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Technology Stocks : Gandalf Technologies

GANDF 0.1000

-32.5%

Dec 29 2:37 PM EST

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To: eric r. f. who wrote (2620)	8/19/1997 6:27:00 PM
From: Lee Kennedy	of 2723

Tuesday August 19 5:33 PM EDT Company Press Release Gandalf Updates Status of Securities on Nasdaq and TSE NEPEAN, Ontario--(BUSINESS WIRE)--Aug. 19, 1997--Gandalf Technologies (NASDAQ:GANDF)(TSE:GAN) Gandalf Technologies Inc. advised that The Nasdaq Stock Market (``Nasdaq'') has delisted the Company's securities from Nasdaq effective today. Nasdaq's decision to delist the Company's stock was based on the Company's inability to demonstrate compliance with continued listing requirements. Trading of the Company's shares on The Toronto Stock Exchange (``TSE'') was suspended on August 7, 1997 for failure to meet the continued listing requirements of the TSE. Under TSE rules, securities which have been suspended from trading for a period of one year and which have not been approved for reinstatement by the TSE will be automatically delisted at that time. As previously announced, the Company, and its subsidiary, Gandalf Canada Ltd., have been under a protection order granted pursuant to the Companies' Creditors Arrangement Act (``CCAA'') since July 25, 1997. The Company's technology business was sold to Mitel Corporation on August 7, 1997.

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