Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT), a diversified and fully integrated health and wellness company focused on plant-based, sustainable and purpose-driven lifestyle brands, today announced that on March 1, 2022, the Company received a 180 calendar day extension from Nasdaq’s Listing Qualification Department to meet Nasdaq’s minimum bid requirement. The Company now has until August 29, 2022, to maintain a minimum bid of $1.00 per share for at least 10 consecutive trading days.
This current notification from Nasdaq has no immediate effect on the listing or trading of the Company’s common stock, which will continue to trade on the Nasdaq Capital Market under the symbol “NEPT.”
If at any time until August 29, 2022, the bid price of the Company’s common stock closes at or above $1.00 per share for a minimum of 10 consecutive trading days, the Company will regain compliance with the Rule, and the matter will be closed.
The Company was first notified by Nasdaq of its failure to maintain a minimum bid price of $1.00 per share for 30 consecutive trading days under Nasdaq Listing Rules 5550(a)(2) and 5810(c)(3)(A) on August 30, 2021.