued listing standards due to financial impairment as set forth in Section 1003(a)(iv) of the NYSE-Amex Company Guide.

CorMedix was afforded the opportunity to submit a plan of compliance to the NYSE-Amex and on May 17, 2012 presented its plan to the NYSE-Amex. On June 27, 2012 the NYSE-Amex notified CorMedix that it accepted the plan of compliance and granted CorMedix an extension until August 22, 2012 to regain compliance with the continued listing standards. CorMedix will be subject to periodic review by the NYSE-Amex Staff during the extension period. Failure to make progress consistent with the plan or to regain compliance with continued listing standards by the end of the extension period could result in CorMedix being delisted from the NYSE-Amex.