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Concordia International names interim chairman, to delist from Nasdaq

Concordia International Corp. appointed Itzhak Krinsky to serve as interim chairman of the board, with immediate effect.

Krinsky, who has been a nonexecutive director of the company since May 2017, will fill in the role left by Jordan Kupinsky, who stepped down.

The Oakville, Canada-based specialty pharmaceutical company also received a letter from the Nasdaq Global Select Market informing the company that its common shares will be scheduled for delisting, effective at market open June 8.

In December 2017, Concordia received a noncompliance notice after failing to comply with the minimum $1 bid price listing requirement. The company did not meet the requirement before the May 29 deadline.

As part of Concordia's proposed transaction to realign its capital structure, lenders supporting the transaction requested that the company delist its common shares from Nasdaq. The company will therefore not apply for additional time to regain compliance.

Concordia's common shares continue to be listed on the Toronto Stock Exchange.