Triangle Petroleum stock to be delisted after former unit’s emergence

By Caroline Salls

Pittsburgh, March 28 – Triangle Petroleum Corp. received a notice from the NYSE MKT LLC that NYSE will begin proceedings to delist the company’s common stock following the effectiveness of Triangle USA Petroleum Corp.’s Chapter 11 plan of reorganization, according to a news release.

Triangle USA is a former wholly owned subsidiary of Triangle Petroleum.

Trading in Triangle Petroleum’s common stock, with ticker symbol TPLM, was suspended at the market opening on Monday.

Triangle Petroleum said it does not intend to appeal the delisting determination.

As a result, NYSE is expected to apply to the Securities and Exchange Commission to delist the common stock upon completion of all applicable procedures.

According to the release, Triangle Petroleum’s common stock is expected to begin trading on the OTC Pink marketplace.

Triangle is an energy company based in Denver.

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