Animation studio Rainmaker Entertainment (TSX:RNK) will be delisted from the Toronto Stock Exchange (TSX) this June after failing to meet listing requirements.
In December 2012, the TSX had given Rainmaker 120 days to meet the requirements; the company was then given an extension to May 1. The company will cease to be listed on June 6.
In March, the company reported a $500,000 loss. Its battered stock rose in April following the announcement it would produce a new animated movie, Ratchet and Clank, based on a popular PlayStation video game franchise published by Sony Computer Entertainment America LLC and developed by Insomniac Games.
The company's first film, Escape from Planet Earth, was released in February 2013.
Rainmaker plans to apply to list its stock on the TSX Venture Exchange.
