ChinaNet Online Meets NASDAQ Listing Requirements
September 06 2016 - 7:30AM
ChinaNet Online Holdings, Inc. (NASDAQ:CNET) ("ChinaNet" or the
"Company") announced receipt of a letter from the NASDAQ Stock
Market stating that the Company has regained compliance with the
$1.00 minimum closing bid price listing requirement and that,
accordingly, it has determined to continue the listing of the
Company's common stock on the NASDAQ Capital Market.
Previously, ChinaNet had been notified by the NASDAQ Stock
Market of non-compliance with the minimum bid price rule because
its common stock failed to meet the closing bid price of $1.00 or
more for 30 consecutive business days. In order to regain
compliance with the rule, the Company was required to maintain a
minimum closing bid price of $1.00 or more for at least 10
consecutive trading days. This requirement was met on September 1,
2016, the tenth consecutive trading day when the closing bid price
of the Company's common stock traded over $1.00.
About ChinaNet Online Holdings, Inc.
The Company, a parent company of ChinaNet Online Media Group
Ltd., incorporated in the BVI ("ChinaNet"), is a leading digital
B2B (business to business) Internet technology company focusing on
providing O2O sales channel expansion service for small and
medium-sized enterprises (SMEs) and entrepreneurial management and
networking service for entrepreneurs in China. The Company, through
certain contractual arrangements with operating companies in the
PRC, provides Internet advertising and other services for Chinese
SMEs via its portal websites, 28.com, Liansuo.com and Chuangye.com.
Website: http://www.chinanet-online.com.
Safe Harbor
This release contains certain "forward-looking statements"
relating to the business of ChinaNet Online Holdings, Inc., which
can be identified by the use of forward-looking terminology such as
"believes," "expects," "anticipates," "estimates" or similar
expressions. Such forward-looking statements involve known and
unknown risks and uncertainties, including business uncertainties
relating to government regulation of our industry, market demand,
reliance on key personnel, future capital requirements, competition
in general and other factors that may cause actual results to be
materially different from those described herein as anticipated,
believed, estimated or expected. Certain of these risks and
uncertainties are or will be described in greater detail in our
filings with the Securities and Exchange Commission. These
forward-looking statements are based on ChinaNet's current
expectations and beliefs concerning future developments and their
potential effects on the Company. There can be no assurance that
future developments affecting ChinaNet will be those anticipated by
ChinaNet. These forward-looking statements involve a number of
risks, uncertainties (some of which are beyond the control of the
Company) or other assumptions that may cause actual results or
performance to be materially different from those expressed or
implied by such forward-looking statements. ChinaNet undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required under applicable securities
laws.
Contact:
MZ North America
Ted Haberfield, President
Direct: +1-760-755-2716
Email: thaberfield@mzgroup.us
Web: www.mzgroup.us
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