Followers | 43 |
Posts | 5751 |
Boards Moderated | 0 |
Alias Born | 04/12/2021 |
Thursday, October 13, 2022 7:41:55 AM
“4:23p ET 7/28/2022 - Globe Newswire
HEXO Granted Additional 180 Calendar Day Grace Period by Nasdaq to Regain Compliance with Minimum Bid Price Rule
EQNX::TICKER_START (TSX:HEXO),(NASDAQ:HEXO), EQNX::TICKER_END This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated May 2, 2022 to its short form base shelf prospectus dated May 7, 2021 and amended and restated on May 25, 2021.
Extension will provide the Company with the runway to effectively position HEXO for long-term success
HEXO Corp. (TSX: HEXO; NASDAQ: HEXO) ("HEXO" or the "Company"), announced today it received an extension of 180 calendar days from the Nasdaq Stock Market LLC ("Nasdaq") to regain compliance with the Nasdaq's minimum $1.00 bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on the Nasdaq Capital Market (the "Bid Price Requirement"), following the expiration of the initial 180 calendar days period to regain compliance on July 25, 2022. The Nasdaq determination is based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on the Nasdaq Capital Market with the exception of the Bid Price Requirement, and the Company's written notice of its intention to cure the deficiency during the second compliance period by effecting a share consolidation, if necessary.
"This extended grace period will provide the runway we need to position HEXO for long-term success," noted Charlie Bowman, President and CEO of HEXO. "Our listing on the Nasdaq is a critical component of our profitable growth strategy, providing access to a broad investor base and expanded awareness within the U.S. market."
As a result of the extension, the Company now has until January 23, 2023 to regain compliance with the Bid Price Requirement. If at any time before January 23, 2023, the bid price of the Company's common shares closes at or above US$1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written notification to the Company that it has achieved compliance with the Bid Price Requirement. If the Company chooses to implement a share consolidation to regain compliance, it must complete the consolidation no later than ten business days prior to the expiration of the additional 180 calendar day period in order to timely regain compliance.
If the Company does not regain compliance with the Bid Price Requirement by January 23, 2023, Nasdaq will provide written notification to the Company that its shares will be subject to delisting. At such time, the Company may appeal the delisting determination to a Nasdaq Hearings Panel. The Company would remain listed pending the Panel's decision. There can be no assurance that, if the Company does appeal a subsequent delisting determination, such appeal would be successful.
This current notification from Nasdaq has no immediate effect on the listing or trading of the Company's shares, which will continue to trade on the Nasdaq Capital Market under the symbol "HEXO". The Company is also listed on the Toronto Stock Exchange and the notification letter does not affect the Company's compliance status with such listing.
”
my posts are always theory and not financial advice
Recent HEXO News
- Form 15-12G - Securities registration termination [Section 12(g)] • Edgar (US Regulatory) • 07/03/2023 08:15:19 PM
- HEXO Corp. Announces Completion of Acquisition by Way of Arrangement With Tilray Brands, Inc. • Business Wire • 06/22/2023 09:02:00 PM
- Tilray Brands Completes Accretive Acquisition of HEXO Corp. Leading the Next Evolution of Canadian Cannabis • GlobeNewswire Inc. • 06/22/2023 09:00:00 PM
- HEXO Corp. Announces Receipt of Final Order for Arrangement With Tilray Brands, Inc. • Business Wire • 06/19/2023 08:06:00 PM
- HEXO Reports Q3’23 Financial Results • Business Wire • 06/14/2023 08:51:00 PM
- Hexo Corp.’s Shareholders Approve Acquisition by Way of Arrangement With Tilray Brands, Inc. • Business Wire • 06/14/2023 04:17:00 PM
- HEXO to Host Third Quarter 2023 Earnings Conference Call • Business Wire • 06/12/2023 09:10:00 PM
- HEXO Announces Closing of Non-Brokered Private Placement and Amendments to Arrangement Agreement and Waiver and Amendment Agreement • Business Wire • 06/01/2023 09:30:00 PM
- Leading Independent Proxy Advisory Firm ISS Recommends HEXO Shareholders Vote FOR the Arrangement Agreement with Tilray Brands • Business Wire • 05/26/2023 11:00:00 AM
- HEXO Corp. Files Circular for Special Meeting of Shareholders to Approve Arrangement With Tilray Brands, Inc. • Business Wire • 05/16/2023 11:00:00 AM
- HEXO Corp. Announces Receipt of Interim Order in Respect of Arrangement With Tilray Brands, Inc. • Business Wire • 05/10/2023 08:45:00 PM
FEATURED Cannabix Technologies Launches New Compact Breath Logix Workplace Series and Prepares for Delivery to South Africa • May 7, 2024 8:51 AM
Moon Equity Holdings, Corp. Announces Acquisition of Wikolo, Inc. • MONI • May 7, 2024 9:48 AM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM