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Company News

BUZZ-Banro Corporation: Plunges on going concern doubts

** U.S.-listed shares of Canadian gold mining company down 45 pct at $0.17 premarket after co raises doubts on its ability to continue as a going concern

** Biggest pct loser among all U.S. stocks

** Says faces operational and financial challenges, including short- and long-term liquidity constraints

** No reasonable prospect that a successful capital raise could be completed at current time to refinance existing indebtedness and to address working capital requirements, says special committee set up to evaluate options

** Company not to release results for period ended Sept. 30

** Up to Friday’s close, stock had fallen 84.4 pct YTD (Reporting by Amy Caren Daniel in Bengaluru)

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