TSXV:ELBM - Post Discussion
Post by
Starkicker on Nov 04, 2024 4:22pm
Nov 5 Nasdaq hearing for delisting
Electra announces that following receipt of notice from The Nasdaq Stock Market LLC (“Nasdaq”) of noncompliance with the minimum bid price requirement ("Minimum Bid Requirement") of US$1.00 per share under Nasdaq Listing Rule 5550(a)(2) on September 17, 2024, it has successfully submitted a request for an appeal of Nasdaq's determination pursuant to the procedures set forth in the Listing Rules. The appeal hearing date has been set for November 5, 2024, and the Company’s shares will continue to trade on Nasdaq until this date.
If at any time before November 5, 2024, the bid price of the Company’s shares closes at or above US$1.00 per share for a minimum of 10 consecutive business days, the Company will regain compliance with the Minimum Bid Requirement and the appeal hearing will be cancelled.
In the event the appeal is successful, the Company expects to receive additional time in which to regain compliance with the Minimum Bid Requirement. There can be no assurance that the appeal will be successful
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