DALLAS, March 22, 2017 /PRNewswire/ -- JRjr33, Inc.,
doing business as JRJR Networks [NYSE MKT: JRJR] today
announced it has received approval from the New York Stock Exchange
MKT (the "NYSE") regarding the plan it submitted for regaining
compliance with Section 1003(a)(i), Section 1003(a)(ii) and Section
1003(a)(iii) of the NYSE MKT continued listing standards.
As previously disclosed, the Company received notification from
the NYSE that the Company was not in compliance with the listing
requirements set forth in the above referenced Sections requiring
the Company to maintain a minimum level of shareholders equity of
$6 million. Pursuant to the
notification from the NYSE, the Company filed a plan on
February 9, 2017 (the "Plan")
outlining among other things its plans and initiatives to regain
compliance within the next 18 months.
The Company was notified on March 17,
2017 that the NYSE has reviewed the Plan submitted by the
Company and has accepted the Plan and has extended the time to gain
compliance with the continued listing standards until July 10, 2018. The NYSE also notified the Company
it will review the Plan periodically, including quarterly updates
from the Company, for compliance and achievement of the initiatives
set forth by the Company.
About JRJR Networks
(www.jrjrnetworks.com)
JRJR Networks is a growing platform of direct-to-consumer
brands. Within JRJR Networks, each company retains its separate
identity, sales force, product line and compensation plan, while
JRJR Networks seeks synergies and efficiencies in operational
areas. JRJR Networks companies currently include The
Longaberger Company, a 42-year old maker of hand-crafted baskets
and other home decor items; Your Inspiration At Home, an
award-winning maker of hand-crafted spices and other gourmet food
items from around the world; Tomboy Tools, a direct seller of
tools designed for women; Agel Enterprises, a global seller of
nutritional products in gel form as well as a skin care line,
operating in 50 countries; Paperly, which offers a line of
custom stationery and other personalized products; Uppercase
Living, which offers a line of customizable vinyl expressions for
display on walls in the home; Kleeneze, a 95-year old UK-based
catalog seller of cleaning, health, beauty, home, outdoor and a
variety of other products, and Betterware, a UK-based home
catalog seller. JRJR Networks also includes Happenings, a
lifestyle publication and marketing company.
Cautionary Note Regarding Forward-Looking Statements:
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements other than statements of historical fact
contained in this press release are forward-looking statements. In
some cases, forward-looking statements can be identified by
terminology such as "anticipate," "believe," "can," "continue,"
"could," "estimate," "expect," "intend," "may," "plan,"
"potential," "predict," "project," "should," or "will" or the
negative of these terms or other comparable terminology and include
statements regarding the Company's ability to regain compliance
with the NYSE MKT continued listing standards by July 10, 2018, opportunities under review and the
continued enhancement of the brand and business
model. These forward-looking statements are based on
management's expectations and assumptions as of the date of this
press release and are subject to a number of risks and
uncertainties, many of which are difficult to predict that could
cause actual results to differ materially from current expectations
and assumptions from those set forth or implied by any
forward-looking statements. Important factors that could cause
actual results to differ materially from current expectations
include, among others, our ability to regain compliance
with the continued listing standards by July
10, 2018, our ability to comply with other continued listing
requirements of the NYSE MKT, our ability to expand
leadership activities in support of our sales, our ability to
continue to grow, our ability to integrate the entities that we
have acquired, our ability to strengthen our internal controls and
the other risks outlined under "Risk Factors" in our Annual Report
on Form 10-K for our fiscal year ended December 31, 2015 and our other filings with
the SEC, including subsequent reports on Forms 10-Q and 8-K. The
information in this release is provided only as of the date of this
release, and we undertake no obligation to update any
forward-looking statements contained in this release on account of
new information, future events, or otherwise, except as required by
law.
Contact:
Investor Relations: Tucker Gagen
(tucker.gagen@jrjrnetworks.com)
Media Contact: Brenton Baker
(brenton.baker@jrjrnetworks.com)
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SOURCE JRJR Networks