Village Farms International granted 180 day extension to meet NASDAQ minimum bid price requirement
October 19, 2023 By Grow Opportunity Staff
(Globe Newswire) Vancouver — Village Farms International, Inc. announced it received notification from The Nasdaq Stock Market LLC that Nasdaq has approved the company’s request for a 180-calendar day extension to regain compliance with the minimum closing bid price of US$1.00 per share listing requirement (NASDAQ Listing Rule 5550(a)(2)).
The extension follows the expiration on October 17, 2023 of the initial 180-calendar day period to regain minimum closing bid price compliance. As a result of the extension, the company now has until April 15, 2024 to regain compliance with the minimum bid requirement.
The notification has no immediate effect on the listing of the company’s common shares on the Nasdaq Capital Market. During the new compliance period, Village Farms common shares will continue to trade on the Nasdaq Capital Market. If at any time before April 15, 2024, the bid price of Village Farms’ common shares closes at or above US$1.00 per share for a minimum of 10 consecutive business days, it is expected that Nasdaq would notify the company that it has regained compliance with the minimum bid requirement.
In the event the company does not regain compliance with the minimum bid requirement by April 15, 2024, the company may be subject to delisting of the common shares from the Nasdaq Capital Market, at which time the company may request a review the delisting determination by a Nasdaq Hearings Panel.
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