Candlewood Hotel Company, Inc. (Nasdaq: CNDL) announced today that it intends to apply to list its common stock on the Over the Counter Bulletin Board.
The decision was made following receipt of a notice from The Nasdaq SmallCap Market that it no longer satisfies the net tangible assets continued listing requirements of The Nasdaq SmallCap Market.
The Companies securities are anticipated to be delisted from The Nasdaq SmallCap Market on the close of business June 19, 2002. The Company will continue to provide information through filings with the Securities and Exchange Commission. These filings can be found at www.sec.gov.